1-866-344-1936 Building Speed and Efficiency into Your Payment Posting Process
Payment posting in medical billing is a critical part of revenue cycle management. It helps providers get a fair estimate of reimbursements trends and overall financial status. Besides, it helps in addressing denials in the most effective ways. It is because of these reasons that it is important to have an efficient payment posting service in place.
MedBillingExperts has over 10 years of experience in providing reliable and cost-effective medical payment posting services to healthcare organizations of all types and sizes. We assure our clients quick turnaround time with the help of a well-defined posting process. Our clients, which includes large hospitals and mid-sized and small practices bank on our expertise to accurately post insurance payment data from ERAs, post insurance checks from EOBs, and post patient payments. We follow the best payment posting practices and information security mandates to meet your business requirements as per industry standards.
We
Help You
Streamline Payment
Posting
By:
- Identifying denials for medical necessity, non-covered service, service not authorized, etc. and prevent them from occurring again
- Updating patient responsibility when there is a difference between allowed amount and payment amount
- Writing off the difference between actual claim submitted and claims received
- Conducting routine payment reviews to keep receivables updated
- Tracking payment patterns to identify inconsistencies and trends
Our End-to-End Payment Posting Process Flow
Our payment posting in healthcare is based on few well-defined steps that assist our clients to identify patient responsibility, adjust outstanding payments, write-off dues, initiate refunds etc.
Verify Payment Details
Meticulously verify every minute patient details mentioned in EOB (Explanation of Benefits) such as billed amounts, adjusted amounts, allowed amounts, denial information, co-pays, etc.
Patient Payments
We enter all payments made by patients in the form of checks or cash or credit cards as co-pays or deductibles for services not covered by payers.
ERA Processing
We receive remittance advice electronically, review them and post payments directly. We quickly sort paid and unpaid ERAs for easier accounting.
EOB Processing
Keying in details of a particular claim in respective patient accounts to reconcile them. We carry this out as per client-specific rules.
Posting Denials
Posting claims denials and transferring the balance to patient accounts or re-billing to secondary insurance company.
Our Medical Billing Payment Posting Services Cover Your Complete Needs
Our services are designed to help you get an accurate understanding on reasons for denials, front-end patient collection process and non-covered services. Our services include:
Analyse Explanation of Benefits (EOBs)
Our trained and experienced team of payment posting executives key in every details of the patient such as name, account numbers, control numbers, service dates, procedure codes and so on. They analyze all the data to uncover crucial payment related patterns such as percentage of insurance receivable, denials, amount outstanding percentage, and so on.
Post Electronic Remittance Advisory (ERA)
With this posting service we help you process high volume payment transactions electronically. Our task entails loading the files into your RCM system, checking for errors and discrepancies, and correcting the mistakes with the help of available functionalities in the ERA tool. Our ERA posting services is designed to eliminate manual efforts, cut down on posting errors, and increase the overall efficiency of your payment posting system.
Post Payments Manually
With manual payment posting service, we capture payment figures from scanned copies of Explanation of Benefit (EOB) documents and post them to corresponding patient accounts. We bank on the best manual payment posting practice and business-specific rules to ensure accurate payments, write-offs, balance transfers and adjustments are accomplished. After the posting is done our experts liaison with the denials department to initiate the process of collecting dues.
Post Patient Payment
We assist our clients in posting patient payments so that the dues not recovered from payers are realized from patients. We do this promptly to ensure there is no inflated AR for your practice. Our experience in handling payments received from patients through different modes such as checks, cash, and credit cards help us to resolve credit balance issues or transfer pending balances to secondary insurers in a seamless and timely fashion.
Post Denials
With our denial posting service we post denials into your practice system and at the same time initiate actions such as billing secondary insurance, adjusting balances, keying in the balance receivables into payer accounts, initiating write-offs as per your policies and lining up denials to denial management queues. Our experts have complete knowledge of ANSI denial codes and different payer codes and therefore bring more efficiency into your payment posting process.
Track Cash Inflow
Payment posting in healthcare comes with the additional responsibility of assisting a practice keep proper track of their cash inflow. As a leading payment posting provider, we assist you to monitor and track all outstanding account receivables on a real-time basis. In the process we enable you to keep a tab on cash inflows and initiate actions to remove all bottlenecks to cash inflow.
Our Specialties
- Acupuncture
- Allergy / Immunology
- Andrology
- Anesthesiology
- Audiology
- Ambulance Billing
- ASC Billing
- Bariatrics
- Cardiology Billing
- Chiropractic Billing
- Clinical Summary
- Clinical Chemistry
- Clinical Virology
- DME Billing
- EMS Billing
- Dentistry
- Dermatology
- Discharge Summary
- Emergency Room
- Emergency Medicine
- EMR
- EHR
- Endocrinology
- Environmental Medicine
- ENT Neurology
- Epidemiology
- Family Medicine
- Forensic Medicine
- Family Practice Billing
- Gynecology Billing
- Genetics
- Geriatrics
- Hematology
- History and Physical reports
- Hospital Billing
- Internal Medicine Billing
- IME / Peer Reviews
- Infectious Disease
- Internal Medicine
- Medical Documentation
- Medical Records Summary
- Mental Health Billing
- Neonatology
- Nephrology
- Neurology Billing
- Nuclear Medicine
- Occupational Therapy
- Obstetrics
- Occupational Medicine
- Otolaryngology Billing
- Operative reports
- Ophthalmology
- Optometry
- Orthopedics
- Osteopathy
- Otolaryngology
- Pain Management
- Pathology Billing
- Pharmacy Billing
- Pediatric Billing
- Plastic Surgery Medical Billing
- Patient Charts
- Psychiatry/Psychology
- Physician Billing
- Radiology Billing
- Urgent Care Billing
- Pediatric Neurology
- Surgery/Surgery Notes
- Pediatric/Geriatric reports
- Pediatrics
- Physical therapy
- Physiotherapy
- Plastic Surgery
- Podiatry
- Preventive Medicine
- Progress Notes
- Pulmonology
- Radiation Oncology
- Radiology
- Reproductive Medicine
- Rheumatology
- Skilled Nursing Facility
- SOAP notes
- Speech Therapy
- Sports Medicine
- Teleconferences
- Urgent Care
- Urology
- Vascular Medicine
- Gastroenterology/
Gastrointestinal - Rehabilitation Reports/
Medicine
Why we are an Industry Authority in Payment Posting in Medical Billing
Inputs Based on Analytics
We provide inputs on overall revenue trends which includes non-covered services, denials, prior authorization, co-payment, deductible and front office collections.
Develop Policies for Write-off and Adjustments
We develop well defined policies for adjustments and write-offs. This helps us draw your attention to uncommon contractual adjustments that may impact your revenue cycle.
Expedite Denial Management
We keep a track on denied claims and waste no time in forwarding it to the denial management team for on time evaluation and re-submission to payers.
File Claims with Secondary Payers
Our services assist you to identify and process claims with secondary payers and ensure you get paid for any remaining balances.
Manage Knowledge
We store all your business process rules in our practice management systems to ensure we are always on top of the updates and assist you be up-to-date.
Dashboards
We provide access to dashboards that give you real time inputs on cash flow status and areas that require improvements.
How we Help you Streamline Payment Posting
Payment Entry
Receiving and applying the payment to appropriate patient account.
Payment Processing
Analyzing EOB’s for over payment or under payment of amount Identifying Patient Responsibilities.
Payment Adjustments
Match the actual deposit amount with payment posted and shift balance to patient account.
Read What Our Clients have to Say About Us
Shelton Snugs Head, AR Department, Children’s Hospital Washington
"There was a distinct disconnect between our payment posting process and AR management. As a result, our AR team was wrongly prioritizing outstanding amounts leading to delays in collection and sometimes write-offs. Medbilling Experts helped us get over this problem. Their well-designed payment posting process ensured timely reporting and rerouting of all underpaid and denied claims to the appropriate team for re-submission and follow up with patients. This reduced the workload on our AR teams"
Jhon Samuel CEO, Primary Care Clinic, Arizona
"Medbilling Experts Payment Posting process is detailed enough to lend precision to the overall process. Our requirements were so heavy that they decided to split their teams to handle different aspects of the process. While one team matched the data between EOBs and ERAs, the other took care of the postings accurately, mapping and adjusting payments as per the payments received and then passing the doubtful ones to the denials team. This brought about such efficiency, that at the end of each day we had a clear picture of our financial status."
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