EOB READING AND ANALYSIS
In medical billing, decoding the payment posting process includes decoding the Patients’ names, account numbers, control numbers, service dates, procedure codes, billed/allowed/adjusted amounts, denials information, deductibles, co-insurances, co-payments if any, and so on. The second you receive the EOB from the insurer, you should read it carefully and analyze it to identify payment patterns and other patterns such as the amount outstanding, frequency of inflows, denials, and so on.
ACTION BASED ON ANALYSIS
Having determined payment receivable patterns, we produce a detailed action chart that we send to the billing departments for them to take the necessary steps to increase inflows. In the case of a difference between the allowed amount and the payment amount, the patient is responsible for the balance. EOBs clearly state why the patient must pay the balance in cases like co-payments, deductibles, co-insurance or uncovered insurance. This information is immediately sent to the billing department, allowing them to collect outstanding receivables from the patient.
STATEMENT OF INFLOW
We keep a record of outstanding receivables and cash inflows in real time, so that the rate of cash inflows can be easily accessed and appropriate measures can be taken to enhance cash flow.
INVEST IN IMPROVING YOUR ENTIRE MEDICAL BILLING SYSTEM
An accurate claim posting gives a picture of your billing efficiency and infrastructure, as well as the causes of any low inflows. As a result, the billing system could be improved in a variety of ways, including the conversion of physician billing into a charge entry, the preparation of manual or electronic claims submissions, and the final posting of the paychecks.
Enhanced Denial Management
By analyzing the rates and nature of denials, we reduce the number of denials to the lowest possible level with our denial management expertise.
Our goal is to ensure that all steps of the medical billing process proceed smoothly, which facilitates the denial handling process.
Specialized resources for claim posting
Cash payment entry is more than data entry, it requires domain expertise and work experience to ensure information accuracy and, most importantly, proper analysis by the resources involved.
WWS is regarded as a premier provider of payment processing services within the healthcare industry. We are here to facilitate your ability to focus on your core competencies, and we will handle all of your payment posting requirements.