Billing and Accounts Receivable Management
Is your practice struggling with managing your accounts receivable? Are you struggling to keep up with the necessary follow-up? We proudly offer billing and accounts receivable services as part of a wide range of RCM services for orthopedic, radiology, and other medical practices across the United States. Learn more about our A/R management solutions and how HIS can help boost your profitability and efficiency.
What is Accounts Receivable Management?
Accounts Receivable (A/R) is the money owed to healthcare providers and medical billing companies for the care rendered to patients in a given year. Simply put, A/R acts as a credit line for patients, so they don’t have to provide immediate payment at the time of service. A strong A/R process is critical for organizations in every industry, and healthcare is no exception. It helps avoid cash flow issues and ensures financial viability.
HIS is your trusted partner for best-in-class medical billing services, including A/R management. We can help reduce days in A/R and make sure you get paid on time with prompt follow-ups to insurance companies and patients. Our team comprises healthcare professionals with years of specialized experience in medical billing and accounts receivable. We offer support in several areas related to A/R, including but not limited to:
- Coding/charge capture
- Self-pay follow-ups
- Payer/Insurance follow-ups
- Receivables analysis
- Denials management
- Credit balance resolution
Our A/R Management Services at HIS
Maximize your Billing Services by Supporting the Whole Revenue Cycle
Running a successful medical practice requires several moving parts, and HIS can provide you with the tools and resources necessary to be profitable and experience long-term growth. Get access to our full suite of services, from RCM to coding education and consulting.
Looking for A/R and billing management expertise? Schedule a free consultation to learn more.
Account receivable in healthcare is unique to other industries because of the amounts owed, the involvement of insurance companies, and the risk associated with late payments (also referred to as “bad debts”). With payer plans, patient co-pays, and co-insurance agreements constantly evolving and more patients in high-deductible health plans, A/R management has become exceedingly complicated.
Therefore, nothing is more critical to a healthcare organization’s profitability than having an efficient and effective A/R management system. Physicians need comprehensive strategies to help minimize reimbursement issues and accelerate cash flow. HIS has the knowledge, technology, and expertise to optimize your medical practice’s performance for years to come.
- Improve collections and reduce days in A/R
- Recover overdue payments
- Eliminate costly errors
- Sustain cash flow
- Enhance productivity and efficiency
- Automate A/R workflow
- Stay compliant with industry regulations
- Receive customized reports
How is Medical Accounts Receivable Unique? Benefits of the A/R Management Process
Outsource Your Medical Billing to HIS
When you outsource your A/R management services to HIS, our goal is to help your practice save time and money while you focus on improving the quality of patient care. We act as an extension of your in-house staff to accelerate cash collections using industry best practices and by staying up to date with shifting healthcare trends. Contact us for more information about our services or to schedule a consultation with a member of our team today!
