Prior Authorization
Healthy revenue flow is the lifeline of any healthcare facility and this explains the need for efficient
Accounts Receivable in medical billing. However, with the involvement of multiple stakeholders and the
ever-increasing complex nature of the healthcare industry, AR can be a drain on the resources of
healthcare facilities. Most medical practices are understaffed to handle the plethora of backend tasks
necessary to cut down costs, reduce medical billing errors, and improve cash flow, and as a consequence,
their focus on patient care gets diluted.
What is Accounts Receivable in Medical Billing?
The term “accounts receivable” is used to describe the unpaid balance due from clients such as patients or insurance companies for medical care provided. Accounts receivable are an important part of a medical practice’s financial success, as it serves as a significant source of cash flow. It is an important component of revenue cycle management in the healthcare industry.
At Medical billing arts, we have devised the ideal way to deliver customer-centric medical accounts receivable services to enable healthcare businesses to identify and mitigate all causes of revenue leakage.
Importance of Accounts Receivable in Medical Billing
We offer a wide range of denial management services, including:
Accurate records of accounts receivable enable healthcare providers to anticipate their cash flow, which is essential for effective budgeting and forecasting. AR management is important for healthcare providers because it streamlines the medical billing process and makes sure their accounts receivable is paid on time and their finances are safe.
According to recent studies, the average Accounts Receivable in the healthcare industry ranges between 30-120 days. This means that healthcare providers may have to wait several months to receive payment for their services.
As a leading medical billing company, our results-driven collection procedure helps generate faster payments across the entire credit portfolio of your healthcare facility. You can also outsource accounts receivable services to us for customized solutions for receivables that demand specialized treatment and strategic follow-ups.
What Makes Medical Billing Arts Differently?
Every day at Medical billing arts, we are immersed in this world. We have the skills and knowledge to swiftly guide you or your providers through the system and assist you in maintaining your status once enrolled. We understand how to fill out each payor’s numerous paperwork, whom to contact if an issue arises, and how to ensure your continued success. We deal with a wide range of payor organizations, including commercial carriers.
Medical billing arts offers enrolment and credentialing services to clients (across the full spectrum of specialties) and ensures their satisfaction by doing the enrolment and credentialing process per the credentialing standards and guidelines implemented by the National Committee for Quality Assurance (NCQA). Our highly skilled team members will handle major provider enrollment and credentialing.
The Importance of Credentialing.
Credentialing is essential in ensuring healthcare services' quality and safety. The National Committee for Quality Assurance (NCQA) says that medical errors and patient harm are less likely to happen when a healthcare provider has the right credentials. In addition, credentialing provides patients and their families peace of mind by ensuring that healthcare providers are certified and skilled in their specialty.
Requirements for Credentialing.
Credentialing requirements vary from state to state, county, and population—even between medical facilities and insurance carriers. The major credentialing requirements include education and training, Hospital affiliation, State license(s), DEA license, Provider enrollment application, Board certification, Malpractice insurance certificate, Sanctions disclosure, Criminal background disclosure, Background Screening, Military service, and IRS- Letter.
The departments for Verification are:
- The National Practitioner Data Bank (NPDB).
- American Association of Nurse Practitioners (AANP) / American Nurses Credentialing Center (ANCC), and
- American Board of Medical Specialties (ABMS)
- National Student Clearing House.
At Medical billing arts, we stay up-to-date on the latest requirements and can help you navigate the process from start to finish.
CAQH Credentialing
CAQH, or the Council for Affordable Quality Healthcare, makes it easier for healthcare providers to get credentialed to accept health insurance, saving time and money. It also helps to ensure that providers meet the necessary standards and have the appropriate certifications. Medical billing arts is experienced with the CAQH credentialing procedure and can assist you with navigating the requirements and ensuring a swift and efficient process.
Our credentialing team is highly experienced and can provide you with a comprehensive understanding of the requirements and regulations necessary to maintain compliant credentialing and secure insurance reimbursements. We can also help you develop a comprehensive credentialing plan that meets your specific needs and goals.
As a professional credentialing service located in Colorado, Nevada, we offer physicians a comprehensive range of services. Our services cover all major commercial insurance providers, including Aetna, Anthem, BCBS, CIGNA, Tricare, Humana, UnitedHealthcare, and more. We also assist with enrolling and revalidating for Medicare and Medicaid, CAQH registration, NPI registration, and resolving issues related to reimbursements and managed care contracts. Our experienced team is ready to help you navigate the requirements and ensure a quick and efficient process. Contact us today to learn more about how we can assist with your credentialing needs.
Denied Claims: A Growing Problem for Physicians and Doctors in the USA
According to recent studies, denied medical claims in the United States are on the rise, putting a strain on healthcare professionals such as physicians and doctors. Many medical claims are being denied, which costs providers money and makes it take longer for patients to get the care they need. Smaller offices and single practitioners may not have the resources they need to handle a large number of denied claims in an effective way, which makes the situation very hard for them.
Impact of Denied Claims on Physicians and Doctors
Dealing with claims turned down can be a time-consuming and complicated process that requires much paperwork. This can distract physicians from their primary objective of patient care.
Decreased revenue
Dealing with claims turned down can be a time-consuming and complicated process that requires much paperwork. This can distract physicians from their primary objective of patient care.
Frequently Asked Questions
Medical billing is collecting and processing claims for different types of healthcare services. It involves tracking patient information such as insurance coverage, deductible amounts, and other details about a patient’s medical history to ensure that all patients receive appropriate care.
We have been in business for over 10 years.
Our team is composed of highly trained and certified medical billing and coding experts with years of experience in the industry.
We offer various medical billing services, including billing, coding, and collections. We also offer specialized services such as Credentialing, Denial Management, Account Receivable, and Virtual Medical Scribes
Our services can help your practice maximize revenue, increase your bottom line, and make your life easier. We work closely with you to ensure that your billing and coding are accurate and up-to-date, and we take the time to understand your unique needs and develop a customized solution that works for you.
Keeping up with the constantly changing regulations and medical billing requirements can be time-consuming and overwhelming, especially for small practices. Outsourcing your billing to a professional service can save you time and money and ensure that your claims are processed accurately and efficiently.
Contact US
Simplify your medical billing process with Medical billing arts LLC. Contact us today for top-notch billing services that save you time and money. Contact us today to schedule an appointment and see how we can help streamline your billing process. Whether you prefer email, phone, or our easy-to-use contact form, we’re here to make your life easier. So why wait? Reach out to Medical billing arts LLC and start seeing results!
- +1 303 586 1631
- info@medicalbillingarts.com
- 9436 W.Lake Mead Blvd Ste 5 PMB 1034 Colorado, NV 89134