7 Step AR Recovery Process:
This plans takes for granted that you have adequate staff and sufficient practice management software. If you do not have these things we recommend that you contact the experts at Physicians World Online for a free consultation. info@physicianworldonline.com
1. VERIFY PATIENT INSURANCE ELIGIBILITY( this and accurate demographics are a must for collecting Insurance and Patient AR)
2. Evaluate Insurance Contracts to ensure they adhere to current CPT guidelines.
3. Adjust your charges with a consistent formula based on a percentage of Medicare.(This allows for an accurate gross and net collection percentage)
4. Scrub your claim and use a coder with knowledge of your specialty to ensure proper modifiers and diagnosis codes are appended.
5. Submit claim electronically to decrease the payment cycle of claim.
6. Do not wait to receive something in the mail, call when the claim is older than the contract allows.(Medicare 20 days, BCBS and other commercial carriers is usually 30 days)
7. BE PERSISTENT and don’t let them get away without paying you. Call and send documentation if required. Make sure to write down patterns with denied claims and send supporting documentation with original claim if needed.
