What's Going On With Your Billing?
On average, a clean claim will be processed and paid by a payer within 15 business days. While leaving a little wiggle room for normal processing times, we measure successful reimbursement for our clients at 30 days or less. How? With proper management of your accounts receivable: monitored, analyzed, and worked. If this is not the case for your practice, keep reading.
So, How Does Your Practice Measure Up?
Pays in 30 Days or Less
This is the most ideal payment trend that every practice should strive for. A clean claim submission has been achieved. Little to no errors were found. You're reimbursed within 30 business days or less. Great job!
Pays within 60 days
The claim requires immediate attention to solve any reimbursement issue. A review of preprocessing edits, coding, corrections, and or reconsiderations should take place here. The follow-up process should be handled with the utmost urgent care.
Pays in 61 days or more
Processing/billing errors, correspondence requests, and denials to claims have gone unaddressed due to poor follow-up which is delaying the reimbursement for your service(s). Your practice is losing money every day.
Common Causes of Delayed Payment
Untimely Billing, Poor Follow-up
Lack of reporting, Missing prior authorizations
Mismanagement of credentialing and provider enrollments
Uncommitted and inexperienced billing staff
Ignored payment and denial trends that can affect your overall reimbursement.
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