Payment Posting Services
The payment posting process offers valuable insights into the success of your revenue cycle. By tracking reimbursements and conducting analyses, you can gain a comprehensive understanding of how your revenue is impacted. For this reason, it’s crucial to select a competent and proficient team to handle payment processing, in order to maintain accuracy and clarity in your revenue cycle.
Our Payment Posting Process
We process different types of remittances received with a high degree of accuracy, improved responsiveness, and follow the procedures defined by our clients. We perform the following services:
Patient Payments:
Our clients entrust us with information regarding the point-of-service payments made by patients. These payments, whether through cash, check, or credit cards, may cover co-pays, deductibles, or non-covered services. Our dedicated team thoroughly reviews and adjusts this information in accordance with each patient’s account.
Insurance Posting:
We process Insurance Payments in the following formats
Electronic Remittance Advisory:
Our team handles a large number of ERAs from various payers, which we process in batches by inputting them into our client’s practice management software. During each batch run, we address any exceptions that occur and verify the batch totals for accuracy.
Manual Posting:
“Our valued clients frequently provide us with scanned EOBs. These valuable documents are securely accessed through either FTP or the EHR system. Our team meticulously follows our clients’ specific business rules for accurately processing adjustments, write-offs, and transferring balances to secondary insurance providers or patients.”
Denial Posting:
Accurate comprehension of a customer’s account receivables cycle relies heavily on the posting of claim denials. When claims are rejected by payers, they may be accompanied by ANSI codes or specific coding guidelines unique to that payer. Our team is well-versed in payer-specific denial codes as well as the standard ANSI codes, allowing us to effectively log each denial in our practice management system. From there, we take necessary steps to re-submit to secondary insurance, transfer any remaining balance to the patient, write off the amount, or request reprocessing of the claim.
Patient Payments
Processing of payments made by Patient's via cash/check/credit cards for co-pays, deductible, or for non-covered services.
Insurance ERAs
Batch processing of electronic remittance advisory (ERA), and correction of any exceptions and transfer of balance to secondary insurers.
EOB Processing - Manual
Processing of payments made by insurance companies without ERA, and transfer of balance to secondary insurers.
Denial Posting
Posting of denials and re billing to secondary insurance company, transfer the balance to the patient, write-off the amount, or send the claim for reprocessing.
Benefits of our Payment Posting process
High Quality:
With our global delivery team, you are assured of a contractual guarantee of over 97% accuracy, while in reality, you get over 99% accuracy
Responsiveness:
With our team members working around the clock, we can guarantee a 24-48 hours turnaround time.
Get an accurate understanding of the A/R cycle:
Accuracy in payment posting is critical to getting the right view of the state of your accounts receivable, allowing you to make the right decisions.
Analytics:
We generate reports on A/R trends to:
To effectively enhance point of service collections, it is crucial to comprehend the root cause of denials and accurately document cases that necessitate eligibility and authorization. Additionally, gaining insight into the varying payer coverage and timelines for payment processing by your insurance provider can greatly benefit your overall understanding.
Exception processing:
We abide by your business rules and bring to your notice any significant trends, contractual adjustments, or denials.
We also provide coding denial management services. For more details, please visit our page.
