Skip to main content

Impact of Accounts Receivables on Medical Billing Collections -Avontix

Accounts receivables management is a significant aspect of the revenue cycle management process for any healthcare provider. It is estimated that over 200 million medical claims are denied in the US for various reasons every year. One of the main setbacks in the revenue cycle management process is that most of the denied claims are not followed up properly which leads to losses for the facility. To minimize the claims denials and revenue loss, it is necessary that this process is handed over to a professional RCM services provider, who is solely into the business of dealing with the generation of accurate bills, submission of insurance claims and doing the follow up of denied claims. Avontix provides the best RCM services in Hyderabad for its clients in the US by using the latest software and technology.

Why outsource your RCM?
There are many reasons that support outsourcing the RCM services to companies like Avontix. It is more economical to outsource than building own RCM department by engaging additional staff and acquiring the necessary software systems. RCM service providers have experienced professionals who have expertise in all medical specialties and can work on any kind of project. Our experts will meticulously do the follow up for all the claims that have been denied or rejected and help improve the facility’s cash flow.

How to improve accounts receivables with denial management?
It is a well-known fact that long due accounts receivables heavily impact the revenue cycle and decrease the cash flow. Hence, it is vital that proper and effective procedures are put in place to minimize denials and lessen the accounts receivables. RCM services providers like us adhere to set denial management processes that help in shortening the accounts receivables cycle, thus improving collections.

  • Better billing processes: We provide end-to-end billing services that have effective processes generated after carefully analyzing various needs of the facility that minimize the probability of denials and reoccurrence of the kind of denials that have occurred in the past.
  • Dedicated follow up: For every denied claim, it has to be identified why the claim was denied and is it justified. To improve the accounts receivables it has to be ensured that all the missing documents or information that have led to the denials have to be collected and re-submitted with proper follow-up procedures to receive the dues quickly.
  • Appeals process: It is very important that the denied claims are studied properly and they are appealed again. This is the most significant part of the denial management and has to be handled very professionally. Every possible and available channel for liaison has to be utilized effectively to speed up the appeals process.

Appropriate use of denial management to shorten the accounts receivable cycle is vital for every healthcare provider to increase their billing collections, which can be achieved with ease by outsourcing their billing activities to RCM services providers like Avontix.

Popular posts from this blog

That’s Hilarious! Funny Must-Read Medical Transcription Errors!

Doctors every now and then come across some very critical bloopers from medical transcriptionists. Some of these can be downright funny! It’s common for transcription errors to creep in for various reasons like the dictation might not be clear, too many medical terms stuffed in, or misunderstanding at the transcriptionist’s end. Medical transcriptionists vary in experience and skill and may not be well versed with some medical terms. Here is a compilation of some very funny transcription mistakes you could note to avoid being on the receiving end of the laughter! 

   ·"Eyes and nose continue to be within normal limits" (I & O).    ·"History of sick as hell disease" (sickle cell)    ·"She was a bitch and grinned" (a bit chagrined).    ·"The last day the patient took their meds was for beaver."  (forever).    ·“49 year old occasional male”(Caucasian male).    ·“Borderline respectable pancreatic cancer”. (Resectable).    ·“Patient is alert and orien…

Role of Proofreading in Healthcare Documentation -Avontix

Picture courtesy:
Medical transcription or healthcare documentation deals with the documentation of voice files which is prone to many errors due to the kind of work it involves. Healthcare documentation specialists have to listen to various physicians’ voice files with different accents and document them in a prescribed format. Often there are issues with the voice files regarding the background noises, the clarity in the physician’s speech etc. that give a challenge to the medical transcriptionist. Moreover, many people in healthcare documentation jobs work remotely without any immediate supervisor to rectify errors if there are any. This kind of work needs that the medical transcriptionist is independent, self-motivated and responsible towards the work being done. Being an indispensable part of the healthcare industry, the healthcare documentation specialists take pride in their jobs and work relentlessly for the accuracy and comprehensiveness of the documentation t…

Pointers for Accurate Healthcare Documentation -Avontix

One of the exciting and trending career options available for graduates is healthcare documentation that is also known as medical transcription. There is no dearth of opportunities in medical transcription jobs in Hyderabad as there are a good number of medical transcription companies here. Avontix is a good option for those who want to take up healthcare documentation in Hyderabad. For all those who want to excel in healthcare documentation here given are few tips.
Good typing skills help: One of the key requirements for medical transcription jobs is typing error-free with a good speed. Apart from regular typing skills, it is necessary that you learn and master the keyboard shortcuts and minimize the use of the mouse to accelerate your typing speed. It has to be remembered that typing fast with minimum errors is the key to success in this job. Hence, practicing typing without errors and without the need of deleting and re-typing is important.
Excel with listening: One of the pre-requi…