Health System Accounts Receivable Services

The success of any business relies heavily on the map of cash flow. And Health Systems are no exception to this. This is precisely why a Health System’s accounts receivable services assume such a crucial position in the scheme of things. Efficiently managing accounts receivable while adhering to the dynamic compliance scenario of the healthcare industry is a challenging task. This is actually a very serious matter. A Health System is usually a large business, comprising many different entities, service providers, and practices. So when one speaks about Health Systems accounts receivable services, a wider perspective is required. A study shows that about 41% of grown-ups in the US have debts of at least $500 owed to their healthcare providers. These unsettled claims can cause serious damage to any Health System’s revenue generation system.

The primary focus of a Health System is to provide the best possible patient care. However, when issues related to accounts receivable arise — such as frequent denials in insurance claims, bad debts, unnecessary write-offs, an unorganized collection process, and limited payment options — maintaining this core focus becomes time-consuming and burdensome. Moreover, neglecting A/R issues can result in detrimental effects on the business’s cash flow, and ultimately, on its profitability.

Dedicated Health System Accounts Receivable Services: A Confirmed Boost to Cashflow

Streamlined accounts receivable and denial management has a beneficial effect on the invoicing process. It also ensures the accurate and timely completion of repetitive billing tasks. Therefore, if you aim to streamline your medical billing process, your day-to-day collections and your revenue cycle, adopt a dedicated and specialized approach to the task of dealing with unpaid claims.

A successful modus operandi, in this regard, requires a tenacious approach comprising:

  • Diligently analyzing pending invoices;
  • Gaining an understanding of the reason for denial;
  • Formulating a practical and realistic expectation of how much can be recovered;
  • Following up dedicatedly with the Payer or the patient;
  • Recovering maximum possible collections and updating the accounts.

How Can We Help?

Transform your Revenue Cycle with our legendary support at just $7/hr.* (all inclusive) guaranteed locked-in rate till 2026!

sunknowledge advantage

For many Health Systems, especially those with a poorly staffed admin desk or billing personnel lacking the necessary skills, such an approach can seem pretty overwhelming. The need of the hour, therefore, is a dedicated partner specializing in accounts receivable management along with active denial management.

Crucial Benefits of Outsourcing Prior Authorization for Health Systems

  • Unmatched dedication to resolving claims aged over 90 days.
  • Cost-saving by downsizing internal administrative staff.
  • Harnessing automated workflow systems for effortless AR processing.
  • Employing advanced dashboards and metrics for superior denial management.
  • Enhancing collection methods and shortening accounts receivable duration.
  • Sunknowledge: One of the Best Health System Accounts Receivable Companies

Trust our years of experience, deep Payer knowledge, and skilled A/R management personnel, getting back the revenue that you had thought was lost, is surprisingly easy. With our industry experience and domain expertise, we have been able to increase collections of our clients by 30 to 40% while reducing operational cost by up to 80%

Most Health System accounts receivable companies work on A/R that are aged not more than 90 days. With Sunknowledge, you get the confidence of actualizing collections from A/R buckets that are far older than that! We have successfully worked on accounts aged more than 100 days and recovered the maximum possible dues for our clients. We also had great success in collecting accounts receivable as old as three years.

If you want to know more about our comprehensive Health System accounts receivable services, contact us to today to schedule a free consultation.

Are You Looking for streamlined medical billing assistance?

GET IN TOUCH

Enough of us! Lets know about your areas of interest! Get connected for a quick discussion on how we can elevate your revenue cycle management experience by working as a seamless operational extension.

    Input this code: captcha