Imaging Centers Accounts Receivable Services

There is a growing trend to outsource Imaging Centers accounts receivable services to specialists in the field. This trend, however, is not limited to only Imaging Centers. Accounts Receivable management services are in much demand for many other healthcare niches. This can be attributed to a growing realization that effective denial management and maximizing collections from unpaid claims, requires a specialized and skilled approach, not to mention a close familiarity with Payer guidelines.

Regardless of the sizes of imaging centers, it is crucial to ensure that efficient and streamlined processes of Radiology Accounts Receivable Services are followed to avoid any potential chance for serious revenue loss. While a modicum amount of outstanding accounting receivable is normal for most healthcare service facilities, letting it pile up over time can seriously hamper the cash flow, and take a toll on profitability.

In a recent poll by the Medical Group Management Association, practice leaders were questioned about changes in their days in A/R for 2021. The results showed that 49% experienced an increase, 15% noted a decrease, and 37% reported that their days in A/R remained unchanged.

Common Challenges with Accounts Receivable for Imaging Centers

Taming mounting Accounts Receivable for Imaging Centers Practices, following up proactively with Payers on delinquent accounts, resolving issues and tackling denials, and finally collecting the maximum reimbursement are no easy tasks. But they need to be done, and done right. The tests and scans involved could be of various kinds – MRI, Ultrasound, Mammography, CT scan, bone scan, or others. True expertise lies in understanding what is required to reverse the denial in each case for every Payer out there.

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What is also required is a deep understanding of how too much-pending revenue impedes the efficient functioning of the business, the reasons behind it, and what usually prevents imaging centers from addressing these challenges. These include:

  • Delays in invoice delivery
  • High Day’s Sales Outstanding
  • Poor patient-provider relationship
  • Weak ledger organization and management
  • Aging accounts that make collections increasingly difficult
  • Lack of process knowledge
  • Poor calling ethics, including incompetent follow-ups

If the above rings a bell, the solution is right here.

Outsource Radiology Accounts Receivable Services

Outsourcing accounts receivable services for imaging centers enables your practice to create accurate invoices timely, swiftly complete billing & administrative tasks more efficiently, and ensure a smoother cash flow.

When it comes to simplifying the entire accounts receivable management process, we are your trusted partner as we have been providing cutting-edge services to almost 2,000+ healthcare practices across the US for close to two decades.

One of the vital reasons why our clients trust us is our unmatched expertise in handling aged accounts. When we say “Aged Accounts”, we strongly mean it as we have helped healthcare practices receive optimal reimbursements from accounts aging more than 100 days!

I just want to take a moment to recognize the Sunknowledge team for their high level of detail in notes when tagging invoices they are working on. They provide a high level of detail and steps taken to resolve invoices and every line item billed, far beyond my other collectors every week and I feel they deserve to be recognized

– RCM Supervisor of a leading DME provider from Pennsylvania

Sunknowledge: Outsourcing to One of the Best Imaging Centers Denial Management Services

A lot of imaging centers, these days, experience a high denial rate from the payers due to a lack of knowledge in claims staff. Our efficient imaging centers denial management services help you in preventing 90% of denials.

We follow the industry-best denials management services for the most optimized outcome, such as:

  • Organizing denial categories
  • Identifying specific denial causes
  • Strong emphasis on reviewing claims before submission
  • Swiftly addressing resubmissions
  • Harnessing denial oversight technology

By capitalizing on our extensive industry insight and specialized knowledge on imaging centers accounts receivable services, we have consistently ensured a surge of 30 to 40% in collections while dramatically reducing operational expenses by up to 80%.

While numerous healthcare accounts receivable agencies (along with those specializing in Imaging Centers) focus on handling accounts within a 90-day range, our prominence lies in adeptly managing accounts surpassing the dreaded 90-day mark and beyond, ensuring the retrieval of optimal claim amounts. In fact, our proven track record extends to successfully recovering receivables dating as far back as three years.

Overall Benefits of Outsourcing Imaging Centers Accounts Receivable Services

  • Resolve aged claims efficiently and enjoy excellent cash flow
  • Instant access to a pool of trained and skilled A/R handling experts
  • No staffing cost; no equipment charges; no PTO (Paid Time Off)
  • Automated workflow system and highly streamlined processes
  • Advanced dashboards and metrics, with fully customized reporting
  • New-age collection methods and fewer number of days spent in accounts receivable
  • Experience matters and that’s why we always recruit A/R experts with minimum 3 years of experience

Want to know more about our imaging centers accounts receivable services? Why not schedule a free consultation with us? Just fill out the form and reach out to us now.

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