What is AR Recovery in Medical Billing?
Getting paid for medical services is important. Insurance companies, patients, or others may not pay right away. AR Recovery services help doctors get the money they are owed. These services work to get unpaid bills paid quickly. They make sure doctors get paid for the work they do. AR Recovery finds unpaid claims and balances. Then, it helps collect the money owed. This brings in more cash for the medical office. It also helps prevent unpaid bills from becoming bad debt.
Do you need help with a never-ending cycle of unrecovered accounts receivable in your billing process? Look no further than SPT Medical Billing for managing your medical accounts receivable. Our AR Recovery Services are anything but ordinary. We take a deep dive into managing the lifecycle of your medical accounts receivable, ensuring a seamless and dynamic process. Our services include comprehensive follow-ups, strategic denial management, insurance verification, and proactive tracking. You can count on SPT to provide you with efficient and effective management of your medical accounts receivable.
Our Company Specializes in AR Recovery Services
Unpaid claims that are not appropriately managed result in a significant loss of revenue every year. Our team of dedicated AR recovery professionals has a proven track record of successfully recovering reimbursements for claims that others consider “uncollectible.” It is a well-known fact in the collections industry that as time passes, the likelihood of an unpaid bill getting paid decreases. However, we keep working hard on old AR recovery and bills. Instead, we take immediate action to identify and investigate every unpaid claim. Unlike other medical AR billing services that either avoid old AR or charge high fees, our system streamlines the process, making it efficient enough to work profitably on aging AR recoveries and low-value claims. These are some of the features of our AR recovery system.
Ensure Claims Tracking
SPT Medical Billing ensures reimbursement for every claim, even those with a lower likelihood of being paid.
Prioritization For Maximum Recovery
We prioritize claims to ensure that no unnecessary expirations occur and use the most efficient approach to maximize medical recovery.
Dedicated AR Recovery Team
When we assist with AR recovery, our experienced medical billing team investigates every claim in your records.
Pay For Recovered Amount Only
We assure you that you won't lose money on old AR. Our fees are only charged based on the amount we recover. If we are unable to recover payment, you don't have to pay us anything. Trust us with your claims without any risk to you.
Offering 95% AR Recovery
Our highly experienced AR recovery services team has been able to consistently recover over 90% of claims going back as far as one year. That kind of revenue can easily make a big difference in the financial success of any kind of medical business.
On-Time Appeal Rejections and Denials
Most claim rejections and denials result from easily correctable errors and omissions. Our medical AR recovery services resolve complex issues with high success rates.
Benefits of Our Medical AR Recovery Services
Why choose SPT Medical Billing? Here, you get more than just services; the services that positively impact your practice’s financial health.
Error-Free and Accurate: Precision Beyond Numbers
In the medical billing industry, precision is paramount. We go beyond mere numbers, ensuring a meticulous approach to every transaction. Say farewell to billing errors that could cost your practice dearly. Our commitment to accuracy means smoother financial transactions, reducing the likelihood of discrepancies that can impact your revenue cycle.
Efficiency Redefined: Paths to Boost Your Revenue
Time is money, and we understand the value of both. Our streamlined processes redefine efficiency, ensuring that your hard-earned revenue reaches you at an accelerated pace. By optimizing workflows and eliminating unnecessary delays, we enhance the overall efficiency of your financial operations. Experience a faster, more agile revenue cycle that keeps your practice moving forward.
Budget-Friendly Solutions: Maximizing Returns While Minimizing Costs
Financial health shouldn’t come at an unreasonable price. We offer budget-friendly solutions that are suitable for small and large practices. Our cost-effective services are designed to maximize returns on your investment, ensuring that you achieve optimal financial outcomes without compromising the integrity of your budget. Let us be your strategic financial partner, providing value-driven solutions that align with your financial goals.
HIPAA Compliant: Safeguarding Your Sensitive Data
In healthcare, trust is non-negotiable. Our commitment to HIPAA compliance goes beyond a checkbox; it’s an affirmation of our dedication to safeguarding sensitive data with the utmost care and security. We make sure that your patient information, billing data, and other confidential details are handled in full compliance with the Health Insurance Portability and Accountability Act (HIPAA). Your trust is our priority, and we ensure that our procedure strictly follows the highest data protection standards.
Choose SPT as a trusted partner to improve your practice's financial health with precision, efficiency, cost-effectiveness, and unwavering data security.
Why Choose Us as Your Medical AR Recovery Solutions Provider?
Expertise
We have trained specialists who deeply understand healthcare billing and accounts receivable. Our team can help you get paid faster.
Customization
We design custom plans just for your healthcare practice. Our solutions fit your unique needs and challenges.
Transparency
We communicate clearly and send reports. This lets you see progress on unpaid bills.
Efficiency
We use simple processes and new technology. This helps collect payments quickly and reduces unpaid bills.
Compliance
We follow all rules and best practices. This ensures proper handling of patient details and billing.
Cost-Effectiveness
Hiring outside help for accounts receivable services saves money. You won't need costly equipment or more workers.
Our AR Recovery Process/Steps We Follow
It’s not just a process; it’s a partnership. Here’s a breakdown of how we help you to recover your old AR
Comprehensive Analysis
We start by understanding your unique financial fingerprint and diving into the root cause of your unrecovered AR.
Custom Strategies
Your practice is unique, and so are our strategies. We tailor our approach to address your AR recovery challenges.
Action Time
Once we've crafted a plan for the resubmission of the claim, it's time for action. We execute every move with accuracy, ensuring optimal results in no time.
On-the-Spot Adjustments
We don't just reclaim it and forget it. Our team is committed to keeping track of your claim status until your AR is recovered.
How Outsourcing Healthcare Accounts Receivable Services Can Benefit You?
Accelerated Cash Flow
Quick payment collection processes let money come in faster. This improves practices' cash flow.
Improved Efficiency
Special skills and technology solutions make operations run smoother. They boost productivity too.
Increased Revenue
Better billing and collection methods maximize revenue earned. They minimize revenue lost.
Reduced AR Days
Outsourcing makes accounts receivable management better. This makes the accounts receivable cycle shorter. It also reduces AR days.
Focus on Core Activities
Outsourcing accounts receivable allows healthcare providers to focus on treating patients and medical services. They can work on important business plans.
Cost Savings
Hiring an AR company to manage accounts receivable saves money. You don't have to pay for in-house staff and resources.
Let's Revitalize Your Finances Together!
SPT Medical Billing can help streamline your financial cycle by reducing the burden of bulky accounts receivable.
