Payment Posting Services
Posting insurance claims in the medical billing process involves logging the payment into the practice management which may seem like a simple task but it forms the most fundamental feature of the revenue cycle. If not done correctly, it may result in rejected claims and late payments from patience leading to huge losses for a healthcare practice. This calls for professional help! As the payers send an EOB (explanation of benefits) or ERA (electronic remittance advice) towards the payment of a claim, having the patent posting services outsourced will ensure that these payment are right away posted into the respective patients’ accounts to reconcile them.
SunTec India, a leading medical billing company has been providing payment posting services for more than 20 years. We examine your revenue cycle carefully for better development opportunities and take necessary actions to ensure overall financial performance. Providing dependable and affordable payment posting services to healthcare organizations all around the world, we leverage our rich experience to accurately post insurance payment data from different sources like ERAs, post-patient payments, post insurance checks from EOBs, print receipts, etc.
Our Payment Posting Services
At SunTec India, we provide remittance processing services ensuring a high degree of accuracy, and following the best industry procedures. We perform the following services:
- Carrying periodic payment reviews
- Tracking & monitoring payment patterns
- Checking for discrepancies in the payments
- Facilitating payment realization at the procedural level
- Moving payment as patient responsibility (if there is a difference between the allowed amount and payment amount)
- Identifying the difference between actual claim submitted and claim received
- Identifying line denials and prevent them from occurring again
- Re-submitting insurance claims to the insurance company
Bring Efficiency into Your Payment Posting Process with SunTec India
Within our medical billing and clinical data management services, the payment posting stage receives the maximum focus and dedication from our team. Received from the payer & patients, the payments in lieu of claims, are posted in the client’s medical billing system to reconcile the claim. Our team accurately does electronic payment posting into the medical billing software and handles the fallouts manually, ensuring that no payment is missed. These posted ERAs are stored in the billing system DMS that is helpful for future reference.
Outsourcing Payment Posting Services for Medical Billing from SunTec India can get you the following benefits:
Analyze Your Revenue Cycle
After the payments have been posted to patient accounts, you can analyze the medical office revenue cycle anytime and pick out the opportunities for improvement. Our team can effectively do analysis & assist you in improving the revenue cycle by increasing profitability.
Analysis Based Action
Our team can help you identify and record payment receivable patterns, prepare an action chart, and instruct your billing department to take necessary actions for smooth inflows. Based on the analysis, we instruct your billing department to take necessary actions and improve the revenue cycle substantially.
Resolve problems within the revenue cycle
Our accurate and reliable medical billing payment posting services can help you tackle problems that may exist within your revenue cycle. The process not just involves posting the payments but also involves posting denials & adjustments. As a part of our payment posting services, we also help you identify the reasons for your claim denial, take measures in resolving them, and prevent future claims from getting denied.
Resolves & prevents claim denial
Effective payment posting services can help you resolve and prevent claim denials. To ensure this, our medical billing team carefully monitors instructions from the insurance company and stays up to date on their information about new billing or coding rules. Thus, our team can quickly identify reasons for your claim denial, get it corrected, and send them back to the insurance provider. Having your claim denials go unresolved contributes to your overall improved revenue cycle.
Facilitates accurate claim submission to secondary payers
Accurate payment postings also impact the accuracy of claims submissions to secondary and tertiary payers. At SunTec India, we make sure that your primary payment is posted correctly so that the secondary and tertiary payers get billed incorrectly. Our team continuously monitors our payment posting so as to maximize reimbursement and stay in compliance with the best billing practices.
Enables cash inflow tracking
Being a leading payment posting company, we rigorously monitor and track your review cycle and highlight outstanding amounts receivable on a real-time basis. This way, our team can help you keep a tab on the cash inflows and take necessary actions in case of any discrepancies to the revenue stream.
Our Streamlined Payment Posting Process
Payment Posting Services has huge potential in increasing your profits and carry a smooth medical billing process. Having a well-established payment posting process in place gives you a chance to increase revenue or improve cash flow by identifying & analyzing daily trends within your practice. At SunTec India, we follow seamless and accurate medical billing payment posting services to clients across specializations. Below is the detailed overview of the process we follow:
- On receiving information on the point of service payments made by patients from our clients, our team diligently verifies every detail of the patient mentioned in EOB including billed amounts, adjusted amounts, allowed amounts, denial information, co-pays, etc.
- Once the details are verified, we process insurance payments of ERAs. We track and monitor whether the claims were processed appropriately, take corrective measures, if any, and record details for further analysis
- Once the insurance ERAs processing is done, the balance is transferred to secondary insurance companies or the patients. The team forwards the information related to payments to the billing departments and aid them to take necessary measures to increase the cash flow
- At last, the team deals with the posting claim denials to get an accurate understanding of the customer’s revenue cycle. In the case of denials, the claims are sent back by the payers in the form of ANSI codes or payer-specific medical coding guidelines. Our medical billing specialists record each claim denial in the practice management system and take appropriate actions to re-bill to the secondary insurance company, transfer the balance to the patient, and send the claim for reprocessing.
Outsource Payment Posting Services for Medical Billing to SunTec India
SunTec India has over 20 years of experience in providing accurate, reliable, and cost-effective payment posting services to healthcare organizations of all types and sizes, all around the world. Our team acutely understands the role of payment posting in the medical billing process and precisely helps you to go through the process. Our experienced medical billers help you do the payment posting right, making your practice thrive with better cash flow facilitating better collections, problems addressal, and a smooth billing process. By leveraging our clinical data management services, we ensure swift resolution of your billing concerns, accurate billing of secondary payers, and prompt delivery of statements to patients. This streamlined approach enhances the efficiency of your medical billing cycle.
Why Choose SunTec India as Your Payment Posting Outsourcing Partner?
There are multiple benefits that you can gain when you outsource payment posting services for medical billing to SunTec India. This includes but not limited to:
Uncompromised quality
With our proficient delivery team, you are assured of a contractual guarantee of over 99% accuracy, in the final output
Round-the-clock support
With our team members working around the clock, you can be sure of receiving support throughout your [rojrct journey with a short TAT.
Accurate understanding of the A/R cycle
We focus on proving accuracy in payment posting as it is critical to improving the overall billing system.
Analytics-based decision making
Based on analytics, we generate reports to understand the reason for denials, improve service collections, list down services that are covered by insurance, and learn about time to process payments by your insurance company.
Experienced & skilled team
Our team possesses rich expertise & experience to cater to all your billing needs. Depending on your requirements., we bring to your notice any significant trends, contractual adjustments, or denials in claim processing.
Get in touch with us!
Got any questions or concerns about your payment processing? Connect with our expert billers to efficient and cost-effective solutions to manage your billing and collections. get in touch with us today at info@suntecindia.com
David Barrs, President
VisionSpan Corporate Communications, Inc., USA