Hello MDs
Payment Posting
Payment posting is a crucial step in managing your revenue cycle. It provides insights into reimbursement trends and helps with analytics. Accurate payment posting brings clarity to your financial health. That’s why choosing an efficient team for this process is essential.
We handle various types of payments with precision. Our services include:
- Patient Payments
We process payments made by patients at the point of service. These can be cash, checks, or credit card payments for co-pays, deductibles, or non-covered services. Our team reviews the details and updates each patient’s account accordingly. - Insurance Posting
We efficiently process insurance payments in multiple formats: - Electronic Remittance Advice (ERA):
We receive large volumes of ERAs from payers and import them into your practice management system. Any exceptions are identified and corrected, ensuring batch totals are verified. - Manual Posting:
We also process scanned Explanation of Benefits (EOBs) sent by clients. These are accessed securely and handled according to your specific rules for adjustments, write-offs, and balance transfers to secondary insurance or patients. - Denial Posting
Accurate denial posting is vital for understanding your accounts receivable cycle. Denials come back from payers with ANSI codes and specific medical coding guidelines.
Our team is well-versed in both payer-specific and ANSI standard denial codes. We log each claim denial into the practice management system and take appropriate actions—whether that’s re-billing to secondary insurance, transferring the balance to the patient, writing off the amount, or submitting the claim for reprocessing.
By choosing our payment posting services, you can enhance the efficiency and accuracy of your revenue cycle management.
Payment Posting Workflow
1
Patients Make Payments
Payments made by patients through cash/credit/check. This will include copays, deductibles, or other services not covered by insurance.
2
Insurance ERAs
An Insurance Electronic Remittance Advice is a digital explanation an insurer sends to an explanation of a payment that has been made to a healthcare provider. It lists what was paid, what was adjusted, and why a claim was denied. ERAs streamline the actual process of posting payments due to the fact that the information is critical and appears in a formatted manner.
3
EOB Processing Manual
This kind of processing is linked with handling hard copies from insurance companies. They explain what services were covered, what has been paid, and the patient’s responsibility.
4
Denial Posting
The practice management system captures denied claims made by an insurer. Each denial is stored in the practice management system with a description of the reason for denial. This process involves sending the claim for reprocessing, writing off the amounts, and transferring the balance to the patient.