The average practice loses thousands of dollars annually to unpaid insurance claims due to a lack of prompt, diligent follow-up and appeals. Although there are a variety of reasons why claims are underpaid, delayed, reworked, and ultimately denied, our experience has demonstrated that rigorous insurance follow-up and information verification immediately prior to claim submission yield a very strong return on investment.
Usually, a practice has some level of aging that needs to be addressed when we first start working with them. Since these claims require action prior to the filing/appeal limit, our team begins with high-value, older AR. After that, the team will concentrate on high-value claims with young ages since they have a better chance of being collected. After that, they will cover all other service dates.
Due to their extensive coding and billing expertise, our AR staff ensures that claims are paid out of the box. We follow up on unpaid cases until they are settled by setting up reminders in the system for those that require attention.Cleaning the Aging Buckets requires an aggressive approach to Aging.
Instead of waiting to receive the denial in the mail, we can address the reason the claim was denied and resubmit without having to wait for the denial to arrive in the mail by calling the insurance company and learning the reason for the denial. This keeps AR aging smaller and speeds up the turnaround time.
We also provide insurance follow-up as an a-la-carte service if you would like to improve your collections ratios and relieve your staff of having to spend all day on the phone with insurance companies. This service is provided by:
Regularly reviewing aging and following up with insurance every day regarding unpaid claims Provide summaries of the follow-up's findings.
UCS will collect check details and the date of check cashing if a claim is determined to be paid in order to locate the EOB and update the system.
UCS will identify claims requiring further information or medical records required for action if the insurance company requests more information.
Submit "not-on-file" claims electronically to the insurance company. Give a monthly report on the development of AR.