Here are 3 steps for recovering A/R, according to the blog post:
1. Determine the payers, how many accounts exist and the average amount of money owed in each account.
2. Concentrate on the group of accounts with the highest dollar amounts and determine which insurance companies are involved with those claims.
3. Read the contract language — if the collector determines a commonality among the claims, for example, a number of claims are missing the same information on the explanation of benefits, contact the insurance representative and ask for a review process for multiple claims with the same issue.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.