Payment Posting Services
While medical coding and quality of clinical documentation determines the reimbursement levels, payment posting processing and analytics is critical to understand the effectiveness of the revenue cycle processes.
Achieve over 98% accuracy and 24-48 hour turnaround time.
We process the following types of remittances received with utmost accuracy and in compliance with the service levels defined by our customers.
Insurance payments are largely received in the form of ERAs (Electronic Remittance Advice). In some cases, payment details are received in the form of EOB (Explanation of Benefits),
ERA Posting. ERAs containing a large volume of payment information, are processed in batches by our experienced payment posting team members. The process involves loading the batch into the revenue cycle system, also called as batch run, processing any transactions that fall out by making corrections, and ensuring that the batch totals are tallying.
Manual Payment Posting. Information available in the scanned EOBs is captured into the respective patient account. We work with the practices and facilities to develop rules related to adjustments, write-offs, and balance transfers.
We process POS payments – Cash/Checks/credit card payments. These payments could be related to co-pays, deductible, and non-covered services. Accurate processing of payments from patients is critical to ensuring that each account is appropriately reconciled, and the A/R information is accurate.
Denials received from insurance companies are received in the form of ANSI denial codes and remark codes – some of these remark codes are, often, specific to different payers. We post denials into the customer’s practice management system and, as per defined policies either re-bill to the secondary insurance, transfer the balance to the patient, route the claim to reprocessing queue, or write-off the amount.
- Get powerful analytics on reason for denials, need for prior-authorization, point-of-service information collection issues, services that are covered/not-covered, typical time to payment by insurance company, clinical documentation quality and more.
- Define policies. Developing policies for write-offs and adjustments in important to ensuring that instances of inflated A/R reporting are avoided. We help our clients define these policies and ensure that A/R reflecting on the system is correct.
- Identify exceptions. While processing payments, any unusual contractual adjustments, denials, or any other discrepancies are identified and brought to your attention