Payment posting &
Fix Revenue Leaks.
Improve Profits.
Improve Profits.
Payment posting refers to posting payments received from insurance companies (EOBs and ERAs) and patients in your practice management system. Accurate and timely payment posting indicates the financial health of a practice. Efficient daily management of payment posting is vital to identifying revenue collection problems.
Importance of Efficient Payment Posting
Efficiencies in payment posting are vital to the overall revenue cycle management of your medical practice.
- It helps to reconcile the EOB (explanation of benefits) and ERA (electronic remittance advice) payments.
- It indicates the impact of denials on your revenue collection and the top reasons for denial posting.
- It helps ensure that claim balances are moved to secondary payers or the patient account.
- It's the start point for identifying accounts for collection follow-ups and potential write-offs.
- It gives a clear picture of how much revenue is due.
Elite Offshore’s Value Proposition
When done right, payment posting will help identify revenue leakages before they impact your practice's profitability and financial sustainability. Get it wrong, and you are faced with a severe cash flow crisis, wasted hours in claim follow-up’s, irate patients, and potential complications in billing audits.
In such a scenario, outsourcing payment posting can make the process smoother and make everyone's life much easier – patients and staff included.
In such a scenario, outsourcing payment posting can make the process smoother and make everyone's life much easier – patients and staff included.
Benefits of Our Payment Posting Services
- All payments received from the payers and patients are posted in the practice medical billing system
- We process paper checks as well as electronic remittances
- Daily reconciliation of payments received and posted in the medical billing software to ensure no charge is missed or incorrectly posted
- Timely redirect denied claims to secondary payers so that patients only pay for what is due from them
- Payment posting is processed per your specific guidelines, including write-offs and refund rules
- Regular denial analysis to identify non-payment issues and take corrective steps to reduce denials in the future.
With efficient payment posting, we help medical practices achieve a faster payment cycle and give practice owners a true insight into the practice's financial status. Contact us to know how we can strengthen your payment posting and revenue collection strategy. Please fill the form below and we will get in touch with you.