Insurance follow-up is a billing function for ensuring optimal revenues, minimizing bad debts, reducing patient complaints and accelerating revenue cycles. Over the past 15 years, I have conducted numerous A/R analyses for various-sized medical practices and have found this key aspect is often overlooked. In some cases unpaid claims are re-filed without determining and correcting the cause of denial resulting in an endless cycle of rejections. When the watchful eye of the doctor or administrator is omitted from this vital task, valid charges are written off.
How does a physician or practice manager know when denied claims are promptly addressed, corrected and re-filed?
I recommend the following method:
- Run a 'Total A/R Aging Report' using the parameter 'Date of Service'
- Do not run reports showing 'Insurance Re-billing or Billing Dates'
- Generate a 'Patient Balances A/R Report' using the same parameter 'Date of Service'
- Subtract Patient Balances A/R data from the 'Total A/R Report' and it will provide accurate data on unpaid insurance charges
These reports should be run twice a month and provide information as to which insurance companies and patient charges are not meeting timely adjudication.
Tell Us: How often do you conduct insurance follow-up? Is it on your top priority list?
Questions? Contact Richard @ Rtamburello@e-urs.com
