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payment posting

You need payments posted and claims filed in a timely manner, which means you need a system and a platform you can rely on. We have the tools to make sure insurance payments are posted to patient accounts based on the Explanation of Benefits (EOB) form in the client’s software systems, with a turnaround time between 24 to 48 hours. Daily payments are posted into the system where they are reconciled with the bank’s deposit sheet on a daily basis.

When our team of experienced medical billing outsourcing professionals receives scanned EOBs (Explanation of Benefits) and checks, these payments are entered into the system. As part of this task, we also charge appropriate patient accounts and initiate the process for denied claims in case actual claim is far below the expected one. Reconciliation takes place on a daily basis. Scanned EOBs and checks are sent to our team for Payment Posting. All payments are entered into the system. The amounts from EOBs/checks and amounts posted in the system are reconciled on a daily basis. A daily log is updated with these data.

Payment Posting Makes Medical Billing A Smooth and Effective Process

Significantly, a properly executed payment posting process enables healthcare professionals to locate opportunities to increase revenue by studying daily practice trends. Monitoring everyday trends within the practice management and sending payments may increase revenue. A correct payment posting mechanism is essential since it affects accurate billing and a seamless process.

There will always be problems when a medical billing procedure processes numerous claims and bills in a single day. When completed in an organized fashion, payment posting aids in resolving any issues brought on by incorrect calculations or entries as soon as they occur. It lessens problems like denials, identifies the uncovered procedures that require prior authorization, and notifies the patient of these things. Additionally, this facilitates the patient billing and payment procedure. It streamlines the billing process by saving time and lowering the risk of error. Here’s how payment posting can assist with medical billing.

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