Accurate Payment Processing. Improved Collections. Analytical Decision Making.
Payment Posting Services
Payment Posting Services
The payment posting process, in many ways, provides a view of the effectiveness of your revenue cycle. It allows you to understand trends in reimbursements and perform analytics. Accurate payment posting offers clarity on the state of your revenue cycle, and, therefore, you must choose a highly efficient team to process payments.
The payment posting process, in many ways, provides a view of the effectiveness of your revenue cycle. It allows you to understand trends in reimbursements and perform analytics. Accurate payment posting offers clarity on the state of your revenue cycle, and, therefore, you must choose a highly efficient team to process payments.
Our Payment Posting Process
We process different types of remittances received with a high degree of accuracy and improved responsiveness and follow the procedures defined by our clients. We perform the following services:
Patient Payments.
We receive information on the point of service payments made by patients from our clients. These payments are made via cash/check/credit cards and could be on account of co-pays, deductibles, or non-covered services. Our team reviews the information received and adjusted the same against each patient account.
Insurance Posting
We process Insurance Payments in the following formats
Electronic Remittance Advisory.
We receive high volume ERAs from payers and process them in batches by importing them into the client’s practice management system. Each batch run throws exceptions that fall out, and we correct the same along with verification of batch totals.
Manual Posting
Our clients often send us scanned EOBs. Each EOB batch is accessed via secure FTPs or through the EHR system and processed in line with the client’s business rules for adjustments, write-offs, and balance transfer to secondary insurance companies or the patients.
Denial Posting.
Posting of claim denials is essential to get an accurate understanding of the customer’s A/R cycle. Denied claims are sent back by the payers in the form of ANSI codes for denials and sometimes with payer-specific medical coding guidelines.
We understand the payer-specific denial codes for most payers and have expertise in understanding ANSI standard denial codes. We record each claim denial in the practice management system and take actions to re-bill to the secondary insurance company, transfer the balance to the patient, write-off the amount, or send the claim for reprocessing.
Client Testimonials
Oklahoma based Medical Billing Company
“It means a lot to our company to see the MBW team sacrifice their time to help us all stay afloat. Their work and support help us take care of our clients on the front lines of the nasty virus. I am grateful for their willingness to help us at the expense of their comfort. Medical billing wholesalers’ team can rightly be called “The Power Team” going forward!”
Ready to take your business to the next level?
Get in touch today and receive a complimentary consultation.
Our users are Happy & Healthy
Proficient FTE Handling
Behavioral Collections Up by 50%
Credentialing Simplified
Lightning-Fast Support
Proactive AR Management
Finally Stress-Free
Cardiology Denials Cut by 35%
Healthcare partnerships
Effectively Combat Clinical Denials and Shift Focus to Denial Prevention
Benefits of Our Payment Posting Services
High Quality Assurance
Benefit from exceptional accuracy in payment posting with our global team, guaranteeing over 97% accuracy contractually, while typically delivering over 99%. This precision ensures reliable, efficient financial processing for your healthcare practice.
24-48 Hour Turnaround
Enjoy swift and seamless payment posting with our team’s 24-48 hour turnaround time, ensuring your revenue cycle stays on track.
Accurate A/R Analytics
Gain a clear view of your A/R cycle, understand denial reasons, identify covered services by payers, and learn typical payment processing times, all essential for informed decision-making and improved collections
Exception Processing Excellence
Trust in our proactive exception processing that adheres to your business rules, highlighting key trends, adjustments, or denials for prompt attention and resolution.
Comprehensive Service Coverage
Our services extend beyond just payment posting. We also help you understand which services are covered or not by different payers, aiding in better service planning and financial management for your practice.
30-50% Cost Savings
Experience 30-50% cost savings, optimizing your financial efficiency without compromising quality.
Explore our Latest Thinking
Request for Information for Payment Posting Services
To learn about our expertise in Payment Posting Services and how we can reduce your total costs to process, please fill the form below and one of our experts will get in touch with you.
