IMPORTANCE OF ACCOUNTS RECEIVABLE RECOVERY IN MEDICAL BILLING

Medical billing is a process that requires a team of professionals having proficient in billing, coding, denial management, and ACCOUNTS RECEIVABLE handling. The financial stability of the medical center depends on maintaining positive cash flow and accurate payments over time. Despite following the guidelines, some claims might still need to be accepted or denied. This is where the AR recovery (accounts receivable) becomes crucial.

The team involved in AR recovery work on reopening denied claims to ensure the fulfillment of reimbursement from the third party, i.e., insurance providers. It has also been observed that a significant number of ‘denied claims’ are never reworked, which leads to unclaimed revenue for healthcare units.

This article highlights the importance of ACCOUNTS RECEIVABLE recovery in medical billing. Efficient account receivable practices rectify simple errors and lead to the recovery of lost revenue.