Accounts Receivable Recovery

At Code Billium (CB), we specialize in helping hospitals, doctors’ offices, and other healthcare organizations recover aging accounts receivable in medical billing. With years of experience in managing and collecting outstanding payments owed to our healthcare provider clients for services rendered, we are here to help you optimize your revenue cycle management.

Key Steps in Aging Accounts Receivable (A/R) Recovery

1. Analysis of Accounts Receivable Aging Report
   The first step is to generate an aging report from our client’s billing system, categorizing outstanding invoices based on their age (typically 30 days, 60 days, 90 days, and over 90 days). This report helps identify overdue accounts that require attention.

2. Identification of Delinquent Accounts
   We review the aging report to identify accounts that have not been paid within the expected timeframe. These delinquent accounts are prioritized for follow-up.

3. Verification of Insurance Information
   If the outstanding balance is with an insurance company or another payer, our billing team verifies the insurance information, including coverage details and any outstanding claims that may have been denied or underpaid.

4. Appeals and Resubmissions
   For denied or underpaid claims, the Code Billium (CB) medical billing team may need to submit appeals or resubmit claims with additional documentation to ensure proper reimbursement.

5. Negotiation and Payment Arrangements
   In cases where insurance companies or other payers are unable to pay the full amount owed, we may negotiate payment arrangements or settlements based on the financial situation of the responsible party.

6. Monitoring and Reporting
   We continuously monitor the progress of A/R recovery efforts and generate reports to track collections performance. These reports help identify areas for improvement and measure the effectiveness of collection strategies.

7. Write-offs or Bad Debt Management
   For accounts deemed uncollectible after exhaustive efforts, healthcare providers may need to write off the balance as bad debt. This involves adjusting the A/R balance and may require compliance with regulatory guidelines.

8. Continuous Process Improvement
   Aging A/R recovery is an ongoing process. We assist healthcare providers in continuously evaluating and improving their billing and collection procedures to minimize outstanding balances and optimize revenue cycle management.

By effectively managing aging accounts receivable, Code Billium (CB) helps physicians and healthcare providers improve cash flow, reduce bad debt, and ensure timely reimbursement for services provided.

If you would like to explore how Code Billium (CB) can help your healthcare organization maximize its accounts receivable recovery, contact us today!