How to Reduce Days in A/R with Smart Denial Management Strategies

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 Timely reimbursement is the lifeblood of a financially healthy medical practice. Yet, increasing Days in Accounts Receivable (A/R) continues to be one of the most pressing revenue cycle issues for healthcare providers. One of the major culprits behind this issue? Denials. In this blog, we explore how strategic denial management not only reduces days in A/R but also improves cash flow and strengthens your bottom line. Understanding Days in A/R Days in A/R refers to the average number of days it takes for a practice to collect payments due after services have been provided. Industry benchmarks typically suggest keeping A/R days under 35. Anything higher signals inefficiencies - and likely unresolved denials. How Claim Denials Affect A/R Denied claims delay payments and increase administrative burden. Without an effective process to identify, appeal, and correct them, your A/R days will climb - and revenue will suffer. Top causes of denials include: Missing or incorrect ...
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Internal Medicine Practices Handling A Unique Billing Process Gain From Specialized Medical Billing

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Medical billing can be challenging for all types of medical practices; however, for internal medicine physicians/internists, it can be even trickier as the billing procedure for them is quite unique. Internal Medicine Practices is a medical practice providing healthcare services for adult patients

Why is Billing Unique for Internists?

  • For the majority of medical conditions, patients first go to internal medicine practitioners for diagnosis and basic treatment. From there they are referred to specialists for further medical care if required. Due to this, internists become dependent on other practices or practitioners for payment and the billing process gets complicated
  • Internal medicine practitioners offer diverse services. They see approximately 30-40 patients on a daily basis. Besides hospitals and nursing homes, they also visit patients at offices and homes. Due to a high number of patients, they need to handle a large volume of claims which creates a greater possibility for errors and denials
  • As internists need to collaborate with multiple practitioners and deal with various patients, regular changes in coding also complicate the billing process

Hence Internists prefer outsourcing billing and coding services to a billing partner so that minor mistakes such as negligence in procedure billing, under-coding office visits, or errors in coding do not hamper their chances of getting paid what they deserve.

Since the billing partner will be entirely focused on filing claims, following up with insurance companies, and handling claim denials, it saves money and time for Internal Medicine Billing practices which can be used on patient care.

To learn more about Internal Medicine Practices Handling A Unique Billing Process Gain From Specialized Medical Billing, click here: https://bit.ly/3WICklH Contact us at info@medicalbillersandcoders.com/ 888-357-3226.

Location: United States

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