Our experienced team handles small, mid-sized, and large volume payments, and we know that the cash posting process marks the end of the billing cycle. As well as affecting patient satisfaction and cash flow, this process also impacts other critical areas of a healthcare provider. ussurance hub’s billing professionals have a keen eye for detail and have complete and thorough knowledge of the billing cycle. They are responsible for processing the entire payments and cash posting process.
An expert and efficient payment posting team adheres to a set of procedures to ensure that each action is carried out accurately, and that errors that occur at the last minute are dealt with effectively. A high percentage of payment postings are successful and the team strives to close all payment postings by the last day of the month. Keeping a success rate of 100%, we work to complete projects within 24 to 48 hours with a turnaround time of 24-48 hours.
Cash posting services include the following:
Reconciliation of bank statements:
As part of our reconciliation process, we check bank statements against lockbox deposits, credit cards and electronic fund transfers to ensure:
o As a result, there are no unaccounted funds left to age, which requires follow-up and other administrative tasks.
o The objective is to eliminate secondary and tertiary claims and to avoid patient balances.
o To reduce the fallout from 120+ DSOs.
The following forms of payment are available:
co-pays, credit card payments, and lockbox payments.
Downloads for EFT/ERA:
o Several of our trained professionals download 835 files from a variety of clearinghouse websites such as Claims Remedi, Emdeon, RealMed, Navicure, Zimed Gateway, and any errors occurring during the downloading and uploading of the files will be handled by our supervisors.
Credit Card Payments :
o Due to the fact that many of these payments are made over the counter, by phone, or via email, we process them with the utmost sensitivity and scrutiny. The handling of credit card information is subject to a strict compliance policy.
How are EFT and ERA referred to in payment posting?
Electronic Funds Transfer is the full form of EFT. An electronic means of depositing due claims payments into the provider’s account. Many providers and insurance panels prefer to use this method. Electronic Remittance Advice, on the other hand, stands for Electronic Remittance Advice. According to the HIPAA regulations, it contains all payment information securely. These two features facilitate the payment posting process.
How does payment posting play an important role in medical billing?
It is not just about cash flow management when it comes to payment posting. Besides affecting the revenue cycle for the healthcare organization, it also provides insights about the reason for payer rejections, including delays in prior authorization of procedures, services that are not covered by insurance, and medical necessity.
Which is the preferred method for ussurance hub to handle payment posting with minimal errors?
Over the past decade, ussurance hub has accumulated considerable experience in posting payments. The team consists of experienced professionals. In order to avoid any kind of error, they adhere to a specific working procedure. They follow strict protocols and handle errors in the shortest amount of time possible. The customer will benefit from a greater success rate.