Insurance Accounts Receivables
At Core Practice Solutions we understand that each day funds that belong to your practice for services rendered are not in your account is costing you money!
The first step is ensuring that all providers are signed up for Direct Deposit and online portals where possible. With the constant changing landscape of Insurance Companies and technology, we keep a close pulse on which insurances offer these services and which do not. We are familiar with the process and can assist you in signing up each provider accordingly.
We have a dialed in formula for working aging insurance accounts receivables to maximize time efficiency in outstanding debts that drastically reduces on hold phone time and speed up the process for the money to be deposited into your account.
If an amendment or resubmission with additional information is needed, our team is on it! We will ensure that information is sent to the insurance company via the fastest avenue they allow.
We also believe in fighting for your patient’s insurance to cover every procedure to the maximum amount as they should!
Our team reviews every explanation of benefits statement in detail to ensure accuracy in allocating the payment as well as ensuring the payout (if less than expected) checks out. Detailed ledger notes are made if an insurance payment results in a balance or a credit to your patient and a copy of the statement form insurance imported into the patient’s chart.
Posting to your practice CRM will happen 1-2 business days behind and be reconciled daily to match your bank statement making for a happy accountant!
Trends for clean claim submission are tracked and feedback with monitors submitted monthly to you and your Office Manager so that ongoing training for administrators can be targeted and effective.
Patient Accounts Receivables
We understand that collecting balances from patients that were unexpected is a delicate topic. That is why we work closely with your team to customize a protocol to replicate the in house protocol that patient’s are familiar with.
At Core Practice Solutions we ensure to do our due diligence with the insurance and request any additional information from your team as needed to be prepared to explain the reason for the unexpected balance to the patient in terms they will understand. Our team is both professional and understanding with patients striving to maintain that good patient relationship with your practice but also ensuring that your practice is compensated for the services they rendered.
Prompt and regular contact is made with all possible avenues of contact utilized. Detailed ledger notes to track any communications are recorded within the CRM that can be accessed by the administrative team at any time.
Our goal is to be understanding of a patient’s circumstances and work with them to avoid any credit bureau action. All accounts pending to go to collections are flagged for the office manager to review prior to submission to any credit bureau action.