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With the increase in demand for substance abuse and behavioral health services, we are seeing an increase in denied claims, frozen claim payments, and delayed overall reimbursement. Often, there are simple remedies for delayed aging. Other times, it requires ongoing persistence to pursue and receive delayed claims. RevWerx is well equipped to identify what the barrier is and pursue the claims to closing. Consider us to be your billing department, not your billing company.
Aging collections are patient bills that have gone unpaid, usually by more than thirty days. Outstanding customer invoices and credit memos are categorized by date ranges to determine how long a bill has been overdue. Healthcare companies apply aging to understand the effectiveness of its credit and collections functions and to estimate potential bad debts.
The bottom line is that aging collections hold up the entire healthcare RCM billing process. Proactive strategies can help providers with complex claims, unpaid bills, and practice profitability. Our RevWerx team can reinvent your billing approach by:
Typically, our RevWerx team starts this process with an in-depth review of all aging claims. We do this by auditing all insurance correspondence and reconciling billed and captured claims. We also audit the corresponding documentation and records requests from payors. Regardless of the issues, we will pursue the claims to the end. That means that RevWerx will stay on the case until all appeals are denied, or claims are paid and closed.
The RevWerx team is composed of experts in the aging collections management field. We have a wide range of methods to improve the aging collections process, and some of our tips include:
These tips are part of the comprehensive training that your team will receive as part of your collaboration with RevWerx. We not only perform outstanding aging collections management, but we will also teach your team how they can sustain the changes to systems and workflows. That’s one of the many reasons why RevWerx is unlike any other resource in the healthcare industry. We want to give your team the aging collections tools that they need and make ourselves irrelevant in the process.
If you are a substance abuse treatment center or mental health treatment facility, your focus is on your patients. Your day-to-day priority is the health and well-being of the people in your care, not tracking down delinquent payments or dealing with insurance companies. Our RevWerx team can handle your aging collections management, insurance reimbursement, and insurance claim management. Reach out to our team today by calling 833.309.0138 or completing our secure online form to learn more about our aging collections management services.