Tuesday, 15 December 2015

The Effective Way to Boost Efficiency in Medical Practice is to Make Efficient and Automate the Payment Posting Procedure

Payment posting is one of the crucial processes involved in the full service revenue cycle management business and marks the end of the medical billing cycle, where the payment records of every patient are recorded in the billing management software. Payment posting also spawns other processes which need continuous attention and appropriate action. Accurate and timely payment posting is critical to the success of any healthcare provider’s business.

Tausch Medical offers excellent payment posting solutions to medical practices with accurate and quick payment posting to make things easier. The effective way to increase productivity in your medical practice is to streamline and automate the payment posting service. Our team of Medical Billing Experts can handle small, mid-sized and large volume of payments.

Accurate and timely payment posting is critical to the success of any healthcare provider’s business where we are here to help you reach your payment goals. Payment posting helps you improve your productivity by automatically posting electronic insurance payments and streamlining the manual payment posting process.

Payment posting is made more complex because it requires to collate and compare information from diverse sources such as EOB's and denials from payers (the insurance companies), and checks from patients. Tausch Medical RCM team of can manage this entire process for you to deliver superior performance across many parameters such as higher accuracy, productivity and significant reduction in denials.

Payment Posting Involves in Two Ways:
  • Posting insurance data from EOB's
  • Posting payment data from ERA's to patient accounts
Steps Carried Out in Payment Posting Service Includes:
  • Identify line denials for medical necessity, non-covered or not authorized service etc. and prevent them from occurring again
  • Move payment as patient responsibility, if there is a difference between allowed amount and payment amount
  • Write-off the difference between actual claim submitted and claim received
  • Re-submit to insurance company
When the claim is processed by the carrier, they issue a check and prepare an Explanation of Benefit (EOB) document. EOB's consists of patient name, service dates, procedure codes, allowed amounts, denied amounts, deductibles, co-payments, etc. As part of the payment posting process, if the EOBs contain denied claims, they are taken up for denial management process again.

Benefits of Payment Posting Services:
  • Accurate payment posting process helps analyze the revenue cycle better for improvement opportunities to maximize revenues
  • Payment posting also involves posting adjustments and denials which help identify reason for problems and resolve recurring problems
  • Primary payment posted correctly leads to accurate Secondary Payer Billing
  • Reduction in errors due to verification of all payments posted
  • Improved cash-flow & patient satisfaction helps handle new clients with ease
We aim to be comprehensive in our services, and are an extension of your office. We understand that when you begin a partnership with Tausch Medical, partners hold each other countable trust is absolutely paramount. Contact us on 281-867-7921 to get to get more information about Payment Posting Services Pennsylvania. Tausch Medical team of experts provide professional medical billing services and fully dedicated to maintain long term, mutually profitable relationships with doctors and health practitioners by providing them with a elevated level of expertise, insight, and services.

Our List of Medical Billing Services Includes:
  • AR Follow Up Services
  • AR Management Services
  • Patient Chart Preparation Services
  • Medical Denial Management Services
  • Healthcare Phone Answering Services
  • Insurance Eligibility Verification Houston
  • Electronic Claim Submission Services in PA
  • Patient Appointment Confirmation Services
  • Patient Demographics & Charge Entry Services
Tausch Medical combines payment posting and denial management expertise with a pragmatic approach that delivers sustained, measurable value to our clients.

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