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The Importance of Claim Follow-up to your Reimbursement Cycle

On Oct 18, 2018

Medical billing is a complicated process, and getting through the process smoothly requires awareness from a well-trained staff. An effective practice management system is key to facilitating clean and accurate claims. 

Once you’ve ensured efficient claims processing, and high first pass acceptance rates, the next step is to secure the owed amount from the payer in a timely manner.

Here are the top 3 reasons why claim follow-up is important.

  1. Helps recover overdue payments - with a system in place to quickly identify and recover past-due payments, it becomes easier to receive payments on time.
  2. Claims denied can be resolved - with the ability to flag denied claims, you can find the denial reason, and  fix the errors. Instead of waiting weeks for a denial reason from the payer, you can make the required corrections and send in a new claim request.
  3. Claims pending more information can be recovered - sometimes claims are kept pending for a longer amount of time due to additional information needed. With proper follow-up, you can take action to speed up the process. 

The financial health and success of any practice or healthcare service provider is dependent on maintaining positive cash flow. In order to provide patient care and cover expenses, it’s important that payments are not delayed, lost, or denied.

At CollaborateMD, we know one of your daily tasks is pursuing every dollar owed. Our medical billing software automates this task with our  Claim Follow-Up feature that generates patient and payer collection worklists, allowing you to prioritize follow-up tasks, boost collections, and reduce your days in A/R.

With Claim-Follow up you are able to track and resolve denials, track follow-up history, prioritize custom worklists of balance-due accounts, and easily view A/R reporting to pinpoint and resolve any issues. This key billing feature helps you capture more revenue and creates a more sustainable medical practice. 

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Jennifer Jourdan

By Jennifer Jourdan

Jennifer is a Marketing Specialist at CollaborateMD dedicated to helping our customers and partners grow their business and stay informed on healthcare industry news. Jennifer enjoys researching the main topics impacting patient care, medical billing and coding professionals, and Health IT. She writes tips and creates collateral pieces to help clients improve their claim reimbursement cycles, and net profits.

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