We at, DataPlusValue, are involved in providing Payment Posting In Medical Billing which is considered as the chief processes. The payments in lieu of entitlements that are acknowledged from the payer and patients are provided in the medical billing system of the client in order to resolve the claim.
We are also involved in doing electronic payment posting in the medical billing software that handles all the concessions physically in order to assure that no payment has been neglected.
For the future reference, all the posted ERAs are stored safely in the billing system or a document management system.
A payment posting process which is done in the proper way often helps in recognizing the opportunities that enhance revenue by watching for daily trends within your practice.
Since the payment posting has good prospective to increase profits as well as even out the complete medical billing process, it is essential to get an accurate process in place.
Insurance Payment Posting: All payers send an explanation of benefits or electronic remittance advice to the payment of a claim. The medical billing staffs posts all these payments directly into the individual patient accounts beside that specific claim to resolve them.
The payment posting is controlled as per the client-specific rules that indicate the cut-off levels in order to take write-offs, adjustments as well as refund rules.
When the client's office delays in placing the payer checks or sending the ERAs and EOBs for posting than a negative balance succeeds for that claim which is considered as a false demonstration of the actual scenario.
Remember that a false depiction can show an exaggerated AR, which might result in Physicians not knowing accurately how much revenue is due for them.
Patient Cash Posting: There are can be a number of reasons why the patient requires paying a part of the expenses comprising co-pays, deductible as well as non-covered services. The provider has the ability to set a mandate for taking write-offs, in case the amount due for the patients is very nominal.
In case the amount is huge then it requires being collected from the patients prior to or after offering the services.
Perks of payment posting in Medical billing: