Sunknowledge Makes Accounts Receivable Management its Own and How !!!!!!

Sunknowledge Services Inc, the quintessential medical billing company of the USA has mastered the steps of revenue cycle management like no other of its counterparts. We have been on the business for the over last decade thus taking the art and science of medical billing for various types of medical service providers to a new level of professionalism and accuracy. As a result, we boast of an eclectic clientele of all the top medical firms who rely on us for their revenue regeneration purpose. We provide them with customized at all steps resulting in 100% client satisfaction and zero attrition rate.

‘Accounts Receivable Management’ is a major area of revenue cycle management which deals with the unfulfilled financial accounts of the service provider as against the claim submitted by the practice management. It is the penultimate step of the revenue recovery cycle which is explained as follows.

• Eligibility and authorization verification


• Patient Information Entry


• Coding


• Charge Entry


• Claim Submission


• Payment posting


• Accounts receivable management


• Denial Management


• Reporting    

The Accounts receivable management follows up service is designed to coordinate with the payer to pay up the outstanding amount and increase the revenue inflow for the service provider. The process of accounts receivable begins after the practice creates and sends the claim to the various payer companies. The magnitude of the process depends upon the size of the claim and unpaid amount and the time period elapsed since the submission of the same.

The procedure of accounts receivable includes the following steps.

Accounts Receivable Analysis: 14% of all claims submitted to the payer are denied and have to re-submitted, appealed or written off by the providers.50% of the claims are never re-filed, 50-70% of the denied claims have the higher chance of recovery.

Follow up with payer: The payer company needs to be aggressively followed up with in order to abreast of the status of the outstanding payment at all stages of the accounts tenure with the payer to ensure payment.

Closure of the claim after the payment is met or denial management in case of further outstanding.