Record Receivable Process and Management Services Offered By a Team of Professionals
Accounts Receivable – All social insurance suppliers claim a momentous resource for example records of sales procedure and the executive’s administrations on the grounds that without this administration framework no human services association is finished. To precisely deal with every one of your records receivables and recuperation, an orderly and streamlined framework that would control every one of your records is required, so for this situation, an extremely quick and successful path is to redistribute all your social insurance accounts receivables to Magnet Medical. It can give you simple access to the arrangements with quality and efficiency at efficient costs.
Magnet Medical is one of the top seaward associations arranged in India that give a high class record of sale the board administrations. With us you will most likely accomplish every single fundamental target to recuperate your assets quickly alongside rearranging and preparing the staff to continue every one of the activities, for example, taking a shot at protection dissents and claims as proficient as could be expected under the circumstances
What is Accounts receivable management?
Amid a previous couple of years, Magnet Medical Coding Solutions has helped therapeutic practices recuperate a huge number of dollars from insurance agencies in “lost” repayments and refusals. This administration is perfect for therapeutic practices that would prefer not to redistribute their whole charging yet just recuperate their old record receivables
A portion of Our Accounts Receivables and Denial Management administrations are:
Protection Follow up – We have a skill in creating Aging report from the charging framework, isolating it by top payers, dissecting accounts with each case and thus, the exceptional cases are re-charged to the individual insurance agencies with the right activities and following follow up until it gets repaid from the payers.
Refusal Management – We track all the disavowal the executive’s benefits and denied guarantees by creating Payer savvy forswearing status code report and break down the total explanation for every disavowal with the goal that lasting obsession for the case dismissals are considered. Aside from this beware of these cases is additionally track until it gets paid. It causes us in recognizing the holes over the charging procedure and fixing the blunders securely. Our staff screens the installment design from various payers and set up a ready component when deviation happens.
Requests for Denied Claims – With Magnet Medical Coding Solutions, you will get a standard interest process. Each case that should be bid is completely explored under the documenting limit and taken consideration by our group. Bid letters are set up with supporting documentation and kept in the mutual organizer for the customer’s endorsement.
Tolerant Follow up – We complete an efficient catch up with the patient’s so as to acquire the missing patient’s data, protection data, and dialog in regards to his or her extraordinary collectibles. We have a committed in headed phone number for noting the patient calls. Our accomplished staff continues following the patient’s bills and catches up with every patient until the parity money is gotten.
What is the process involved in Accounts receivable management?
An Account receivable management process involves the following :
- Credit rating i.e the paying ability of the customers shall be reviewed before agreeing to any terms and conditions
- Continuously monitoring any risk of non-payment or delay in receiving the payments
- Customer relations should be maintained and thus to reduce the bad debts
- Addressing the complaints of the customers
- After receiving the payments, the balances in the particular account receivable should be reduced
- Preventing any bad debts of the receivables outstanding during a particular period.
Old Accounts Receivable Clean-up Projects – In this procedure, we chip away at your old records receivables gathered either by any accumulations, uncertain or uncollectible adjusts left by your past merchants. When we get the crude report from our customer, we break down and think of a solid activity plan intending to the old collectibles and offer the equivalent with our customer.
Post endorsement from our customer, we convey our accomplished staff and organize the old Account Receivables dependent on accumulation systems and guarantee the snappier goals of the cases. We share a safe report with our customers featuring the advancement we are making in the old records receivable accumulations.