Efficient payment posting and receivables management are essential for maintaining a healthy cash flow and ensuring timely reimbursements in medical billing. At MediCharge Billing LLC, we provide comprehensive payment processing solutions that help healthcare providers track incoming payments, identify discrepancies, and manage outstanding receivables. Our goal is to streamline financial workflows, minimize errors, and maximize revenue recovery.
Payment Posting Services
Manual & Electronic Payment Posting
We accurately record and reconcile payments received from insurance companies, patients, and third-party payers. Whether payments are posted electronically through ERA (Electronic Remittance Advice) or manually, our team ensures that each transaction is correctly applied to the appropriate patient account.
Insurance Payment Posting
- Record payments, adjustments, and denials from insurance remittances.
- Reconcile payments against Explanation of Benefits (EOBs) and ERAs.
- Identify underpayments, overpayments, and contractual adjustments.
Patient Payment Posting
- Process and post co-pays, deductibles, and out-of-pocket payments received from patients.
- Ensure accurate payment allocation to avoid billing discrepancies.
- Generate updated patient statements for remaining balances.
Denial & Adjustment Posting
- Accurately post denied claims with detailed reason codes.
- Review payer adjustments to identify trends in reimbursement.
- Escalate denied or low-paid claims to the A/R team for resolution.
Receivables Management Services
Accounts Receivable (A/R) Follow-Up
Our A/R specialists actively monitor outstanding claims and unpaid balances to ensure timely collections. We conduct regular follow-ups with payers and patients, reducing revenue cycle delays.
Denial Management & Reprocessing
- Identify and categorize claim denials by root cause.
- Correct and resubmit denied claims for maximum reimbursement.
- Appeal incorrect denials with supporting documentation.
Payer & Patient Collections
- Contact insurance companies for delayed or missing payments.
- Send patient reminders for outstanding balances through calls, emails, and statements.
- Offer flexible payment plans to facilitate collections.
Reconciliation & Reporting
- Perform monthly reconciliations to ensure all payments align with the practice’s financial records.
- Generate detailed reports on payments, denials, and A/R status for better financial oversight.
- Provide insights into payer reimbursement trends and claim performance.