AR Recovery
HS Med Solutions AR Recovery Services Enhance Revenue Potential
At HS Med Solutions, we offer comprehensive AR recovery services designed to optimize revenue streams, particularly targeting aged AR accounts exceeding 120 days. Our innovative approach consistently delivers impressive results, even for accounts that were previously deemed unrecoverable.
Unlike other medical billing companies that bundle AR recovery with broader revenue cycle management packages, HS Med Solutions specializes in standalone AR medical billing recovery services. We believe in customized solutions that align with your business’s specific requirements, avoiding a generic approach.
HS Med Solutions' Four-Step Approach to AR Recovery
Over time, HS Med Solutions has refined its strategy for handling aging AR accounts, drawing from our deep expertise in the industry. Our AR recovery service stands out for its efficient and highly effective streamlined process, known for its speed and reliability.
Thorough Assessment Process
When partnering with a new client for AR recovery solutions, our dedicated team at HS Med Solutions initiates a systematic evaluation of each unresolved claim. We meticulously review claims to identify any that may have lapsed or become uncollectible due to various factors, guaranteeing that no potentially recoverable claim goes unnoticed. Our method extends beyond focusing solely on high-value claims; we meticulously inspect all claims, acknowledging the significance of even smaller amounts in contributing to our clients’ overall recovery.
Focused Approach on Aging AR Accounts
At HS Med Solutions, we prioritize the resolution of older unpaid claims, emphasizing timely processing to prevent claim expiration. Our use of cutting-edge analytical tools aids in reducing medical account receivables, keeping us aligned with payer requirements and optimizing revenue collection. Through diligent follow-ups with payers, we proactively recover overdue payments, enabling you to focus on your practice with the assurance that we are dedicated to safeguarding your financial interests.
Claim Rectification and Resubmission
HS Med Solutions’ specialized team is committed to preventing claim rejections, denials, or underpayments stemming from inadequate follow-up. We meticulously review and correct any errors or ambiguities in claims, followed by submitting appeals for reconsideration by insurance or government payers. Moreover, we closely track claim denials and rejections, pinpointing recurring issues to implement lasting solutions within your revenue cycle management system.
Patient Engagement
Once our AR team establishes that an outstanding balance is the patient’s responsibility, we generate a comprehensive and comprehensible report that is promptly sent to them. Alternatively, we can manage direct communication with your patients upon your request. Unlike traditional collection agencies, you can trust that our approach to patient communication is conducted with professionalism and sensitivity.
We’ve found that transparent billing practices lead to higher chances of bill settlement, as patients are more inclined to pay when they understand and agree with the charges. Therefore, we focus on making all details clear and easily understandable. If desired, we also handle phone inquiries and address questions on your behalf, ensuring a seamless and hassle-free experience for both you and your patients.
AR Recovery is a focal point of our expertise
All Claims Pursued
At HS Med Solutions, we stand out by pursuing every claim diligently, irrespective of its size or perceived likelihood of payment. Unlike some billing companies that may overlook smaller claims or those deemed less probable for reimbursement, our efficient system ensures that we actively seek reimbursement for every claim. This comprehensive approach helps minimize medical account receivables and maximizes revenue potential for our clients.
Optimized Recovery
Our priority at HS Med Solutions is to prevent unnecessary claim expirations by implementing an efficient and strategic approach to medical recovery services. Our goal is to achieve maximum recovery for our clients by prioritizing claims and leveraging industry-leading strategies and technologies.
Top-tier AR Team
Upon engaging HS Med Solutions for AR recovery services, we deploy a dedicated team of highly experienced medical billers. Each team member is assigned to meticulously investigate every claim within your AR, ensuring thoroughness and accuracy in the recovery process.
No-Risk Payment Model
With HS Med Solutions, you pay only for successful reimbursement outcomes. Despite the considerable effort involved in reviewing all your unpaid claims, there's no risk of financial loss regarding old AR. Our fees are structured based on a small percentage of the amount successfully recovered. In the event that we are unable to recover payment for a claim, you incur no charges, providing you with peace of mind and eliminating any financial risk.
Exceeding 90% Collection Ratios
Thanks to our highly skilled AR recovery services team, we consistently achieve collection ratios surpassing 90% for claims dating back up to one year. This remarkable success in revenue recovery can greatly influence the financial prosperity of any medical business, highlighting the effectiveness of our dedicated recovery efforts.
Addressing Rejections and Denials
Our medical recovery services excel at resolving the majority of claim rejections and denials, which often result from correctable errors or omissions. Our team efficiently handles these issues, ensuring a high success rate in resolving even more complex billing challenges. This underscores the effectiveness of our comprehensive approach in identifying and rectifying intricate issues, ultimately contributing to improved billing outcomes for our clients.
HS Med Solutions has emerged as a renowned leader and trusted partner in medical accounts receivable collections, showcasing a track record of delivering tangible outcomes. Our proficiency in intricate medical coding and AR management services is what sets us apart, underpinned by our extensive industry knowledge. We cater to healthcare establishments of all scales, specializing in supporting physicians, laboratories, radiology & imaging centers, and hospitals.
We acknowledge the inherent challenge of balancing patient care with financial responsibilities, understanding the strain that financial management can impose. If you’re grappling with financial concerns, partnering with a reputable medical billing company like HS Med Solutions could offer the resolution you seek, allowing you to prioritize patient care while ensuring your financial health remains robust.
