AR Recovery
Utilize Our AR Services to Recover All of Your Payments
Recovery of unpaid income from accounts open for more than 120 days is provided by 247 Virtual Solution, which offers AR healthcare receivables solutions and management services. We've been able to retrieve more money using our approach from accounts that were previously thought to be irreparable.
Medical billing collection agencies typically offer accounts receivable recovery services as part of a revenue cycle management package, so it is uncommon for them to offer these services separately. Our AR management solutions are not a one-size-fits-all approach; rather, they are customized to meet the unique needs of your company.
Our Services
Our technique for handling the accounts receivable process has been refined through many years of practice. We have developed a simplified strategy that is both quick and effective in its execution.
01
Systematic Evaluation
When our accounts receivable managers take on a new client, they begin with a thorough evaluation of all outstanding claims and an in-depth analysis of the AR. We find every one that might be salvageable and get to work on them, even though some might have expired or stopped being collectable.
We’re not just searching for “low hanging fruit” when we examine the billing process for accounts receivable. Since we understand how quickly smaller amounts can add up for our clients, we examine every claim that may still be paid, unlike many AR collection companies that solely concentrate on billing large-value medical claims in elder AR.
02
Prioritization
A high emphasis is given to analysing and following up on outstanding claims, so that we can process them before they expire. To be eligible for reimbursement, claims must be filed, processed, and submitted on time. By using sophisticated analytical techniques, we’re able to keep up with the ever-changing needs of individual payers and ensure that you get the most money possible. Your bottom line will improve as a result of our constant efforts to collect outstanding payments from your customers. With our accounts receivable management services, you can concentrate on your practise while we take care of the backlog.
03
Claim Correction
It is our responsibility to ensure that our specialized task force does not deny, underpay, or reject any claim. We have the ability to monitor your claims, even if they have previously been rejected or denied. As a result, they can identify and permanently eliminate the underlying causes of issues with your revenue cycle management system. After making the required corrections or clarifications, we proceed correctly when appealing claims recovery in order to get the insurance company or government payers to reconsider the payment. This tactical move will significantly increase the financial stability of your practice. Healthcare providers must streamline their accounts receivable management procedures to guarantee prompt payment.
04
AR Recovery
Our specialty is recovering those challenging claims that have not been collected, and we are here to assist you in doing so. Our service’s technologically advanced platform, which combines extensive analytics, more than 40 algorithms, and automated procedures, has helped healthcare providers recover millions of dollars in revenue over the years.
05
Handling Denials
Both patients and doctors worry excessively when medical claims are rejected for different reasons. An experienced medical billing and coding business, Outsource Strategies International (OSI), can help decrease insurance payment rejections by providing quick and accurate medical recovery services. In order to optimize reimbursement and enhance revenue management, we assist medical practises in recovering outstanding claims. As a result of our services, you’ll have more time and resources to devote to your primary responsibilities and patient care.
06
Medical Billing & Coding
We at 247 virtualsolution pride ourselves on providing high-quality medical coding and billing services at competitive rates. As long as we make a difference for you, we’ll keep our money. Our medical billing services are geared on maximizing your bottom line. You can concentrate on providing exceptional patient care while we handle your medical bills, medical coding, and accounts receivables.
What Is AR?
A healthcare organization’s accounts receivable follow-up team is responsible for revisiting claims that have been refused in order to maximise insurance company reimbursements. The days of in-house medical billing and revenue cycle management are over. In today’s world, A/R follow-ups need skilled billing personnel.
Our Process
01
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Gathering Data
When reviewing the AR ageing report, this phase includes the identification and evaluation of the claims stated. After reviewing the policy, the team determines which claims need to be cancelled.
02
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Making Recoveries
In this phase, claims that have been deemed uncollectible or for claims that were not paid at the agreed rate by the healthcare provider are identified.
03
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Finalizing
A new set of claims is submitted when all relevant billing information, such as the claims processing address and compliance with other medical billing standards, have been verified. A patient bill is prepared according to the client’s standards once the payment information for pending claims have been entered into the system.