Our Accounts Receivable Process
Our team of A/R experts, AAPC and AHIMA certified coders, and billers follow a field-tested holistic approach designed to maximize revenue and minimize your administrative burdens. Our A/R process includes:
- Patient Billing and Invoicing: Once you render a service to your patient, we generate and send out bills and invoices on your behalf. These invoices include details regarding the services provided, date of service, amount owed, and payment options.
- Insurance Claim Submissions: After the patient has been billed, we submit clean claims to the appropriate insurance company. The submitted claims are audited to ensure it contains all relevant medical codes and specialty-specific modifiers, procedural, diagnoses, and treatment-related information, as well as any necessary attachments such as medical records, medical necessity, and other supporting documents.
- Claims Follow-up: Once the claims have been submitted, we frequently follow up with the insurance companies to ensure that they are processed and paid in a timely manner. This involves tracking the claims and identifying any issues or delays that may arise, as well as resolving any errors or discrepancies.
- Denials and Appeals Management: In some cases, insurance companies may deny claims, either partially or in full. When this happens, we perform root-cause analysis to identify the reasons for the denial and develop an appeal plan to challenge the decision. This involves providing additional documentation, working with the insurance company to clarify misunderstandings, or pursuing legal action if necessary.
- Collections: When patients fail to pay their bills or when insurance companies do not cover the full cost of medical services, we work to pursue collections. This involves sending out past-due notices, negotiating payment plans with your patients, or engaging with collection agencies to recover outstanding debts.
Optimized Accounts Receivable Management Process
Say goodbye to unpaid bills and lost revenue. Let us help you streamline your billing process, improve claim submissions, and optimize collections for maximized revenue growth.
Standing high on outstanding account receivables is what every healthcare organization tries to avoid. The accounts receivable process plays a vital role in the smooth functioning of a practice’s revenue cycle. Errors in this phase are difficult to reverse as they strain your existing financial resources, require additional man-hours, and at times lead to expensive write-offs. Typically there are two ways to address this issue - hire an in-house team of certified coders, billers, and AR experts or outsource your accounts receivable process to an experienced service provider who can weed out your financial woes for a fraction of that cost.
At Bristol Healthcare, we ensure all claims are paid in the most efficient and timely manner. We utilize industry best practices and adhere to a proven denial management module based on your payer mix and outstanding account receivables. All demos, charges, and payments are processed within 12 - 24 hours of receipt and clean claims are sent to the insurance companies with follow-up calls triggered automatically by BristolByte™. Our accuracy and turnaround time has always been higher than the industry standards.
We utilize BristolByte™ our proprietary cloud-based workflow management software, tactically designed for healthcare entities for effective streamlining of their workflow. Integrated with machine learning algorithms, high-standard A/R metrics, and interactive dashboards it helps you track and monitor every step of the medical billing process and provides detailed analytical reports to help identify opportunities and avenues for improvement.
Why Choose Bristol Healthcare?
- Cost Savings: A cost-effective alternative to hiring, training, and retaining in-house staff. In addition, we help negotiate better rates with insurance companies, leading to increased revenue for your practice.
- Affordable Services:Choose from a wide range of flexible pricing plans that are light on your wallet.
- Improved Cash Flow: Improve cash flow by reducing the time it takes to process claims and collect payments. We help shrink your accounts receivables within 60 days or less and bring your outstanding A/R days down to 5 or more. We guarantee 97% collection of all unpaid bills.
- Reduced Risk: We have compliance programs in place to ensure that your processes follow all regulations and guidelines. This reduces the risk of errors or fraudulent activities, which can result in costly fines and penalties.
- Trends Analysis: We generate periodic reports on the current status of you’re A/R and provide detailed reports on the current trends to help identify opportunities and avenues for improvement.
- Ancillary Financial Services: We provide a host of end-to-end revenue cycle services that are designed to minimize your financial risk exposure.
- Certified Coders: All our coders are AAPC and AHIMA certified and possess extensive experience in CPT, HCPS, and ICD coding. They stay constantly updated on the latest AMA and CMS guidelines.
- Staff Training: To navigate the healthcare revenue cycle complexities with ease, our staff members undergo periodic training to stay up-to-date on the latest billing regulations and procedures.
- Software Expertise: Through years of collaboration with various practices and billing offices our team has become well-versed with most of the popular billing, EHR, and RCM systems enabling a smooth and seamless transition.
- Dedicated Manager: Each client is assigned a dedicated project manager and accountability partner to provide you with personalized attention, and serve as your single point of contact.
- Exceptional Support: We give equal importance to each receivable irrespective of its size and source. A highly experienced team of certified medical coders with proven expertise will be at your disposal around the clock for faster turnaround times and assist you with any queries that may arise.
Schedule a Free Consultation Today
Get in touch with us to learn more about our accounts receivable management services, as well as our other financial management services. We look forward to helping you achieve your financial goals and grow your business!Connect
Our team of experts are well versed and experienced with most of the popular software used by clients today.
What Our Clients Say
Together with our clients, BHS experts partner to achieve desired outcomes
and push the boundaries of what's possible.
“Jay – Great. I really appreciate your in-depth analysis on our outstanding. Your AR recovery process has been excellent.”
“We greatly appreciate the conscientious nature of your team. Their concern for quality is clear in the work that they perform.”
“Your attention to detail is excellent. Thanks for catching my staff’s error. I just love talking to Ray about process improvements.”
“Jay! Thanks to you and your team for formulating a winning team! I am proud to be aligned with you guys!”
“Our partnership with Bristol proved to be a game-changer. Their expertise in revenue cycle management and their commitment to delivering excellent service has truly transformed our practice's financial outlook.”
“If it wasn’t for your verification team, I would’ve never known I needed authorization for this surgical procedure. They have consistently sent verified reports on time, every day.”
“I highly recommend Bristol to any healthcare provider seeking a reliable and efficient medical billing partner. Their commitment to excellence, attention to detail, and dedication to maximizing revenue has been instrumental in helping our practice thrive financially.”
“Do you guys ever sleep? Thank you for answering all my questions immediately. I can’t imagine what I will do without your team.”
“I thank your coders for clearing our four months backlog within two weeks. I appreciate all your recommendations, it surely helps to improve our documentation.”
“Partnering with Bristol has been one of the best decisions I've made for my clinic, and I am grateful for their invaluable support."
“You have consistently provided accurate billing entries for us. I thank the entire team for a job well done."
“Your follow-up methodology seems to be working. Our collections have been increasing month on month. Great job! Stay on it.”
“I wanted to pass on our appreciation for the work the Bristol team is doing on the new BristolByte™ Quick Save feature. I am quite impressed by the speed with which the team is making design changes and implementing a process that will surely save us time. We appreciate it!”
“Their team took the time to understand our practice’s unique needs and workflows to implement a personalized billing process that ensured improved reimbursement rates. We’ve now eliminated duplicate data entry, minimized errors, and saved our staff valuable time.“
“With their expertise in managing our billing processes, we have been able to focus on what truly matters – delivering outstanding orthopedic care to our patients.”