Understanding Payment Posting Services.pdf
- 2. Payment posting is essential to any solo practitioner’s or healthcare organization’s revenue cycle management. It entails posting and deposit functions and reconciling posting activities and deposits. The payment posting process impacts many other aspects of the healthcare organization, including efficiency, patient satisfaction, and overall financial performance. Payment posting also offers insight into a practice’s daily revenue stream and enables practices to identify and correct potential issues quickly. It is essential for your practice to be apt to see daily insurance payments from EOBs, patient payments, insurance checks from ERAs, and other information. In addition, having an efficient ERA/EOB payment posting system provides a clear picture of your day-to-day financial situation. Let’s have a deep understanding of payment posting services: HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM
- 3. Types of Payment Posting Payment posting in medical billing is done in two ways, depending on the level of insurance coverage and the patient’s financial ability: • Manual Posting: Manual posting is a payment posting completed by administrative staff and typically takes longer to fill out the information. This posting increases the likelihood of various errors, such as typos and delaying payment posting. • Auto Payment Posting: Auto payment posting is a software-driven approach that most industries choose as their digital solution to speed up the medical billing process and ensure a consistent revenue stream. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM
- 4. Medical payment posting, as a critical step in the medical billing process and an essential component of revenue cycle management, provides the following benefits when done correctly: • Keeping track of denials and reducing resolution time • Improved Claim Submission Accuracy to Secondary Payers • Improves the Active Process • Recurrent problems are resolved HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM
- 5. Undoubtedly, accurate payment posting impacts overall efficiency and infrastructure. Medical billing and coding service providers such as 24/7 Medical Billing Services assure accuracy and aid in determining the cause of low inflows. Don’t hesitate to contact our billing experts to improve your overall medical billing and payment posting process. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ INFO@247MEDICALBILLINGSERVICES.COM
- 6. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses. INFO@247MEDICALBILLINGSERVICES.COM
- 7. HTTPS://WWW.247MEDICALBILLINGSERVICES.COM/ Media Contact: 24/7 Medical Billing Services Georgia 3001 Greenfield Drive, Marietta GA 30068 Ohio 28405 Osborn Road, Cleveland, OH 44140 Texas 2028 E Ben White Blvd, #240-1030 Austin TX, 78741 Delaware 16192 Coastal Highway, Lewes, Delaware 19958, United States Phone no / Fax : +1 888-502-0537 Email us: info@247medicalbillingservices.com INFO@247MEDICALBILLINGSERVICES.COM