Medical Accounts Receivable Services

Is your practice facing challenges in collecting payments and following up on dues? These issues can disrupt cash flow, impact operational efficiency, and hinder resource investment. The inability to collect your due on time may affect your practice’s financial stability. Partnering with an experienced medical accounts receivable service provider will help resolve all your concerns. We specialize in assisting healthcare practices, unlocking owed funds, and improving financial processes.

24

Years of Experience

10+

Industry Verticals

5000+

Experienced Professionals

StripMedical Accounts Receivable Services

Outsource Healthcare Accounts Receivable Services to the Expert

Accounts Receivable (AR) management is a dedicated process where in unwanted account aging, escalating number of AR days and denials can be checked. Invensis Technologies is among the leading Healthcare BPO companies, and we provide reliable and systematic Accounts Receivable Management Outsourcing Services for Medical and Healthcare providers to enable your business to shorten the revenue cycle and improve your cash flow.

We have been offering comprehensive medical accounts receivable services to healthcare providers in the US since 2000. Our medical AR services follow up with patients and insurance companies on dues and associated functions such as remittance advice, charge entry, appeal, explanation of benefits, etc. Over the years, we have supported various healthcare businesses, including hospitals, clinics, physician practices, nursing homes, and medical billing companies, collecting outstanding in efficient ways and getting control over write-offs. Banking on our services, our clients have been able to reduce their days in accounts receivable by up to 90%. 

Our accounts receivable process begins no sooner than we receive the explanation of benefits from the insurance company. If the EOB needs to be corrected and the insurance company owes more to your practice, we follow up on the unpaid claims with timely reminders and regular calls. In the case of dues owed by patients, we follow the same process till the money owed is fully recovered. If patients find it difficult to pay the dues, we draw workable payment plans with them to facilitate the recovery of dues.   

Our medical Accounts Receivable (AR) team includes billing specialists, claims analysts, and AR managers. While billing specialists review submitted claims, claims analysts handle denials and discrepancies. AR Managers oversee the entire revenue cycle, ensuring smooth operations. We equip the team with tools such as billing software (Epic, Cerner, etc.), Electronic Health Record (EHR) systems, and Revenue Cycle Management (RCM) software to track payment status and communicate with stakeholders regularly.

Medical Accounts Receivable Metrics We Follow

Our Medical Accounts Receivable Services Process

  • Payment Posting

    We first record payments received from insurance companies and patients and update the financial records accordingly.
  • Follow-Up

    Our team regularly follows up on unpaid or denied claims ( with insurance providers), addressing outstanding issues for timely resolution.
  • Initiate Appeals

    If necessary, initiate appeals for denied claims, providing additional documentation to support the claim.
  • Patient Follow-Ups

    In case of recovery of dues from patients, we generate and send bills to patients for any remaining balances after insurance payments.
  • Collection Strategies

    If the A/R days increase, we implement effective collections strategies for outstanding patient balances, if needed.
  • Reporting and Analysis

    Our team also monitors key performance indicators, analyzes trends, and generates reports to assess the efficiency of the AR process.

Our Comprehensive Medical Accounts Receivable Services

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  • Eob Analysis
  • Follow-ups
  • Payment Posting
  • Denial Management
  • Accounts Receivable Aging Analysis
  • Patient Account Management
  • Remittance Advice
  • Write-Offs
  • Financial Reporting
  • Compliance And Regulation Adherence
  • Patient Statements And Communication
  • Aging Report Analysis
  • Medical Billing Services
  • Patient Financial Counseling Services

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Outsource Healthcare Accounts Receivable to the Expert

Improved Cash Flow

Outsourcing medical accounts receivable accelerates the billing and collections process, leading to faster reimbursement. Timely processing of claims and follow-ups ensures a steady cash flow for healthcare providers.

Reduced Administrative Burden

Externalizing accounts receivable tasks alleviates the administrative burden on in-house staff. This allows healthcare providers to focus on core functions, such as patient care and operational management.

Expertise in Billing and Coding

Specialized medical account receivable outsourcing partners employ certified medical coders and billing professionals who are well-versed in the latest coding regulations and billing practices. This expertise minimizes errors and enhances reimbursement rates.

Cost Efficiency

Outsourcing overcomes the need for in-house staff training, software investments, and infrastructure maintenance. This leads to cost savings for healthcare practices, who pay for services on a per-use or contractual basis.

Technology Integration

Outsourcing medical accounts receivable service providers leverage advanced healthcare revenue cycle management software and technologies. This ensures efficient claims processing, denial management, and adherence to industry standards, enhancing overall operational efficiency.

Step-by-step process for Medical Accounts Receivable Services
Step-by-step process for Medical Accounts Receivable Services

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Invensis- The Most Trusted Medical Accounts Receivable Company

As a distinguished leader in medical accounts receivable services, we bring over 24 years of proven expertise. We specialize in healthcare revenue management for diverse businesses, including hospitals and small practices. Our adept team of experts prioritizes payment collections and develops great strategies to recover the dues. In this way, we double up as a dependable and efficient extension of your practice’s financial operations. Our clients trust our medical accounts receivable services to navigate complex healthcare revenue challenges with precision, reliability, and a customer-centric approach.

24

Years of
Experience

10+

Industry
Verticals

5000+

Experienced
Professionals

ISO: 9001:2015 Certified Company
ISO  27001:2013 Certified Company
HIPPA-Complience

98%

Claims Processed
Accurately

90%

Reduction in
AR Aging

95%

Denial Resolution
Rate

99.5%

HIPAA Compliance
Rating

85%

Faster Revenue
Cycle

99%

Patient Payment
Collection

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What Our Customers Say

Before engaging with Invensis, our nursing personnel struggled with patient data access and communication. Invensis introduced an integrated healthcare platform to eliminate data silos and enhance patient care coordination. This solution improved information sharing and streamlined our healthcare operation.

Richard Thompson
Head of Nursing, Leading Australian Healthcare Service

We were facing significant challenges in patient record management. Invensis implemented advanced EHR systems and resolved issues with our data entry process. They helped us improve process efficiency significantly. You can trust them blindly for your healthcare support needs.

Jennifer Davis
Chief Medical Officer, UK-Based Healthcare Practice

Securing client appointments was a significant challenge for us. Lack of cutting-edge appointment scheduling tools and manual, error-prone methods often were leading to scheduling errors and delays. Invensis, helped us by implementing an advanced scheduling software and trained personnel to efficiently manage appointments. Their support enables us to offer online booking and improve patient communication.

William Jones
Director of Operations, A US-Based Leading Healthcare

What Our Customers Say

We are thrilled with the impeccable chiropractic billing services offered by Invensis. Their comprehensive knowledge of the industry, prompt claims processing, and meticulous attention to detail have immensely benefited our healthcare reimbursements. Highly commendable!

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John Davis
Leading Healthcare Company in the UK.

We are extremely pleased with the exceptional hospital billing services provided by Invensis. Their expertise and attention to detail in Medicare billing and compliance in medical billing have streamlined our revenue cycle and improved financial performance.

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Emily Johnson
Leading Hospital in the US.

Invensis has been an invaluable partner for our organization, providing exceptional ASC billing services. Their expertise and dedication have significantly improved our revenue cycle management. Highly recommended!

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Sarah Smith
Leading Healthcare Provider in Italy.

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Contact Information

You can reach us at:

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+1 (302)-261-9036
sales@invensis.net
Locate Us
Invensis Inc. 2785 Rockbrook Dr STE 204 Lewisville, TX 75067

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