At Invensis, we understand the importance of accurate and efficient payment posting for healthcare practices. Payment posting is a crucial step in the healthcare billing process. It involves entering payment information from various sources, such as insurance companies and patients, into a practice's financial management system.
Accurate and efficient payment posting is essential for ensuring that a practice can effectively manage its finances and maintain a healthy cash flow. Our experienced billing and coding team is dedicated to accurately and securely entering payment information into your financial management system.
Our Payment Posting Services Include
• Verifying and entering insurance payments
• Handling patient payment plans and installment payments
• Processing credit card and electronic payments
• Resolving billing and payment discrepancies
• Reconciling payment batches and preparing reports for review
• Providing customer service for payment-related inquiries
- Patient Payments
We receive information on point-of-service payments made by patients via cash, check, or credit card, and we review this information to adjust each patient account accordingly. These payments can be for co-pays, deductibles, or non-covered services.
- Insurance Posting Services
This includes processing Electronic Remittance Advisories (ERAs) that we receive in high volume from payers. We import these ERAs into our clients' practice management systems and correct any exceptions, while verifying batch totals. We also offer manual posting services, where we receive scanned Explanation of Benefits (EOBs) from our clients and process them in line with the client's business rules for adjustments, write-offs, and balance transfers to secondary insurance companies or patients.
- Handling Claim Denials
We record each claim denial in the practice management system and take action to re-bill to the secondary insurance company, transfer the balance to the patient, write-off the amount, or send the claim for reprocessing. We have expertise in understanding payer-specific denial codes and ANSI standard denial codes. We use this knowledge to ensure that our clients' claims are processed accurately and efficiently.
In addition to our payment posting services, we also offer specialized support to enhance the effectiveness of your revenue cycle management (RCM) process. Our team can provide detailed analysis of Explanation of Benefits (EOBs) and assist with tasks based on EOB analysis to optimize your RCM cycle and increase revenue. We can also track cash inflow to ensure your practice runs smoothly and efficiently.
Don't let payment posting hold you back. Let Invensis handle it for you. Contact us today to learn more about how we can support your practice with our payment posting services.