Medical Accounts Receivable Collections from Flatworld

Prompt and timely accounts receivable follow-up from Flatworld helps hospitals, clinics and medical practices in the U.S. and UK to accelerate cash flows and improve their overall collections recovery.

The healthcare industry is traditionally known to have unduly long receivable cycles. This is because of the complex processing involved in receiving final settlements from medical insurance agencies. Besides this, disputes and claims rejections are a regular occurrence further adding to the delay in collections recovery.

Do you face frequent delays in insurance settlements and end up spending more time on accounts receivable calling than on patient care? Outsourcing accounts receivable collections to Flatworld helps you to control your cash flows better, reduce overdue receivables and improve the overall financial health of your practice. We believe that follow-up and documentation of claims prior to the 60 or 90 days time limit is crucial to improving collections record.

Accounts Receivable Collection Process

Flatworld receives information about the total accounts receivable of medical practices in the U.S. and UK. This information is either uploaded to Flatworld's secure servers through FTP or stored on hospital central servers at their locations in the U.S. and UK.

Access Data: Information on accounts receivable is accessed by authorized team members from the hospital servers. The Flatworld accounts receivable collection team is competent to run online, ageing reports on old accounts receivable from client's software or to work from spreadsheets and offline client A/R reports.

Report Generation: the accounts receivable database, are classified into age-wise buckets of 'more than 30 days past due' accounts, 'more than 60 days' and '90 days and beyond'. Receivables that are within the 30 day period are current. All accounts that are 30 to 60 days past due are the primary focus of Flatworld's accounts receivable collections.

Accounts Receivable Calling: Routine accounts receivable follow-up is done by our call center agents who call up third party payers such as Medicare, Medicaid, and commercial insurance companies.

At Flatworld, accounts receivable calling kicks off from day 31. This helps to establish a reminder mechanism, ascertain claim status, push for speedier processing and collect additional information in case of denials and rejections. Calling agents may need to interact with anyone from case workers to the patients and doctors' offices.

Accounts Receivable Follow up: Agents document the call outcomes for analysis and reporting. Accounts receivable analysts look at the call logs each day and generate reports on payments and processing status. They also identify trends in payments such as consistently low payment by certain carriers, frequent denials and rejections by carriers etc.

Based on call analysis, our accounts receivable follow up team generates reports on:

• Report of payments in processing stage
• Practice analysis
• Cash flow reports
• Collection rate
• Insurance ageing and analysis
• Account receivable aging report

These reports help us to have a better idea on the accounts receivable collection status and gives insights to our team as well as to medical practices on overall cash flows and how collections are shaping up.

Flatworld's Medical Billing and Coding services, Medical Claims Processing services and Revenue Cycle Management services help medical practices to enhance revenue cycles and improve overall financial health.

Accounts Receivable Management - Flatworld's Expertise

Our team is adept at collecting accounts receivable on time. They are trained in regulations pertaining to managed care, third party liability, WC, PPO, indemnity insurers and have a complete understanding of CPT, HCPCS, ICD-9 coding Level I, II, III.

We are familiar with the current state and federal insurance regulations in the U.S. Our professional and competent accounts receivable follow-up ensures that all payments are tracked until realized and each payment is checked against the carrier's fee schedule.

Outsourcing Accounts Receivable Collection to Flatworld: Benefits

Flatworld's accounts receivable calling services address the needs of small-to-medium sized medical practices in the U.S., UK and Europe. We also undertake accounts receivable management for hospitals, clinics, outpatient services, rehab facilities, long term care facilities and acute care facilities.

Benefit from Flatworld's competent Accounts Receivable Collection services:

• Stay focused on patient care
• Shorten revenue cycles
• Reduce total over dues
• Improve collection record
• Billing for maximum allowable claim reimbursement
• Consistent and efficient revenue streams
• Improve cash flows
• Maintain overall financial health of practice

Entrust your Accounts Receivable Management to Flatworld

Flatworld's accounts receivable collection service saves healthcare providers valuable practice time. Medical practices that outsource their accounts receivable management to Flatworld get to build up their core competencies. We take care of their collections worries while they stay focused on patient care.

Outsource to Flatworld for professional and accurate Medical Billing and Coding services and Medical Claims Processing services.

Contact us for your comprehensive Accounts Receivable Collection needs.