Pricing is a critical factor to consider before outsourcing. Our pricing model allows you to keep your costs in control.
Hospitals, physician's practices and billing companies all face the challenge of long receivable cycles due to the tedious process involved in receiving payments from insurance companies. Disputes and claims rejections further aggravate the recovery process. Flatworld Solutions enables you to speed up the recovery of your receivables and improve the efficiency of your overall accounts receivable process.
This allows you to focus on providing Quality Patient Care without having to worry about cash flow to run your practice. Follow-up and documentation of claims prior to the 60- or 90-day time limit is crucial to improving the collection record and reducing overdue receivables.
Flatworld Solutions can handle the entire revenue cycle management (or any part thereof) for hospitals, physician groups, or billing companies.
The process comprises of the following steps:
Flatworld receives the accounts receivable data through the client's EMR or billing system, or via upload to our secure servers through FTP. Our Accounts Receivable team then accesses, reviews and analyzes this data.
The accounts receivables are sorted into age-wise buckets, such of Current, 30, 60 and 90 days. The current receivables are those that fall within the next 30 days.
The accounts receivable follow-up process is carried out by the dedicated AR team, which calls up 3rd-party payers such as Medicare, Medicaid and commercial insurance companies. Proactive follow-ups aid in determining claim status. We also follow up with you for additional information or documentation required in case of denials and rejections.
Call outcomes are documented and analyzed to generate receivables trends such as consistently low payments by certain carriers, frequent denials and rejections by carriers, and so on. The follow-up team also generates the following reports:
Flatworld has expertise in the timely collection of accounts receivable. We have worked with several customers and understand the common reasons for the denial of claims. We can also review ICD and CPT codes to ensure that the correct codes are applied. With our services, you can save valuable time and focus on patient care and growing your business. We ensure that all your payments are tracked until realization, and each payment is checked against the carrier's fee schedule.
Contact us for comprehensive Accounts Receivable Collection services.