Payment Posting
Medenar Healthcare is a well-known supplier of healthcare services and medical billing.
Reading and Analysing EOB
EOB basically consists of patients’ names, their account numbers, control numbers, service dates, procedure codes, billed/allowed/adjusted amounts, denials information, deductibles, co-insurances, co-payments if any, etc. Once you receive the EOB from the insurer our resources do not just key in the mentioned details into your billing system rather go through it carefully and analyze it to identify payment and other related patterns like the percentage of insurance receivable, frequency of inflows, denials, amount outstanding percentage, etc., and then record it.
Analysis Based Action
Once we establish the payment receivable patterns, we immediately send out the necessary action chart to the respective billing departments to take necessary measures to increase the inflows. For instance, if there is a difference between the allowed amount and the payment amount, then balance payable amount will become the patient’s responsibility. The EOB clearly states as to why the balance need to be paid by the patient, in cases like co-payment, deductibles or co-insurance or uncovered insurance. O2I immediately passes out this information to the billing department which helps them to collect the outstanding receivable from the patient easily and swiftly.
Inflow Statement
We keep a real-time track on the outstanding amount receivable and the cash inflow status so that the rate of cash inflows can be easily accessed, and necessary actions can be taken to improve the cash flows.