An accurate and efficient payment posting process is indispensable for any healthcare entity.The impact of accurate posting is immense as it reflects the overall picture of your practice’s revenue health.
Prevents Recurring Problems
Better Cash Flow
Reconcile Payments
Identifies Payment Trends
Data is gathered from the deposit form, which indicates your payments from the carrier along with the payment supporting documents like Electronic Fund Transfers, Checks, or Virtual Credit Cards.
The payment information is verified with the attached EOB. If the paid amount matches then payments will be posted to the respective claims as per the EOB and accounts balanced, otherwise the practice will be notified.
Practice is notified about the status of the deposit once the payment is posted. A confirmation mail is sent to the practice with a summary that ensures all the transactional records are consistent and up-to-date.
Ishtiaq Rouf, GP, Perio
Owner, West Annapolis Family Dentistry
Extremely happy with CareRevenue
"I cannot speak highly enough of CareRevenue. The solution brought a lot of discipline into my practice and I no longer have to call insurance from my office, and that's been a source of joy for my staff. There was a point where my day sale outstanding used to be over 140 days. The CareRevenue team has been able to cut that by half and now we're on track to cut it by another half."
Our prompt and comprehensive Eligibility & Benefits Verification service let's you make informed decisions so that you can make the most out of your revenue cycle!
Posting and reconciling data from EOBs and ERAs, ensuring deposits match payment totals.
Perform all transactions like write-offs and adjustments as per your standards.
Move correct balances to patient responsibility for prompt patient billing
Identifying claims with secondary payors and processing claims for any remaining balances.
Analyze denial patterns and give inputs to eliminate repetitive errors in the billing cycle.
Access to bank statements ensures that all your payments are processed without any misses.