Patient Collections without Hurting Patient Experience: Practical Billing Tips
Collection from patients is becoming increasingly difficult as patients are having to pay a larger percentage of healthcare costs themselves. In the United States, patients account for about 30% of healthcare provider revenues, while high-deductible health care policies have resulted in higher patient out-of-pocket costs. Providers, therefore, are experiencing an increase in patient collections accounts […]
How to Read an A/R Aging Report: A Complete Guide to Aging Buckets
The A/R Aging Report is a financial tool which classifies outstanding insurance claims and patient balances based on how long they have been outstanding, usually classified in terms of 30, 60, 90 and 120 days of aging. Healthcare facilities pay attention to this report since delays may affect cash flow and result in the increase […]
What does AR in medical billing mean and how does it impact my practice revenue?
Accounts Receivable (AR) in medical billing refers to the unpaid balances owed to the practice for previously delivered medical services. Every medical practice relies on stable cash flow, yet many payments remain pending long after services are delivered. Accounts receivable represents payments your healthcare practice has earned but not yet received. Professional healthcare accounts receivable […]
