Reducing AR Days in Healthcare

Medical Billers and Coders Reducing AR Days in Healthcare

Streamlined revenue cycle operations ensure the financial stability and growth of your practice. When the healthcare revenue cycle is not managed well, collection efficiency drops, and accounts receivable (AR) days increase. Accounts receivable is at the heart of revenue cycle management, as you get paid faster which results in healthier operations. Streamlining the healthcare revenue cycle involves ensuring collection efficiency and monitoring AR days. With a well-managed revenue cycle, revenue comes in faster, with less effort. Everyone has a role, from physicians, nurses, and other clinicians to medical billing and coding team to front office staff.

Here are basic ways which would help in increasing collecting and reducing AR days. • Clean Claim Submission • Set AR Goal • Track Denials • Target Major Payers

To Summarize, The Following Steps Will Help in Reducing AR Days: • Determine goals in terms of AR days. The ideal number of AR days varies depending on the type of facility and its specific mix of payers. • Work toward timely, accurate documentation by ensuring timely and accurate documentation for coding and billing cases and adequate revenue cycle staffing. • Set clean claim submission goal. Set a goal of getting clean claims out within 48 hours of receipt of the required documentation. • Have a denial management team that includes experts from billing, coding, AR team and providers should assist wherever required. • Ensure you have processes in place for tracking denials and that your personnel understand how denials are to be handled to minimize time to payment. • Educate personnel on payer-specific policies to ensure that your personnel has access to training on requirements for Medicare, Medicaid, and major private insurers.

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Reducing AR Days in Healthcare