Find Unclaimed Monies with These 3 AR Reports
If your practice has been effected by the Coronavirus, you probably are searching for ways to keep monies coming in while seeing less patients. Read on to learn more about the reports and processes you can use to keep your ledgers clean and ensure maximum collections.
Once you send a claim out the door, you expect (and hope) that the payers will process your claim quickly and submit your reimbursement promptly. Since that isn’t always the case, it’s important to have a standard process in place so that you can efficiently locate unpaid claims and take the appropriate steps to follow up on them. These reports will help.
Aged Outstanding Claims
This report helps you stay on top of those claims that have not been paid so that you can effectively follow up with the payers. You can easily filter by Case Type or Provider, and the report will show every outstanding line item for every patient within your selected date range. The report display includes the patient information customarily required when following up on unpaid claims, as well as the contact information for the payer so that you can work the report without navigating through patient accounts or looking up payer phone numbers.
Aged Patient Receivables
In addition to following up on your insurance receivables, it’s equally important to follow-up on your outstanding patient balances. Though the insurance payers may be responsible for the lion’s share of your income, the smaller patient responsibilities add up quickly. It’s important not to let patient balances get out of hand, as this can cause many patients to withdraw from care.
This report is aged similarly to an insurance aging report and displays the aged balances as well as the date and amount of the patient’s last payment.
To-Sec or Disputed Charges NOT Waiting to be Billed
If all goes according to plan, once you receive an EOB/ERA for a date of service, the claim cycle is complete for that service date. Unfortunately, things can be a little more complicated – the presence of a secondary payer, a claim production error, insurance under or overpayment, and takebacks or reallocation of funds can throw a kink in the works. Anytime you use the “To-Sec” or “Dispute” fields when posting insurance payments and you don’t immediately act on the issue, this report serves as your safety net.
This report indicates whether each line item has funds tied up that can be resolved through a secondary claim submission or if you must take action on a disputed reimbursement. Time spent working this report will ensure you get paid all the funds you’re entitled to!
Bonus Tip: The ChiroTouch Reports Manager
Many offices access reports from the Front Desk application, but there is a more efficient and user-friendly option on the Launcher – the Reports Manager. From the reports manager, you can browse reports by category, use the search function, view multiple reports with tabbed viewing, and even choose your favorites! Once you know which reports you’ll use regularly, click the heart icon to select your favorites so you can access them quickly without searching.
ChiroTouch provides this information with the understanding that authors or speakers are not experts in finance, regulatory policy or law. ChiroTouch shares this information to the best of our knowledge and experience. The information is subject to change as the COVID-19 crisis evolves.