Our Services

Accounts Receivable Services for Dental Practices

At ExpertsRCM, we understand that managing accounts receivable (AR) is one of the most crucial aspects of maintaining a healthy cash flow for your dental practice. Accounts receivable management ensures that payments are collected in a timely and accurate manner, reducing the risk of delayed or missed payments. However, the process can be complex, time-consuming, and prone to errors without the proper systems in place. That's where our Accounts Receivable Services come in.

Our team of experts works closely with your dental practice to streamline the entire AR process—from the moment a claim is submitted to when the final payment is collected. With our tailored solutions, we help you maximize collections, minimize write-offs, and maintain consistent cash flow, all while reducing administrative workload and improving financial transparency.

Why Accounts Receivable Management is Crucial:

Effective AR management is essential for several reasons:

• Maintaining Cash Flow: Timely collection of receivables ensures that your practice can meet its financial obligations and invest in new opportunities.
• Reducing Days in Accounts Receivable (DAR): Minimizing the time between services rendered and payment received helps improve liquidity and overall financial stability.
• Avoiding Revenue Leakage: Incorrect billing, uncollected patient balances, or claim rejections can lead to significant revenue loss. Proper AR management helps to recover every dollar owed.
• Enhancing Financial Health: By identifying issues early and addressing them, your practice can improve its financial performance, track trends, and optimize collections strategies.

Our Accounts Receivable Services:

At ExpertsRCM, we provide a comprehensive suite of Accounts Receivable Services to ensure that your dental practice’s revenue cycle runs smoothly. Here’s how we handle each step of the process:

• 1. AR Analysis and Audit:

  Before implementing any solutions, we begin by conducting a thorough analysis of your current accounts receivable. This involves:

  • Reviewing aged accounts receivable reports to identify outstanding payments and aging trends.
  • Auditing open accounts to detect claims that need attention (denied claims, underpaid claims, unbilled services, etc.).
  • Identifying bottlenecks, common issues, or areas for improvement.

  This analysis gives us insight into your current AR health and allows us to create a customized strategy to improve your collections.

• 2. Claim Follow-Up and Denial Management:

  After claims are submitted, our team takes responsibility for tracking their progress and ensuring they are paid promptly. This includes:

  • Tracking Claims: We monitor the status of claims in real time, ensuring that no claim is overlooked.
  • Denial Management: If a claim is denied or rejected, we immediately investigate the cause, make necessary corrections, and resubmit the claim. This involves communicating directly with payers to resolve issues and ensuring all required documentation is submitted to get the claim paid.
  • Appeals: If a claim denial is based on incorrect information, we handle the appeals process, ensuring that your practice receives the full reimbursement it is entitled to.
• 3. Insurance Payment Posting:

  Once insurance payments are received, we ensure they are correctly posted to the patient’s account. This includes:

  • Verification of Insurance Payments: We reconcile insurance payments with Explanation of Benefits (EOBs) or Electronic Remittance Advices (ERAs) to ensure that payments match the billed amount.
  • Posting Payments Accurately: Payments are posted to the correct accounts, ensuring accurate patient balances and financial records.
  • Handling Adjustments and Write-offs: If an insurer pays less than expected or requires an adjustment, we handle the appropriate adjustments and write-offs to ensure that the account balance is correctly updated.
• 4. Patient Balance Follow-Up and Collections:

  It’s essential to follow up with patients on any outstanding balances. We work with your practice to ensure patient balances are collected in a timely manner, including:

  • Patient Communication: We manage the process of sending patient statements, setting up payment plans, and addressing any patient inquiries regarding outstanding balances.
  • Phone Calls and Follow-Ups: Our team handles follow-up phone calls and reminders to patients with overdue balances, ensuring prompt payment collection.
  • Payment Plans: For patients with large balances, we help set up payment plans to ensure your practice gets paid while accommodating patients' financial situations.
  • Third-Party Collections: In cases where patient balances remain unpaid for extended periods, we have systems in place for engaging professional collection agencies (if needed) in compliance with healthcare regulations.
• 5. Reporting and Analytics:

  We provide detailed and customizable reports that offer insight into your accounts receivable performance. These reports can include:

  • Aged Accounts Receivable Reports: Show outstanding balances grouped by aging categories (30, 60, 90 days, etc.).
  • Collections Performance: Detailed analysis of collections efforts, including follow-up outcomes, patient payments, and write-offs.
  • Denial Analysis: Insight into the reasons for claim denials, helping you identify recurring issues that can be resolved to prevent future denials.
  • Payment Trends: Tracking payments and identifying patterns, allowing your practice to make data-driven decisions and adjust collections strategies.

  Our comprehensive reports give you a clear picture of your practice's AR status and highlight any areas requiring attention, helping you stay on top of your financial health.

• 6. Customized Solutions for Reducing AR Days (DAR):

  By analyzing trends and identifying inefficiencies in your current system, we develop tailored solutions that target specific issues and reduce your Days in Accounts Receivable (DAR). We may focus on:

  • Improving Claim Submission: Ensuring claims are submitted timely and accurately to avoid delays.
  • Accelerating Follow-Ups: Reducing the time between submission and payment, ensuring that claims are followed up within payer timelines.
  • Optimizing Patient Collections: Ensuring that patient balances are collected efficiently, reducing the time between service and payment.
• 7. Compliance and Best Practices:

  We ensure that all accounts receivable processes comply with HIPAA regulations, payer policies, and other industry standards. Our team stays up-to-date with evolving healthcare laws to ensure that your practice is not exposed to compliance risks.

Key Benefits of Our Accounts Receivable Services:

• Improved Cash Flow: We accelerate collections and reduce the time it takes for your practice to receive payments, ensuring a steady cash flow.
• Reduced Denials and Rejections: We proactively manage denials and work to correct issues promptly, ensuring that you’re reimbursed for the services you provide.
• Efficient Collections: With dedicated follow-up efforts and patient communications, we reduce the burden on your staff and ensure outstanding balances are collected.
• Reduced Administrative Burden: By outsourcing your AR management to ExpertsRCM, you can free up your in-house staff to focus on patient care and other important tasks.
• Better Financial Visibility: Our comprehensive reporting provides clear insights into your practice’s financial health, helping you make informed decisions.
• Enhanced Operational Efficiency: By streamlining AR processes and addressing issues early, we improve the overall efficiency of your practice’s revenue cycle.

Why Choose ExpertsRCM for Accounts Receivable Services?

At ExpertsRCM, we are committed to providing end-to-end revenue cycle management solutions that optimize your dental practice’s financial operations. With our experienced team of professionals and advanced technology, we ensure that your accounts receivable is managed efficiently, reducing payment delays and maximizing revenue.

Outsourcing your AR management to us helps your practice focus on delivering excellent dental care while we handle the complex task of managing and collecting outstanding payments.