Our Services

Payment Posting Services

At ExpertsRCM, we understand that accurate payment posting is a critical component of your practice’s revenue cycle management. Payment posting involves the detailed process of applying payments from insurance companies, patients, and other payers to the corresponding patient accounts. Ensuring this is done accurately and in a timely manner is crucial for maintaining proper financial records, optimizing cash flow, and minimizing revenue leakage.

Our Payment Posting Services are designed to streamline the posting process, reduce errors, and ensure that every payment is correctly applied, so you can focus on providing quality care while we handle your financial operations. With our expertise, we guarantee that your practice's payments are posted accurately, quickly, and in compliance with industry standards.

Why Payment Posting is Important:

Payment posting ensures that every payment made by insurance companies or patients is correctly recorded in your practice’s accounting system. Properly posted payments help you:

• Maintain Accurate Financial Records: Incorrect posting of payments can lead to discrepancies in your practice’s financial statements, making it harder to track revenue and expenses.
• Enhance Cash Flow Management: Accurate payment posting ensures that payments are applied promptly and correctly, allowing you to maintain consistent cash flow.
• Identify Underpayments or Overpayments: Payment posting helps detect discrepancies between what insurance companies have paid and what was expected. This enables you to take prompt action on underpayments or overpayments.
• Reduce Errors and Denials: Correct payment posting can highlight errors early, allowing your team to rectify issues before they become larger problems that could delay or deny future payments.

Our Payment Posting Services:

We offer comprehensive payment posting services that encompass the entire payment cycle—from receiving the payment to accurately posting it to the appropriate patient or account. Here’s how our payment posting services work.

• 1. Insurance Payment Posting:

  We manage insurance payment posting by ensuring that the correct amount is applied to the patient's account according to the Explanation of Benefits (EOB) or Electronic Remittance Advice (ERA) provided by the insurer. This includes:

  • Applying payments based on the insurance provider’s EOB or ERA
  • Reviewing insurance payments to identify any discrepancies (underpayments, denials, or adjustments)
  • Correctly posting patient responsibility amounts, such as co-pays, deductibles, or co-insurance
  • Reconciling payments with the corresponding charges to ensure accuracy
• 2. Patient Payment Posting:

  Patient payments are often made through a variety of methods (checks, credit cards, or electronic payments). We ensure that each payment is posted accurately to the appropriate patient’s account, including:

  • Applying co-pays, deductibles, and patient portion balances
  • Posting payments for services rendered, based on patient payment history and statements
  • Handling patient payments made at the time of service, over the phone, or via online portals
  • Identifying and resolving any patient payment issues (e.g., missed payments, discrepancies, or billing inquiries)
• 3. Payment Reconciliation:

  We perform a comprehensive reconciliation of all payments received to ensure that they match your expected amounts. This process includes:

  • Comparing payments received with insurance payment remittances (EOBs/ERAs) and patient invoices
  • Identifying and correcting any discrepancies in payment amounts
  • Reconciliation of write-offs, adjustments, and any other financial discrepancies
  • Ensuring that all payments are appropriately matched to the correct patient, account, and service provided
• 4. Payment Adjustment and Write-offs:

  In cases where insurance companies or patients underpay or overpay, we handle the necessary adjustments. Our team will:

  • Review payment discrepancies, denials, and partial payments
  • Apply appropriate adjustments to the patient account, in line with insurance agreements or patient payment terms
  • Record write-offs for any uncollectible amounts, such as unpaid balances due to insurance payment rejections or patient defaults
• 5. Posting of Refunds:

  When overpayments are made, either by insurance companies or patients, we handle the refund process by:

  • Identifying overpaid claims or patient accounts
  • Ensuring refunds are processed in compliance with payer guidelines and patient agreements
  • Ensuring refunds are documented and correctly reflected in your financial system
• 6. Detailed Reporting:

  We provide regular, detailed reports on payment posting activities. These reports include:

  • Payment status for all claims, including denials, partial payments, and adjustments
  • Breakdown of insurance and patient payments
  • Payment discrepancies, underpayments, and write-offs
  • Reconciliation summary and payment processing metrics

These insights help you track your practice’s financial performance and identify areas that may need attention, such as unpaid claims, errors, or underpayment trends.

• 7. Timely Payment Posting:

  We understand the importance of timely posting in maintaining efficient cash flow. Our team is committed to posting payments as soon as they are received, ensuring:

  • Faster and more accurate tracking of account balances
  • More efficient follow-ups on outstanding payments
  • Reduced days in accounts receivable

Key Benefits of Our Payment Posting Services:

• Increased Accuracy: With our expert team handling payment posting, you can rest assured that payments are accurately applied to the correct accounts, reducing the risk of posting errors.
• Improved Cash Flow: Timely and accurate payment posting ensures that your practice’s cash flow remains steady, helping you manage your financial obligations and investments.
• Reduced Denials and Discrepancies: Identifying and resolving discrepancies during the payment posting process ensures that underpayments, denials, and other payment issues are addressed promptly.
• Less Administrative Burden: Outsourcing payment posting to us frees up your staff to focus on other essential tasks, reducing administrative workload and increasing practice efficiency.
• Detailed Financial Insights: Our detailed reporting helps you track revenue, identify payment trends, and address issues that may be affecting your practice’s bottom line.
• Compliance with Payer Requirements: We ensure that all payment posting processes are in compliance with insurance and healthcare payer guidelines, reducing the risk of compliance issues

Why Choose ExpertsRCM for Payment Posting?

At ExpertsRCM, we specialize in end-to-end revenue cycle management, and our payment posting services are designed to optimize your practice’s financial operations. With our team of experienced billing professionals and advanced technology, we ensure that your payments are posted quickly, accurately, and in full compliance with industry standards.

By outsourcing your payment posting to ExpertsRCM, you can:

• Improve financial accuracy and reduce errors
• Free up staff to focus on patient care and other important activities
• Optimize your practice’s cash flow and reduce revenue cycle inefficiencies