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Payment Posting

PAYMENT POSTING: AN ESSENTIAL STEP OF THE MEDICAL BILLING PROCESS
Payment posting has a vital role in revenue cycle management for a healthcare organization. The process of payment positing has several essential steps such as posting, deposit functions and reconciling posting activities. Therefore, payment posting has a huge influence on managing your finance and hence it isn’t a point to be overlooked.
Payment posting gives a clear outline of your revenue stream and helps you catch errors faster. In addition, this helps to rectify the errors. Through this, you can see daily EOBs insurance payments and ERAs insurance checks, patient payments, etc., giving you a clear insight into your day-to-day finances.
IMPORTANCE OF ACCURATE PAYMENT POSTING
It is essential to have an accurate payment posting process as it directly affects your revenue cycle. Hence keeping a close eye on it in the initial stage itself will save lots of time and effort while increasing the efficiency of your revenue cycle. We have a well-dedicated team that will ensure the smooth functioning of the process.

An efficient payment posting would bring you several benefits like:

  • Opportunities to increase your revenue by monitoring your practices
  • Giving a clear insight into your incoming payments to know your profits
  • Smoothens your billing process and payment collection
WAYS OF PAYMENT POSTING
We help providers in posting the payments and ensure that it is executed effectively.
CHECK OUT WAYS OF PAYMENT POSTING THAT WILL HELP YOU OPTIMIZE YOUR REVENUE:
  • EOB and ERA posting and reconcilement: We Ensure that the posting is done in proper intervals, and during the reconcilement process, the EOB and ERA data match payments.
  • Handling claims denial: We assure that immediate actions must be taken on the denied claims keeping a standard TAT of 48 Hours.
  • Patient responsibility: Updating the patient’s responsibility fastens the patient billing process.
  • Write-offs and adjustments: Report any unusual contractual adjustments while processing payment after cross-checking with write-offs and adjustments.
WRITE-OFF
We make sure that the staff is responsible for posting using specific write-off codes. Maintain a quarterly auditing process to reduce the chances of embezzlement. Always verify the accuracy of each refund request before it is issued.

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