• AR wind down services for payer and patient AR
• LRRA audit to spot deficiencies
• Preserve AR asset value
• Swift AR resolution

To bring their outstanding AR to current, Medientsky Billing conducted an extensive Lost Revenue Recovery Audit (LRRA) and made a series of recommendations in key areas to bring coding and the outstanding AR to current. The goal was clearly to define a path of recovery of their old AR and also assist in coding the pending claims that arose due to the backlog. It was mission critical to strengthen the AR foundations of the healthcare organization.

The First Steps

Once the recommendations were made, Medientsky Billing then developed a series of plans to work along with the revenue cycle team of the health system to bring the AR& coding to current. The initial step was to identify the AR that fell into the collectable bucket. This was arrived at based on various permutation and combination of parameters that considered the filing & appeal limit of insurances and correlated the same with their outstanding AR. The second step was sort the collectable work order in such a way that it addresses the immediate priority claims and makes sure that none of the claims moves into uncollectable buckets and shows immediate recovery. The third step was to review the uncollectable AR and seek a viable point of contact in the insurance and see if we can bring some recovery on the bulk claims lying with them. The third step was to review the uncollectable AR and seek a viable point of contact in the insurance and see if we can bring some recovery on the bulk claims lying with them. AR Analyzer, the proprietary AR management software built by Medientsky Billing decreases the time and costs involved in AR management. It automatically isolates high risk receivables. As the AR data is categorized according to the financial risk involved it streamlines and quickens the AR follow-up process. Our AR resolution experts worked on the key risk segments. AR Analyzer’s prescriptive work listing engine allocated work to receivables management teams based on their experience in handling similar AR issues. Through a thorough analysis of the healthcare system’s AR information, our AR resolution team was able to spot several overlooked pockets of revenue. Critical AR issues were bubbled up by the system and resolved. Our 24/7 AR follow up services enabled the healthcare organization to recover revenue lost due to inefficient and poorly monitored AR processes.