Managing Your Account Receivable

MTBC’s medical billing service provides you unprecedented oversight and analysis of your practice’s outstanding balance. With MTBC’s online practice management system you have real-time updates of all unpaid patient and payer balances. Additionally, we provide you the tools to analyze the A/R by specific insurance, patient balances, and time frame.

More than just 30-60-90

Traditional A/R analysis is conducted by sorting each outstanding balance into specific buckets of time: 30, 60, 90, 120, 120+ days. Although this limited scope of analysis does provide some data on the success of your billing, it does not paint the complete picture of your practices financial health.

Typical billing companies only work the outstanding claims when they move through these buckets. MTBC’s follow-up policy is set according to the payment patterns of individual insurance companies. If we know that Insurance USA usually pays a claim 12 days after submission, we follow-up on those claims on the 15th day. We build these rules into our proprietary billing software to ensure that claims do not languish with the payers and do not simply move through the 30, 60, 90 cycle without action.

Reducing Days in A/R

Medical practices search out a billing company when there is an understanding that the current billing setup is not achieving positive results. MTBC’s service reduces a practice’s average days in A/R, improves payment forecasts, and increases collections by shining a light on a portion of the practice that typically lives in the dark—the medical billing.

By applying A/R management tools and understanding payer payment patterns, MTBC is able to reduce your practice’s average days in A/R. In fact, each time you log into the online practice management system, you are presented with an updated pie-chart of the entire practice A/R. This tool provides a quick bird’s eye view of the practice’s financial health.