Payment Posting
Efficient Posting.
Streamlined Account.
We ensure prompt and accurate payment posting within 48 hours, enabling a first-pass collection ratio with our cutting-edge payment posting solutions.
GLOSSARY
Payment Posting
Payment Posting is the process of efficiently logging the payments received from patients and payers in the practice management system (billing software). It provides us with the financial picture of the group practice. The payments are received through multiple modes- EFT, paper checks, and virtual credit cards.
Our EDGE
Experience. Expertise. Execution.
Trend analysis of significant denials, including non-covered services, authorization, and patient responsibilities.
Policy definition for write-offs and reporting of unusual contractual adjustments.
Routing of denied claims to denial management for necessary actions.
Billing to secondary/tertiary payers for remaining claim balances after primary insurance payments.
Detailed reports and analysis for client-specific requirements.
Sharing of dashboards for process health indicators and continuous improvement.
WHY HOM
Improve procedural efficiency.
Efficient ERA and EOB Posting
HOM’s expertise in accurate ERA and EOB posting, with efficient processing of payment details, identification of denials, and reconciliation of discrepancies optimizes revenue recognition and expedite reimbursement. This ensures precise financial records and streamlined revenue cycle processes.
Claim Management
Our team efficiently handles underpaid and overpaid claims through thorough reviews to identify discrepancies and negotiate with payers to rectify payment amounts, resulting in accurate reimbursement for healthcare services.
HOM’s expertise in accurate ERA and EOB posting, with efficient processing of payment details, identification of denials, and reconciliation of discrepancies optimizes revenue recognition and expedite reimbursement. This ensures precise financial records and streamlined revenue cycle processes.
Our team efficiently handles underpaid and overpaid claims through thorough reviews to identify discrepancies and negotiate with payers to rectify payment amounts, resulting in accurate reimbursement for healthcare services.
OUR SERVICES
Enable seamless operations
Electronic Remittance Advise (ERA) Posting
It involves loading the electronic batch into the practice management system and processing through the set functionality in the software.
Explanation of Benefits (EOB) Posting
Payment information extracted from scanned images of EOB documents is recorded and posted to the respective patient accounts for each line item. Business rules are developed to increase the efficiency and accuracy of payment posting, including adjustments, payments corresponding to CPT and dx codes, making write-offs, and balance transfers.
Denial Posting
In the payment posting process, two crucial elements, EOB and ERA, undergo thorough review and analysis based on various payer’s ANSI denial and revenue codes. Denials are recorded in the practice management system, and appropriate actions are taken, such as forwarding the claim to the denial management team, billing secondary/tertiary payers, making write-offs, and initiating patient billing as required.
Patient Payment Posting
The payments received from the patient should be accounted for to close claims and avoid any inflated/unaccounted AR appropriately. The patient’s payment posts are collected and received through different means like checks, credit cards, cash, and patient payment portals.
Process
The process of Payment Posting after claims are processed and submitted
Payment posting within
48 hrs
Improved first-pass
collection ratio
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