Payment Processing
Payment processing in medical billing is an important step in the final success of a claim.
→ Payment Processing Overview
Many Ophthalmology practices make the mistake in trusting their software to handle this process unassisted. Although many steps to the payment posting process today are automated, we still need to thoroughly examine each remittance and verify that the payments have been correctly posted to the patient ledgers.
→ Our Management & Billing Software
At ECBC, we work with a variety of practice management/billing software programs, each one unique. With this experience, we are quickly able to recognize and resolve any payment processing errors in automated posting.
For example, if an insurance explanation of benefits (EOB) has incomplete identifying patient information (such as missing account number or other patient ID), it may reject posting of the payment requiring manual entry. This is something that is often overlooked and can contribute to an inflated accounts receivable.
→ Fixing Common Errors
There are other areas of automated payment posting that can cause errors such as “automatic” write-offs on services or procedures that may have been denied in error or services the provider may wish to dispute.
Payment processing errors such as these make the biller’s job even more important and necessary as it takes a human to review and interpret the EOB and take the necessary steps to accurately reflect the information in each account.
→ Disputing Errors On Your Behalf
Completely trusting in your billing software with automated payment posting will not bring to your attention any “underpayments” which may potentially cause losses in revenue. Underpayments are caused by underbilling for your procedures; charging insurances less than their allowable rates.
At ECBC, we dispute errors daily and communicate with insurances to ensure that our clients are receiving the maximum reimbursement for the provided services.
→ Contact ECBC To Improve Your Payment Processing
Eye Care Billing Consultants are here, ready to assist your ophthalmology practice with payment processing and posting. Let us handle your payments, so you can focus on your patients.