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MedEx MBS AR Recovery Services Optimize Revenue
MedEx MBS provides a full suite of accounts receivable (AR) management services, specializing in recovering outstanding revenue from AR accounts that are over 120 days old. Our system is highly effective in reclaiming funds from accounts previously considered lost causes.
Unlike many medical billing companies that bundle AR recovery as part of a broader revenue cycle management package, MedEx MBS offers AR medical billing recovery as a standalone service. We recognize that healthcare receivable recovery isn’t one-size-fits-all, and we are committed to tailoring our solutions to meet the specific needs of your business.
Case Study Results
1st June
Started On
1 Year
Review Period
$76,000 to $134,000
Collection Increased
66.6%
Revenue Increased By
Systematically boosting revenue through efficient claims management
MedEx MBS’s advanced system tracks each claim through to the end, ensuring our clients get the revenue they deserve.
MedEx MBS's Four-Step Approach to AR Recovery
Our approach to managing aging accounts receivable has been refined through years of experience. Our established AR recovery service offers a streamlined method that is both efficient and effective.
Systematic Evaluation
When our AR team provides account recovery solutions to a new client, our first step is to conduct a comprehensive review of each unresolved claim. While some claims may be expired or otherwise uncollectible, we identify and address every claim with potential for recovery.
We don’t focus solely on high-value claims. Unlike many medical billing companies that prioritize larger amounts, we understand that smaller claims can accumulate quickly and benefit our clients significantly. Therefore, we assess every claim that might still be eligible for payment.
Prioritization
Our team prioritizes the analysis of older unpaid claims to ensure they don’t expire before we have a chance to address them. By leveraging advanced analytical tools to manage medical account receivables, we stay ahead of payer requirements to maximize your revenue collection. We diligently follow up with each payer to recover overdue payments, allowing you to concentrate on your practice with confidence that we are safeguarding your financial interests.
Correction and Resubmission of Claims
Our dedicated team ensures that no claim is rejected, denied, or underpaid due to insufficient follow-up. Once necessary corrections or clarifications are made, we appeal each claim to prompt the insurance or government payer to reassess the payment. Additionally, we track your claim denials and rejections to identify and permanently address any recurring issues within your revenue cycle management system.
Patient Communication
When our AR team determines that the outstanding balance is the patient’s responsibility, we create a clear and easy-to-understand report for them. If you prefer, we can also manage direct communications with your patients. Unlike a collection agency, we ensure that the message conveyed is appropriate and respectful.
We’ve found that patients are more likely to settle their bills when they clearly understand the charges and agree with the amount due. Therefore, we make every effort to present the information transparently. Additionally, we can handle their phone calls and answer any questions they may have if you wish.
AR Recovery Is One of Our Areas of Expertise
A significant amount of revenue is lost each year due to improperly managed unpaid claims. Our dedicated AR recovery team excels in securing reimbursements for claims others deem “uncollectible.” It’s widely recognized in the collections industry that the likelihood of payment decreases the longer a bill remains unpaid. However, instead of abandoning old accounts receivable, our team views this as an opportunity to take swift action in identifying and investigating every unpaid claim.
Many medical AR billing services either shy away from aging accounts or charge high fees for handling them. Our streamlined system enhances efficiency, allowing us to work profitably on both old AR recoveries and low-value claims. Here are some key features of our AR recovery system.
Most claim rejections and denials stem from errors or omissions that can be easily corrected by our medical recovery services. We also identify and resolve more complex issues with a high success rate.
Many billing companies steer clear of small claims and those with a lower likelihood of recovery. However, at MedEx MBS, our efficient system enables us to reduce medical account receivables by securing reimbursement for every claim.
When we partner with you for AR recovery, we assign a dedicated team of experienced medical billers to thoroughly investigate each claim in your accounts receivable records.
Although sorting through all your unpaid claims requires significant effort on our part, there is no risk of losing money on old AR. We charge fees based solely on a small percentage of the amount recovered. If we are unable to recover payment for a claim, you owe us nothing, eliminating any risk to you.
Our highly skilled AR recovery services team consistently recovers over 90% of claims, even those dating back up to one year. This level of revenue recovery can significantly impact the financial success of any medical business.