There is a general tendency among practice administrators to focus more on coding and documentation while considering payment posting as something secondary. Having received the payment means having completed the hard part for them. But payment posting is one of the important steps in the process of medical billing.
Significance of Payment Posting
Perfect payment posting is in fact one of the most vital functions in a medical practice’s revenue cycle management and thus, influences overall profitability. Accurate payment posting helps address claims denial, if any.
Advantages of Payment Posting in Medical Billing
A few of the key benefits of accurate payment posting are given below:
- Payment posting enables analysis of the practice’s revenue cycle, thus assisting in increasing practice profitability
- Recurring problems within the revenue cycle can be solved
- Payment posting helps reduce denial resolution time
- The current processes in the medical practice can be strengthened
- Perfect claims submission to secondary payers is made possible
Outsourcing Medical Billing Payment Posting to Rapid Care
Accurate payment posting can be achieved by delegating the task to reliable third-party service providers. Rapid Care has been providing efficient revenue cycle management services to health care facilities since more than a decade.
The following are a few of the exclusive features in payment posting services from Rapid Care:
- Our payment posting solutions enable practices to achieve overall efficiency
- Denial rate is reduced considerably
- Access to a team of expert medical billing professionals
- HIPAA compliance
- Issues with window collections can be spotted
- Reworking and timely resubmission of denials is ensured
- Write-offs and adjustments can be processed
Payment posting done well leads to improved cash flow and better overall collections. Patients will receive accurate and prompt statements.
Rapid Care has been offering comprehensive medical billing solutions to medical practices of all sizes. We take care of not only the payment posting but also the other critical steps preceding and following it.
By partnering with Rapid Care, your practice gets the services of a reliable health care technology professional who will expedite your medical billing process and lead you toward the path of profitability. Visit our website www.rapidcare.net for more details.