Accounts receivable means all the business’s money which is kept outstanding or in the invoice box is owed by your business. MAny a times it is noticed that that the companies do not pay attention to your terms of payment and do not pay it on time and your accounting team has to spend more time chasing and asking the payers for money and this is the reason that many small companies choose to outsource the job of accounts receivable collection.
Accounts receivable management written by the third party service providers so as to handle the entire accounting process of receiving and collection of debt for the business.
There are 2 types of accounts receivable management services, they are :
- Skip-Tracing : Sometimes there are cases where the relationship between the business and the customers breakdown and the line of communication disappears and it’s really difficult to find the customer so as to ask them for the payment and so and this situation, skip-tracing is a process that will help you to track down these customers so that you can collect your unpaid payment.
- Third-Party Management : In this process you hire somebody else to do your account receivable job, mostly they are known as third party service providers for outsourcing service providers who help you to manage everything related to the receivable job for the account so that you don’t waste time in this process.
However it is not wrong to outsource your account receivable job to any third party vendor but there is a slight problem that it is not an easy job and so one Outsourcing accounts receivable management services there is a chance that your company’s reputation is at risk and so some companies do not prefer Outsourcing it and to keep in house process to save their brands reputation.
What Is Denial Management ?
The process of Investigating each and every denial, analysing all the denials so as to uncover a trend by the insurance carriers and performing the root cause of by that particu in
Types Of Claim Denials :
There are different types of claim denials, They are :
- Soft denial : it is a short term denial that may be paid if corrective action is taken and in this no appeal is required.
- Hard denial : it is a type of denial which finally results in lost revenue. In this, an appeal is required.
- Preventable denial : it is the type that is caused because of the registration inaccuracies or insurance ineligibility.
- Clinical Denial : It is another type of hard denial, it occurs when there is a lack of payment for the medical necessity; appeal is required in this type of denial.
- Administrative Denial : It is a type of soft denial where the pair notifies the physician that what is the reason that the claim was denied, in this an appeal can be made.
Now, if you have understood how this process is important for the Healthcare organisations as well as the patients a reputed service provider as recommended and so we have a head pick some of the service providers would help you with your account receivable and denial Management Services.
Service Providers :
Vee Technologies :
It is a reputed service provider working in the field of account receivable as well as denial management. It has been in this field for many years and has worked with many different clients. It provides Great Value to all its clients and believes in efficiency it provides actionable Insight for better work. It is a great service provider working to provide best value for all its clients. It provides all the services that are mentioned above.
To get more information about their services, click on :
E-care India :
It is also a very reputed service provider working in the field of accounts receivable and denial management, it has been in this field for many years and has served a lot of clients. Their goal is to recover the funds that are owed to the client as soon as possible. They work with accuracy and precision by submitting error-free claims, proper analysis of the claims that are being denied and regular checkups with insurance companies as well as with the patients for the outstanding dues and claims.
To know more about them, click on :
It is also a very trusted service provider with a unique approach that is specially based on the physician developed policies as well as training programs that provide coding solutions as well as account receivable and denial Management Services. It has worked with thousands of clients and provided them grid services with the professionals and have great rating on the website and if you want to know more about them then just click on the link that is given below :
PPM Services :
It is also one of the most trusted and reliable service providers who does the job of everything that is related to the accounts receivable as well as demand management like filing of appeals, accessing insurance low pays, updating insurance contract, managing refunds and patient statement processing. It provides Great Value to all its clients and believes in efficiency it provides actionable Insight for better work. It is a great service provider working to provide best value for all its clients.
To know more about them, click on :
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Something About Ourselves :
24×7 offshoring is an IT, data, and business process outsourcing firm situated in Delhi, India. 24x7offshoring is the one-stop solution for multinational organizations all over the world, with experience in over 100 media to large-scale projects across five continents.
Dr. Teja is the company’s co-founder, and also the CEO in charge. He has a lot of expertise in managing, coordinating, and delivering high-profile initiatives. We are confident in world-class project management and delivery across domains because of the network of experts and clients we have developed over the previous three years.
Our motto is “Our network is our net worth.” Our long-term relationships with all of our clients have aided our 300 percent year-over-year growth.