How to Implement Sound Measures in Hospital Accounts Receivable

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Hospital Accounts Receivable
Hospital Accounts Receivable

It is true that staffing shortage with healthcare has extended further than just clinical healthcare. Billing specialists and registrars are high in demand according to a survey on 411 hospitals, CFO’s and leaders in revenue cycle management.

The survey was published on March 17th and was commissioned by the operations provider AKASA which fielded it from Dec 1 2021 to Dec 21, 2021. Here is a ranking of the highest roles that needs to be filled with finance leaders telling that they need more talent in the role.

The details of the ranking is as follows: Billing Specialists (54.7%), Registrars (59.6%), Patient follow up (42.4%), Front office staff (38.7%), Denial Specialists (37.1%), Authorization staffs (36.1%), Claims collections (35.2%), Collections (34.4%). It is evident that as a hospital making sure that you are in place with your accounts receivable should be the idea ahead.

Why choose Sunknowledge as your collections partner

At these testing times, with healthcare providers looking to make their presence felt in the competitive landscape, Sunknowledge is here to offer you a promising business synergy. Over the last decade, we have emerged as a dynamic hospital accounts receivable services company in healthcare and work with both payer and provider side of the healthcare business.

Our team is experienced in delivering Accounts receivable and Collections related support for hospitals, skilled nursing home facilities and long term care centers. The activities involves reaching out to the payers regarding the status of the submitted claims, denial follow-ups and working our underpayments and appeals.

We have a comprehensive understanding of the claims form (UB-04) and know how to bill clean claims. Our team has the versatility and knowledge of pursuing claims with different payers. In fact, we know it all with guidelines followed by different payers for authorization, timely filing process, case rates, per diem rates, DRG etc.

At 1% of collections, Sunknowledge ensures:

  • Handling of your accounts receivable by highly experienced staff
  • Expertise in working on difficult-to-recover aging A/R
  • Attention to every cash amount regardless of its size
  • Experience in claims adjudication serving major insurance plans
  • Increase in collections by 30 to 40%
  • Reduce your operational costs by 80%

Speak to our experts and come to know why we are hailed as one of the best in the world of hospital accounts receivable management. Our experts will love to share our ideas of a business partnership with you. Come to know what makes us consistent in the world of healthcare revenue cycle management.