MBSAP PAYMENT POSTING FOR MEDICAL BILLING

Payment posting marks the end of the billing cycle, where the payment records of every patient are recorded in the billing management software. It also spawns other processes which need continuous attention. If you want a professional company to accurately and quickly do payment posting and after-posting on your behalf, Mbsap can help.

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    READING AND ANALYZING EOB

    EOB basically consists of patients’ names, their account numbers, control numbers, service dates, procedure codes, billed/allowed/adjusted amounts, denials information, deductibles, co-insurances, co-payments if any, etc. Once you receive the EOB from the insurer our resources do not just key in the mentioned details into your billing system rather go through it carefully and analyze it to identify payment and other related patterns like the percentage of insurance receivable, frequency of inflows, denials, amount Mbsap percentage, etc., and then record it.

    ANALYSIS BASED ACTION

    Once we establish the payment receivable patterns, we immediately send out the necessary action chart to the respective billing departments to take necessary measures to increase the inflows. For instance, if there is a difference between the allowed amount and the payment amount, then balance payable amount will become the patient’s responsibility. The EOB clearly states as to why the balance need to be paid by the patient, in cases like co-payment, deductibles or co-insurance or uncovered insurance. Mbsap immediately passes out this information to the billing department which helps them to collect the outstanding receivable from the patient easily and swiftly. Read an article on 6 effective ways to collect patient balances.

    INFLOW STATEMENT

    We keep a real-time track on the outstanding amount receivable and the cash inflow status so that the rate of cash inflows can be easily accessed, and necessary actions can be taken to improve the cash flows.