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Improve Your Practice’s Accounts Receivable in Florida
Improve Your Practice’s Accounts Receivable in Florida
Neglecting unpaid balances can have dire consequences for healthcare businesses. They could end up seeing an accumulation of unpaid accounts, which could hurt cash flow and consequently affect your services. An accounts receivable follow-up strategy is necessary to improve revenue collections and maintain healthy cash flow. Without effective accounts receivable in Florida, unpaid balances can accumulate to the point of becoming bad debt and require write-offs.
What are Accounts Receivable?
Accounts receivables in Florida refer to the amounts of money that medical practices are still owed, whether by patients or insurance companies. A key aspect of tracking AR is to take note of how long the debt has been outstanding, broken down into the four categories of 1-30 days, 31 to 60 days, 61 to 90 days, and 91 to 120 days. Depending on which AR aging bucket the money is owed under, different strategies will be used to follow up and recover the money. AR is vital for the success and profitability of any medical practice, so investing in a reliable and efficient system for managing accounts receivable is a smart decision.
Why Choose Us for Accounts Receivable in Florida?
Are you feeling overwhelmed with managing and collecting accounts receivable in Florida? PracticeForces can make it easier for you. We can streamline accounts receivable management in Florida and secure the financial health of your medical practice while also saving you time and money. Our results-driven AR follow-up services can generate faster payments across your medical practice’s accounts receivables portfolio.
- Set up proper procedures for a follow-up to minimize outstanding and increase the aging portfolio collection rate.
- Develop management strategies for tracking aged AR balances and improving collections.
- Managing a variety of written and verbal communication for prompt accounts receivables collection.
- Tracking denied claims and establishing follow-up to correct denials.
- Segregate AR balances into collectible and non-collectible accounts.
- Identify and resolve medical billing issues, such as rejected or denied claims or incorrect payments.
- Review and implement adjustments, if necessary.
- Identify and resubmit any underpaid claims according to the contracted rate.
- Provide recommendations based on industry best practices.
For over two decades, PracticeForces has proudly been a premier provider of medical billing accounts receivable in Florida. Let us help you construct a reliable and expedient strategy for managing accounts receivable so that you can focus on what’s really important – taking care of your patients. Partner with us today!
