BeeMedex provides comprehensive revenue cycle management services for medical offices, hospitals, specialty centers, imaging facilities, and laboratories nationwide. We handle time-consuming administrative tasks such as appointment scheduling, eligibility verification, and complaint resolution, ensuring smooth operations.
Accounts Receivable (AR) Management in medical billing refers to the process of tracking and recovering unpaid medical bills owed to healthcare providers. These outstanding payments can be the responsibility of either the patient or their insurance provider.
Effective AR management is crucial, as delayed payments increase the risk of revenue loss. The AR cycle begins when a provider bills for services and categorizes unpaid claims based on aging periods:
1-30 Days
31-60 Days
61-90 Days
91-120 Days
120+ Days
Without timely reimbursement, cash flow disruptions can occur, leading to financial strain on healthcare providers. Proper AR management ensures steady revenue, minimizes financial setbacks, and enhances the overall financial health of medical practices.
Healthcare providers across the United States are facing significant financial challenges, with many hospitals operating at negative profit margins and falling millions below their revenue targets. Rural hospitals, in particular, are experiencing record closures since 2010.
A survey by Fibroblast found that 35% of healthcare executives reported revenue losses of 15% or more due to revenue leakage in 2017. Even more concerning, 25% of respondents were unaware of the extent of their revenue losses.
Addressing these financial risks is crucial. BeeMedex provides expert medical billing solutions to prevent revenue leakage, optimize reimbursements, and ensure financial stability for healthcare providers.
BeeMedex provides expert medical billing and coding solutions, helping healthcare providers maximize revenue, ensure compliance, and streamline operations.
5900 Balconies Drive #17850 Austin, TX 78731, USA
+800 123-456-7890
info@beemedex.com
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