Sunknowledge Excels in Accounts Receivable Management

Posted by Willam Smith on November 1st, 2018

Sunknowledge Services Inc excels in all the steps involved in the revenue cycle management of medical goods and services since 2007, which is the year of its inception. The clients include all the respective medical service providers of the United States of America, which are Nursing Homes, Pharmacies, Oncology, Dermatology, Rehabilitation, Nurse’s Care, Urgent Care, and Radiology among others. We provide end to end as well as standalone services to our clients with respect to all the individual aspects of medical billing and revenue cycle management. Accounts Receivable Management is a special step involved in the revenue recovery system, the place of which can be traced in the system as follows.

• Eligibility Authorization and  Verification
• Patient Information Entry
• Coding
• Charge Entry
• Claim Submission
• Payment Posting
• Accounts Receivable
• Denial Management
• Reporting

As evident Accounts Receivable appears as one of the penultimate steps in the revenue cycle management.  The particular client’s service profile when owes an outstanding amount from the payer becomes Accounts Receivable in the billing parlance. This amount has to be followed up by the practice management for recovery, when denied posted to Denial Management. The steps followed by Sunknowledge for Accounts Receivable Management are as follows.

• Accounts Receivable Analysis: 14% of all claims as submitted to the insurance company are denied and have to be re-submitted, appealed or written off. 50% of the denied claims are never re-filed. 50 to 70% of the denied claims have a higher recovery chance.
• Follow Up with the Payer: Regular follow up of the Accounts Receivable by the practice management with the payer company is a must to ensure its recovery.
• Closure of the claim: Once the outstanding money is recovered the claim is closed and updated in the provider’s system. If not approved the account is transferred to denial management procedure.

Sunknowledge offers Accounts Receivable service at 2% of the total collections, which makes it efficient yet competitively priced. Visit us on sunknowledge.com to know more about our services and profile management with pout clients.