Medical Billing
The purpose of a claim preparation clause is to indemnify a policyholder in relation to reasonable costs it incurs in preparing and presenting a claim. The clause effectively provides funds to enable a policyholder to engage an expert. Usually, the claim preparation clause is found as an extension to property damage and business interruption wordings, and it is applicable to all policies.
Provides rapid notification of claim receipt, status, and payment
Harmony United Med solutions and the clearinghouse sends you timely reports indicating what claims were received, and accepted or rejected, giving you control over your claim submission and billing, and the opportunity to respond immediately. Electronic claims also are subject to automated error checking, which results in fewer rejected claims and the “back-and-forth” mailing associated with paper claims.
Reduces clerical paperwork
Electronic claims are processed in half the time of paper claims. Your staff doesn’t have to maintain an elaborate paper claim follow-up or tracking system because with electronic claim submission you receive comprehensive, timely reports that do the work for you. Your staff is free to handle other important tasks, such as making recall appointments and conducting patient follow-ups.
Reduces staff time spent on follow-up and tracking
Knowing which claims are outstanding is easy! Most vendors provide reports that tell you the status of your electronic claims submission – which claims were received, accepted, rejected, and /or are past due. Your staff no longer has to spend hours handwriting paper claim forms; hold up claim submission in order to obtain patient signatures, or produce and maintain paper follow-up files. Your electronic claim forms are on their way to Harmony United Med solutions almost immediately after you treat your patients, relieving your staff of the cumbersome paper claim follow-up and tracking system, allowing them to be more productive.
Eliminates cost for postage, envelopes, and forms
Minimize the “Heavy” cost of Stationary. Now add the “Ease” costs -. Compare this to the cost to submit electronic claims, and you’ll see why thousands of Medical offices are submitting their claims electronically.
Improves cash flow
Your electronic claims reach Harmony United Med solutions within 24 hours. Paper claims must be mailed, opened, sorted, and scanned before being processed. Electronic claims are processed in half the time of paper claims.
Lowers outstanding receivables
Within the same period of time, Harmony United Med solutions will receive and process more of the claims you submit electronically than the claims that you submit on paper. This means you’ll receive payment on your electronic claims sooner than your paper claims, lowering your outstanding receivables. As an example, you treat a patient on Wednesday. The claim is generated electronically that evening from data you already entered into your computer, and Harmony United Med solutions receives it Thursday. The claim processes electronically, and the cheque is issued. Thus your accounts receivables decrease. Or, you treat a patient on Wednesday. The claim is generated on paper either by hand or from your computer. You mail it Thursday. Harmony United Med solutions receives it Monday and then opens, sorts, images, and scans it before being processed. Then, a data entry operator keys in additional data to process it. Your accounts receivables grow.
Paper Claim is otherwise known as the conventional claim system in the medical domain. Any kind of claim that has been generated for reimbursements after expenditure has been billed to or funded by the plan member or both, which will create clear accounts in a healthcare unit or in hospitals. In maximum cases, clients do not accept- electronic data and in such cases, the provider takes the printed statements of the paper claims and mail to them on a daily basis. In the process of paper claims, when an invoice or bill is entered then the information regarding the claims are printed and dispatched to the appropriate person who is in charge of the payments.
Paper Claim is otherwise known as the conventional claim system in the medical domain. Any kind of claim that has been generated for reimbursements after expenditure has been billed to or funded by the plan member or both, which will create clear accounts in a healthcare unit or in hospitals. In maximum cases, clients do not accept- electronic data and in such cases, the provider takes the printed statements of the paper claims and mail to them on a daily basis. In the process of paper claims, when an invoice or bill is entered then the information regarding the claims are printed and dispatched to the appropriate person who is in charge of the payments.
Patient statements help you reduce your costs and save time by billing your patients quickly and efficiently. With patient statements, you can create a fully electronic billing and payment experience for your patients and leverage traditional print and mail statement workflow. You can print and mail your own patient statements or outsource the printing and mail to Harmony United Medsolutions. By automating your patient billing process you can accelerate cash flow, lower your costs, and save precious time while providing greater convenience to your patients.
Payment posting helps you improve your productivity by automatically posting electronic insurance payments and streamlining the manual payment posting process. You can post insurance payments automatically with ERAs, post insurance checks from EOBs, post patient payments, and print receipts. By automating and streamlining payment posting, you can improve your productivity and save time.
Denials Processing: Correspondence and denied claims are processed in daily batches by our team of experienced billing personnel. Taking a proactive approach to handling denials, we can improve your “days in AR” substantially.
Claims Follow-up: Unpaid claims are first sorted and ordered by financial class. Then, our employees in this unit called on the appropriate insurance companies or self-pay patients (if requested) to aggressively resolve any non-payment issues.
Minimize lost reimbursements and denials with highly efficient systems and services designed to meet your needs. Maximize your effectiveness at collecting unpaid claims. Precision expertly tracks and manages timely follow-up on all unpaid claims, ensuring that no time is lost on pursuing every reimbursement possibility.
Precision dedicates specific staff, well trained and experienced in denial management, to undertake this very important work. The software tools used by Precision’s staff allow for well managed and timely follow-up on all unpaid claims. These same workflow tools allow for extremely detailed and useful reporting, making work done on denied claims very visible and make accountable all the resources devoted to this task.
Precision’s team of experts is always available to offer immediate support to you and your staff no matter what the issue or problem may be.