Payment Posting Services
Contact UsBenefits of RCM Matter’s Payment Posting Services
Managing revenue in healthcare billing is a complex process that requires accurate payment posting. By predicting reimbursement trends and financial status, providers can resolve denials quickly and efficiently. To achieve this, healthcare organizations need an effective payment posting service.
At RCM Matter, we have over 10 years of experience providing dependable and affordable payment posting services to healthcare providers of all sizes. Our well-defined posting process guarantees a fast turnaround time. Our clients, from large hospitals to small practices, trust us to accurately post insurance payment data, checks, and patient payments. We follow the industry’s best practices and information security protocols to ensure our services meet your business requirements.
Certain insurance plans may require pre-authorization or referrals for specific procedures or specialist visits. Fulfill these requirements or document them correctly to avoid denied claims.
When a patient has multiple insurance policies, it’s important to coordinate benefits properly. You can avoid having claims denied by correctly blending the benefits between the primary and secondary insurance plans.
The claim may be denied if a patient’s insurance coverage has expired or is not qualified for the service billed.
Errors in the billing process, such as inaccurate patient or provider details, mismatched codes, or typos, can result in denials.
Expert ERA & EFT Enrollment Services
Optimize your healthcare revenue cycle with our expert ERA & EFT enrollment services. As a trusted payment posting solution provider, we streamline the integration of Electronic Remittance Advice (ERA) and Electronic Funds Transfer (EFT) into your financial system, eliminating manual errors and accelerating revenue flow. Our tailored solutions cater to the unique needs of your practice, ensuring compliance with industry standards and regulations. With a focus on robust security measures, seamless integration, and scalability, our services prioritize the confidentiality of your sensitive financial data. Experience a transformative shift towards enhanced financial efficiency, reduced administrative burden, and dedicated focus on delivering quality healthcare services to your patients.
Our Payment Posting Process
Receive Payment Information
Payment information is received from various sources, including Electronic Remittance Advice (ERA) for insurance payments and receipts or statements for patient payments.
Verification and Matching
Verify the received payment information against the corresponding claims or invoices. Ensure that the payment amounts match the expected amounts based on the processed claims.
Data Entry
Enter payment details into the healthcare provider's financial system. This includes recording the payment amount, payment date, and any relevant details provided in the remittance advice or payment receipt.
Allocation of Payments
Allocate payments to specific claims or invoices. This involves linking each payment to the corresponding service or procedure for which it was received.
Adjustments and Write-Offs
Make any necessary adjustments, such as contractual adjustments or write-offs, based on the information provided in the remittance advice or payment receipt. These adjustments reflect the agreed-upon rates between the healthcare provider and the payer.
EOB Posting (Explanation of Benefits)
If the payment is associated with insurance claims, reconcile the payment information with the Explanation of Benefits (EOB) received from the insurance company. Ensure that the EOB details align with the payment received.
Reconciliation
Conduct a thorough reconciliation to ensure that the total payments recorded match the expected revenue. Identify and resolve any discrepancies or issues that may arise during the payment posting process.
Reporting
Generate reports to track and analyze payment trends, outstanding balances, and other relevant financial metrics. These reports provide insights into the financial health of the healthcare provider.
Integration with Financial Systems
Integrate payment posting data into the healthcare provider's overall financial and billing systems. This ensures that the payment information is accurately reflected in the provider's records.
Communication
Communicate any significant findings or discrepancies to relevant stakeholders, such as billing and finance teams, to facilitate effective resolution.
