Payment posting is the process of posting payments received from insurance companies and patients against the patient account. It is direct proof of the effectiveness of the revenue cycle. It also indicates the financial health of a practice. 

Payment posting may appear to be just posting simple data into the system. To a discerning and knowledgeable team, it can give many insights. Our payment posting services are accurate and they aid your practice to thrive in several ways.

It is at the payment posting stage that issues with payors can be identified. Issues such as denials, non-covered services, prior authorization will be uncovered at this stage. As many processes of the medical billing cycle are automated, it is easy to study trends in reimbursements. Hence it is vital to ensure accuracy in medical payment posting.

As much as issues can be identified, a well-structured RCM payment posting process can also help identify opportunities to increase revenue by examining trends within a practice. Since payment posting in medical billing can be a valuable tool in analyzing trends, increase revenue and enhance the overall medical billing process, it is vital to have this process structured to be efficient and effective.

We process all types of payments with accuracy. We post the payment details within 12-24 hours of its receipt.

1. Payment data from insurance companies are of two types and we do posting insurance payments

• Paper Explanation of Benefits – Manual Posting: Clients may send us the scanned Explanation of Benefits. These are accessed through secure FTP and adjustments are made as per the instructions from clients.
• Electronic Remittance Advice – Electronic Posting:  We receive ERAs from payors and import them into the client’s practice management system. 

1. Payments from patients 

Patient payments – Manual Posting: We receive information about patients making payments to our clients via cash/credit card/check and post the data into the patient’s account. Payments could be on account of co-pays, deductibles and non-covered services.

1. Denial posting

Our team is conversant with ANSI denial codes as well as other codes used by payors. The denials information is posted against the claim in the patient account and appropriate action is taken.

Our payment posting services are designed to follow the steps given below

• Your ERAs can be taken directly from clearinghouses, or you could scan and send us your paper EOBs via our secured FTP. Payment posting is done after that.
• Cash posting in healthcarebilling and any other form of payment by patients is posted in the patients’ accounts. 
• Information regarding denials is captured – Low pay & No Pay
• Submission of claims to the secondary insurance company
• Generating patient statements

• You can be assured of high quality, accurate and efficient payment posting services. As a result, your accounts receivables will be correct.
• We do the cash posting in medical billing and other payment posting to respective patient accounts on the same day. We post, balance and reconcile all payments received within 12-24 hours.
• Our daily reconciliation process ensures a smooth closing of accounts at the end of the month. All payments received during the month are correctly accounted for and matched to actual deposits.
• Your accounts receivables are correct. Accurate AR information leads to fruitful analytics.
• Our accurate payment posting process ensures that your patients get the right bill for their co-pays, deductibles, out of pocket expenses, non covered services and more.
• We provide inputs on trends in denials, non-covered services, prior authorization, and deductible or co-payment by patients. It helps you to take action to increase your revenue.

When payment posting is done correctly, the entire revenue cycle’s performance can be assessed and improvements made. Your practice can thrive as a result of studying trends and taking action. The practice’s cash flow increases.

Billing issues can be addressed quickly. Secondary payors will be billed correctly and patients will receive their statements promptly. The efficiency and effectiveness of the entire medical billing cycle is raised.