Accounts Receivable (AR) in Medical Billing
Accounts Receivable (AR) refers to the outstanding payments for medical services provided by physicians that need to be collected from insurance companies and patients. While physicians and medical practices focus on patient care and daily claim submissions, it’s equally important to track what has been collected and what remains unpaid. Unresolved payments can lead to revenue loss, making Accounts Receivable Management a crucial process to ensure maximum reimbursements and proper compensation for services rendered.
Accounts Receivable Management
Effective AR management is essential for maintaining a steady cash flow. The goal is to collect all expected payments from both insurance companies and patients while working to resolve aging AR to prevent revenue loss. Outstanding payments are categorized into aging buckets based on how long they remain unpaid. With a strong strategy and an experienced partner like MGSI, AR can be managed effectively, ensuring most claims are collected within 30 days. Our team specializes in recovering old AR, making sure every dollar owed is collected.
Whether you need AR management services or a complete medical billing solution, MGSI has the expertise and experience to support your practice.
Why Outsource AR Management to MGSI?
Managing AR involves tasks like:
- Analyzing AR reports
- Identifying claim denials
- Refiling denied claims and handling appeals
- Following up with insurance companies and patients
- Tracking and reporting outstanding payments
For medical practices and physicians, managing AR can be overwhelming, as their primary focus is patient care and submitting new claims. MGSI takes over this burden, ensuring a smoother revenue collection process.
We offer AR management as a standalone service or as part of our full-service medical billing and revenue cycle management solutions. Our clients benefit from reduced AR aging, improved claim accuracy, and increased revenue.
Why Choose MGSI?
With nearly 30 years of experience in Healthcare Revenue Cycle Management, MGSI has built a strong reputation as a trusted medical billing service provider with:
✔ 95% first-pass claim acceptance rate
✔ 96% of claims paid within 0-30 days
Partnering with MGSI means clearing up AR backlogs and collecting outstanding payments efficiently. Let us help you streamline your revenue cycle and maximize collections.