As soon as your medical practice sends a claim to the payer, you will only be counting down the days until you receive the actual payment. Of course, it is a must to ensure that you receive the payment as soon as possible since delays will eventually cost your business.
What increases your payment turnaround time
It is ideal to get the account receivables cleared in less than 30 days. However, there are cases when the payment gets delayed. There are several factors why it takes a long time for a payer to make the payment. Here are some of those factors:
- claim errors
- multiple denial appeal
- missing the right time for filing
Do your best to reduce the A/R turnaround time. Here are some helpful tips that you can take advantage of: