Payment Posting

Payment Posting Services

The payment posting process showcases the effectiveness of your revenue cycle. Accurate payment posting provides insight into the status of your revenue cycle, therefore you need to select a highly productive workforce to handle payments. It also enables you to run analytics to understand trends in reimbursements.

Importance Of Accurate Payment Posting

An accurate payment posting system is essential since it has an immediate impact on your revenue cycle. Therefore, monitoring it closely from the start will save you a ton of time and work and improve the effectiveness of your revenue cycle.

There can be several benefits of an efficient payment posting, like:

Opportunities for raising your income by monitoring your practice
Facilitates the billing and payment collection process.
Provides a clear view of your incoming payments so you can know your profits.

CFT’s Payment Posting Process

We follow the protocols established by our clients and handle various types of remittances with enhanced accuracy and responsiveness. The following services are offered by us:

Patient Payments

Our clients provide us with information on the point-of-service payments made by our patients. These payments can be made with cash, checks, or credit cards, may be on account of deductibles, co-pays, or non-covered services. Our team reviews the data received and adjusted against each patient’s account.

Insurance Posting

We process Insurance Payments in the following formats

Electronic Remittance Advisory: Payers provide us ERAs in high volumes, which we process in batches by importing into the practice management system of the customer. Every batch run generates exceptions that fall out, which we fix in addition to verifying the batch totals.
Manual Posting:
Often, our clients email us their scanned EOBs. Every EOB batch is processed in accordance with the business requirements of the client for adjustments, write-offs, and balance transfers to secondary insurance companies or patients. Secure FTPs or the EHR system are used to access the batches.

Denial Posting

Posting of claim denials is necessary in order to accurately determine the A/R cycle of the customer. The payers return denied claims with ANSI codes for denials and occasionally with payer-specific medical coding requirements.

We are proficient in denial codes that are ANSI standard and we are aware of the payer-specific codes for the majority of payers. After every claim denial, we log it in the practice management system and take appropriate action, such as sending the claim for reprocessing, writing off the amount, or rebilling to the secondary insurance provider. .