Outsourced Payment Posting Services

Payment Posting Outsourcing

Smoothly ramp up and execute your day-to-day functions.

To ensure accurate and timely reimbursement, you need a payment posting team with the knowledge and expertise to manage claims and reconcile patient payments accurately and efficiently. Global Healthcare Resource delivers unparalleled payment posting services for medical billing tailored to your organization's needs.

When you choose Global Healthcare Resource as your payment posting partner, you can achieve a streamlined operation and expedient service.

Benefits of Outsourcing Payment Posting Services

When outsourcing to a professional service provider like Global Healthcare Resource, your organization will experience the rewards of working with a global team of experts focused on delivering:

Enhanced billing efficiency: You will experience faster bill-to-payment cycles, ensuring sufficient cash flow to cover expenses.
Improved billing accuracy: With a highly focused payment posting team, your organization will see fewer billing errors, increasing patient satisfaction.
Maximized revenue: Increased accuracy will help prevent denials and rejections, ensuring you receive the payment owed for services rendered.
Increased patient security: Working with a reputable payment posting service provider guarantees compliance with patient information protection and confidentiality regulations.

Why You Should Use Global Healthcare Resource for Your RCM Services

Partnering with Global Healthcare Resource affords you access to more than 6,000 HIPAA-compliant team members trained through our Global Academy to provide specialist revenue cycle management (RCM) services. Our team operates from our global locations in India, the Philippines, and the U.S., maximizing the Time Zone Advantage to offer 24-hour turnaround times.

Our company has 25 years of experience in medical RCM services and offers customizable turnkey solutions to suit your organization's requirements, including:

ERA and EOB Payment Posting in Medical Billing

An explanation of benefits (EOB) is created manually and issued to healthcare organizations and patients by the patient's medical insurance company after a medical consultation, test, or procedure. This document stipulates the amount charged by your organization, the amount you will receive, and the portion the patient's insurance company is liable for. Your patient is responsible for the difference, if applicable.

Obtaining this EOB from an insurer can take time and may introduce errors, which often delay the payments patients owe. With the right team and digital systems in place, your business will have access to electronic remittance advice (ERA) from the insurer. ERAs are automatically created through advanced software, speeding up the process and ensuring you have the information you need sooner for payment posting purposes.

Using an ERA as a substitute for an EOB when billing the patient aligns with HIPAA regulations, which means you will maintain compliance.

Contact Global Healthcare Resource for a Free Consultation

Global Healthcare Resource is your trusted payment posting services provider, offering experienced, highly qualified medical billing professionals who effortlessly operate as an extension of your existing team. Ensure accurate and swift claims and payment posting with a dedicated team focused on your success. Reach out to our experts today to schedule a free consultation and take advantage of our talented global professionals.

How does outsourcing payment posting services impact overall operational efficiency?

Outsourcing payment posting services can significantly enhance overall operational efficiency by:

Reducing Administrative Burden: Frees up internal staff from time-consuming payment posting tasks, allowing them to focus on core functions such as patient care and revenue cycle management.
Improving Accuracy: Specialized outsourcing partners often have advanced technology and trained personnel, leading to fewer errors in payment posting and reconciliation.
Accelerating Payment Processing: Streamlined processes and dedicated resources can lead to faster payment posting, improving cash flow and reducing days in accounts receivable.
Enhancing Reporting Capabilities: Outsourcing partners typically provide detailed reporting and analytics, enabling organizations to gain insights into payment trends and performance metrics.

How can healthcare organizations prepare for a transition to outsourced payment posting services?

Healthcare organizations can prepare for a transition to outsourced payment posting services by:

Assessing Current Processes: Conducting a thorough evaluation of existing payment posting workflows to identify areas for improvement and potential challenges.
Selecting the Right Partner: Researching and selecting a reputable outsourcing provider with experience in healthcare payment posting and a proven track record.
Establishing Clear Communication: Setting up open lines of communication with the outsourcing partner to ensure alignment on expectations, processes, and timelines.
Training Staff: Providing training for internal staff on new processes and how to collaborate effectively with the outsourcing partner.
Monitoring Transition Progress: Continuously monitoring the transition process and addressing any issues that arise to ensure a smooth integration.

How does Global Healthcare Resources payment posting service integrate with existing billing systems?

Global Healthcare Resources' payment posting service integrates with existing billing systems by:

Utilizing APIs: Employing application programming interfaces (APIs) to facilitate seamless data exchange between the payment posting service and the organization's billing software.
Customizable Solutions: Offering customizable integration options to accommodate various billing systems and workflows, ensuring compatibility and efficiency.
Real-Time Updates: Providing real-time updates on payment postings and adjustments, allowing organizations to maintain accurate financial records and improve cash flow management.
Data Security: Ensuring that all data transfers are secure and compliant with healthcare regulations, such as HIPAA, to protect patient information.

What should organizations look for when selecting a payment posting service provider?

When selecting a payment posting service provider, organizations should consider the following factors:

Experience and Expertise: Look for a provider with a strong background in healthcare payment posting and a proven track record of success.
Technology and Integration: Evaluate the technology used by the provider and their ability to integrate with existing billing systems seamlessly.
Accuracy and Compliance: Ensure that the provider adheres to industry standards and regulations, minimizing errors and ensuring compliance with healthcare laws.
Customer Support: Assess the level of customer support offered, including responsiveness and availability for addressing concerns or issues.
Reporting and Analytics: Consider the provider's ability to deliver detailed reporting and analytics to help organizations monitor performance and make informed decisions.

What are payment posting services, and why are they important in healthcare?

Payment posting services involve the process of recording and reconciling payments received from patients and insurance companies for healthcare services rendered. These services are important in healthcare because they:

Ensure Accurate Financial Records: Proper payment posting is essential for maintaining accurate financial records, which are critical for effective revenue cycle management.
Facilitate Cash Flow Management: Timely and accurate posting of payments helps organizations manage cash flow and ensure that they have the resources needed to operate effectively.
Reduce Days in Accounts Receivable: Efficient payment posting processes can lead to faster collections and reduced days in accounts receivable, improving overall financial health.
Enhance Patient Satisfaction: Accurate posting of payments helps prevent billing errors and confusion, leading to a better patient experience.

What types of payments are typically processed through payment posting services?

Payment posting services typically process various types of payments, including:

Insurance Payments: Payments received from insurance companies for covered services rendered to patients.
Patient Payments: Direct payments made by patients for co-pays, deductibles, and out-of-pocket expenses.
Secondary Insurance Payments: Payments from secondary insurance providers for services already billed to primary insurers.
Adjustments and Write-Offs: Recording adjustments, discounts, and write-offs related to patient accounts and insurance claims.
Refunds: Processing refunds to patients or insurance companies for overpayments or billing errors.

The integrity of your data is our #1 priority.

SOC 2 Type 2 Compliant.

SOC 2 Type 2 audits determine how well an organization safeguards customer data and how those controls operate over a 9-month (minimum) time frame. Reports are issued by third party auditors who review the following principles: Security, Confidentiality & Availability. Global Healthcare Resource is proudly SOC 2 Type 2 compliant.

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SECURITY

The security principle addresses whether an organization's system is protected (both physically and logically) against unauthorized access.

AVAILABILITY

The availability principle addresses whether the services an organization provides is operating with the type of availability that client's expect.

CONFIDENTIALITY

The confidentiality principle addresses the agreements made with clients in regard to how their information is used, who has access to it and how it's protected.

Global Healthcare Resource

Payment Posting Services

Cost-effectively streamline your revenue cycle processes by outsourcing your payment posting.