Payment Posting

KR Billing Solutions can help healthcare providers of all specialties with their billing process and revenue management. We are a reliable and proven revenue management company that understands the various steps involved in the billing process and can handle all your billing needs. KR Billing Solutions can provide our expert knowledge and experience to maximize your company’s revenue.

About Payment Posting

Payment posting provides a deep understanding of a practice’s everyday revenue flow and allows you to view payments. It, therefore, provides a snapshot of the financial picture of the medical practice and refers to the logging of payments into the medical billing software. Payment posting provides a view on insurance payments in explanation of benefits (EOBs), insurance inspection from electronic remittance advice (ERA), and payments from patients.

By getting an overview of the financials via payment posting, healthcare providers can determine revenue leaks and solve them immediately. They are also able to have a comprehensive view of the day-to-day finances of their healthcare business. This prevents simple mistakes such as incorrect data entry of claims from snowballing and causing bigger problems in the billing process.

Payment posting is therefore the first line of defense to identifying payer problems. Various issues such as non-covered services, denials for claims and medical necessity, and prior authorization can be uncovered and addressed immediately by team members. Catching these issues quickly via payment posting will make the billing process smoother and easier for everyone involved.

Payment posting is thus an integral part of the revenue cycle regardless of whether you use a third-party billing service or bill in-house because it acts as a preventive measure.

Key Features of Payment Posting

Payment posting allows your team members and company to identify opportunities to increase revenue through the monitoring of daily trends within the medical practice. There are several key features of payment posting which can make your billing process more efficient and increase your company’s revenue.

  • Write-offs and adjustments: By processing write-offs and adjustments and reporting any inconsistencies or unusual contractual adjustments to higher management
  • Patient responsibility: Identifying and moving balances to the patient so that the patient bears responsibility and decreasing the patient billing time
  • In-person collection issues: Identify issues and provide input on collecting deductibles and copayments, non-covered services, denials, and prior authorizations at the point of service to avoid future denials
  • Handling denials: Report and reroute denied claims to the appropriate coding and denial management team for reworking and resubmission to payers within an appropriate timeline
  • EOB and ERA Posting and Reconcilement: Verifying that data from both explanations of benefits and electronic remittance advice match payments.

Why Choose KR Billing Solutions?

KR Billing solutions understands the importance of payment posting and will work with your company to evaluate the payment posting process. We have the necessary software, expertise, and professionals to increase your business profits and smooth out the overall medical billing process. You can count on us to get a precise payment posting process in place.

If you have any questions about payment posting, you can call us at (855) 978-6499 or send us an email.

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