Payment Posting In Medical Billing
Payment Posting
Payment Posting is the last and crucial step in the Revenue Cycle Management process.
- Posting Insurance data from EOBs.
- Posting payment data from ERAs to patient accounts
When the claim is processed by the carrier, they issue a check and prepare a Explanation of Benefit (EOB) document. EOBs consists of patient name, service dates, procedure codes, allowed amounts, denied amounts, deductibles, co-payments, etc. As part of the payment posting process, if the EOBs contain denied claims, they are taken up for denial management process again.
Insurance Payment Posting: All payers either send an EOB (explanation of benefits) or ERA (electronic remittance advice) towards the payment of a claim. The medical billing staff posts these payments immediately into the respective patient accounts, against that particular claim to reconcile them. The payment posting is handled according to client-specific rules that would indicate the cut-off levels to take adjustments, write-offs, refund rules etc.
When the client’s office delays in either depositing the Payer checks or sending the ERAs and EOBs for posting, then a negative balance prevails for that claim, which is a false representation of the actual scenario. This false representation would show an inflated AR, resulting in the Physicians not knowing exactly how much revenue is due to them.
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Medisure’s services are not software-dependent and we work seamlessly with all practice management tools.
Contact Us or Request a Free Quote if you are interested in our Medical Billing Services,
our support team is available 24/7 to answer your queries for free.