How Your Practice Can Benefit From Accounts Receivable Management
                     How Your Practice Can 
Benefit From Accounts 
Receivable 
Management?
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Introduction
● Cash flow is the bloodline for any business. Businesses can endure a lack of 
benefits, yet can’t endure a lack of cash flow. 
● Managing account receivables is fundamental to the financial health of the 
medical practice. 
● Account receivable management's objective is to keep the inflow of cash 
healthy. 
● The ability to maximize collection and productivity relies upon it. Thus, it is 
significant that practices realize what process they can actualize to guarantee 
smooth-running AR operations. 
● A general guideline for reducing your accounts receivable is to focus your 
energies where there is guarantee of return for the least amount of exertion. 
● For most practices, this implies concentrating on decreasing the amount of 
denied claims from insurance agencies. 
● Hence it is imperative to think about account receivable management solutions.
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Verify insurance benefits
● For most practices, invalid 
insurance is the most common 
reason for claims rejection. 
● The  reason for the rejection is 
inability to appropriately verify 
benefits prior to the time of 
service.
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Few Tips to Avoid Claim Denials
● Verify benefits for each patient, on 
each visit
● Use the billing system to automate 
the insurance eligibility verification
● For the future purpose, scan the 
patient’s insurance card into the 
billing system. So you can easily 
recheck the ID number, patient 
name, Insurance information, etc 
when the claims get denied.
● Verify the patient insurance 
information such as co-pays, payable 
benefits, co-insurances, patient 
policy status, effective date, 
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insurance plan type, coverage 
details, etc.
Follow-up with Outstanding 
Accounts Receivable
● AR follow-ups effectively recover the 
overdue payment from insurance 
agencies on time. 
● AR follows up services enables 
healthcare organizations to run 
smoothly and effectively while 
ensuring the owed amount is 
refunded back in as short a period as 
could be expected. 
● Account receivable follows up team 
is responsible for denied claims,  
reopen them to get maximum 
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reimbursement from insurance 
agencies.
Benefits of Outsourcing Accounts 
Receivable Management
● Effective account receivables 
management ensures that working 
capital requirements are kept at 
least. 
● Account receivable management can 
incredibly improve your primary 
concern benefits. 
● When you comprehend the expense 
of carrying an unpaid balance and 
measure your exhibition with the 
correct measurements, you will begin 
to see opportunities to improve.
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● Reduce denials and improve claim 
management
● Reduce compliance risk
● Improve coding accuracy
● Increase revenues 
● Improve billing and collection 
efficiency and reduce the operational 
costs
● Stop profit leakages
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About MGSI
● MGSI is the top Medical billing outsourcing company in Florida. 
● MGSI is an A+ rated company with Better Business Bureau and HIPAA 
compliant certified company. 
● We have 25 years of experience in revenue cycle management services. 
● We always ensure a high level of patient data and network security. 
● We provide various billing services such as anesthesia medical billing, 
cardiology medical billing, radiology billing, healthcare contract 
management, AR follow-ups, denial management, revenue cycle 
management, Insurance eligibility verification, etc. 
● We use the latest technologies to minimize medical billing errors and 
maximize billing collections. 
● To know about our services log on to our website: www.mgsionline.com  
and Schedule an appointment with us.
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Thanks
!
Any questions?
You can find us at:
       
www.mgsionline.com
       1-877-896-6474
       
[email protected]
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