Discuss the time frame in which aging account reports should be run and reviewed by billing staff. Differentiate between reports on the patient accounts and the monies owed and reports on insurance company and how much money is owed and for how long (aging). Explain how the revenue cycle is affected by the aging reports.
What will be an ideal response?
Timeframe: Monthly
Patient aging results in dealing with billing statements, collection agencies, and patient calls. Insurance aging deals with claim denials, filing limits, and outstanding amounts that are not processed by insurance carriers. Calls are made to the carrier to resolve.
Revenue cycle is negatively affected if the aging reports are not run to identify delays in payment.
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