CarePart LLC AR Recovery Services Maximize Revenue

CarePart LLC offers a comprehensive range of AR management services, recovering outstanding revenue from old AR accounts that are aging more than 120 days. Our system has been proven to be highly effective at increasing recovery, even from accounts that were thought to be lost causes. Unlike most medical billing companies, who only offer AR recovery solutions as part of a revenue cycle management package, CarePart LLC offers AR medical billing recovery services as a standalone option. We don’t believe in a one-size-fits-all approach to healthcare receivable recovery solutions and want to meet the unique needs of your business.

Case Study Results

Started On
1st April

Started On

Review Period
3 Months

Review Period

Collection Increased
$700,000 to $1 million

Collection Increased

Revenue Increased By
30%

Revenue Increased By

Systematically increasing revenue with effective claims management

CarePart LLC innovative system tracks every claim to completion, getting our clients the revenue they deserve.

Doctor holding money

CarePart LLC 4-Part Strategy for AR Recovery

Our strategy for managing aging AR accounts has been developed through years of experience. Our old AR recovery service is a streamlined approach
that is both fast and effective.

Doctor holding money

Systematic Evaluation

When our AR team offers account recovery solutions to a new client, the first step is a thorough review of every unresolved claim. There may be some that have expired or are not collectable for some other reason, but we find every one that can possibly be recovered and get to work on it.
We aren’t just looking for the “low hanging fruit” in this process. Many medical billing companies only look for high dollar claims in aging AR, but we know how fast the smaller amounts add up for our clients, so we look at any claim that could still be paid.

Prioritization

Our team analyzes older unpaid claims as a high priority to ensure that none expire before we get a chance to process them. Using advanced analytical tools to minimize medical account receivables, we stay ahead of the payers’ requirements to help you collect the maximum revenue possible. We consistently follow up with each payer to recover your overdue payments so you can focus on your practice, knowing that we are looking after your bottom line.

Doctor holding money
Doctor holding money

Claim Correction and Resubmission

Our dedicated taskforce doesn’t let a single claim be rejected, denied or underpaid due to lack of follow-up. After the appropriate corrections or clarifications are made, we appeal each of those claims so the insurance or government payer will reconsider the payment. We also monitor your claim denials and rejections, so we can identify any recurring causes and eliminate them permanently from your revenue cycle management system.

Patient Communication

If the AR team finds that the outstanding balance should be paid by the patient, we generate a report that is easy for them to understand and send it to them. If you would like us to also handle the direct interactions with your patients, we will do that too. We aren’t a collection agency, so you don’t have to worry about sending the wrong message to your patients.We’ve found patients are much more likely to pay their bills if they understand the charges and agree with the amount due, so we help make everything clear and easy to understand. We’ll even take their phone calls and answer questions if you would like us to.

Doctor holding money

Old A/R Collections

We often find that new clients have significant amounts of revenue being lost in aging AR accounts. Our claim management system includes a process for organizing old A/R and getting maximum recovery from those accounts. In many cases, it is as simple as clarifying what the amount is for and informing the right party, in the appropriate manner, whether it is a payer or the patient themselves. As a physician billing company, we streamline the medical billing process which results in reduced expenses and maximum revenue collection.

HIPAA Compliant and Secure Data Management

In order to keep patient information secure, we use the same level of digital security services that banks use. HIPAA compliance is not something you need to worry about when we take on your billing. Our physician billing management system is specifically designed to meet the confidentiality and security needs of the medical industry. CarePart LLC is a leading HIPAA-compliant physician medical billing company and has been serving the industry with a wide range of medical practice revenue cycle management services since 2013.

Missed Encounter Management and Tracking

A great deal of time and revenue is lost when patients just don’t show up for their appointments. Our system tracks where the problems occur and helps to find a solution. CarePart LLC’s innovative physician billing and management solutions let you easily engage your patients and quickly track the flow of encounters through the whole process. Our transparent system helps set up fee schedules, monitor claims, track encounters, patient engagement, revenue cycle optimization, appointment reminders and manage copays and identify any visits with missing charges.

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