How to reduce AR days for Cardiology Billing?
Outstanding Accounts Receivable (AR) in healthcare are one of the most pressing issues confronting the practices. In fact, healthcare providers are frequently looking for the best solutions to reduce their receivables for more than 30 days, as well as ways to prevent them from happening in the first place . Accounts receivable (AR) that is more than 90 days old is a key industry metric for determining the health of your cardio practice. According to healthcare data, AR over 90 days is in the average 15-20% range. If you have a greater percentage of AR that is more than 90 days outstanding, you obviously have a severe cardiology billing problem on your hands. Lesser the number of days in A/R means greater efficiency and faster payments. That’s why the majority of cardiologists want to strive for an average A/R cycle of 30 days for smooth cash flows. Reasons for Increased AR Days: · Delays in filing claims · ...