Medical Billing Payment Posting Process by Medtrx Healthcare Solutions

At Medtrx Healthcare Solutions, we understand that efficient and accurate payment posting is a crucial part of the medical billing cycle. Our payment posting process ensures that all payments are properly recorded, reconciled, and compliant with fee schedules. This guarantees seamless revenue flow for our clients.

Key Steps in the Payment Posting Process

1. Directing Payments to the Remittance Address

All payments received, whether from insurance companies or patients, will be directed to a designated remittance address to ensure centralized processing.

2. Daily Check Posting and Fund Transfer

Medtrx will post all checks received on a daily basis and promptly transfer all funds to the client, ensuring no delays in cash flow.

3. Daily Submission of 835 Payment File

Each day, we will generate an 835 electronic remittance file, also known as the “payment file,” and submit it directly to the client’s system, ensuring timely updates of payment data.

4. Payment Accuracy Review

Every payment received is meticulously reviewed to ensure claims are paid in accordance with the current fee schedule. If any discrepancies or underpayments are found, they are immediately flagged for further action.

5. Underpayment Appeals and Arbitration

In cases of underpayment, Medtrx will initiate the appeal process, including engaging in arbitration when necessary, to recover the full amount owed based on the contractual agreements.

6. Appeal of Denied Line Items in Global Payments

If any line items are not paid or are denied within a global payment, Medtrx will immediately appeal on behalf of the client, ensuring that all services rendered are reimbursed accordingly.

7. Carrier Communication and EOB Retrieval

Our team will handle all carrier calls to obtain supporting Explanation of Benefits (EOBs) when required, ensuring that payments are properly documented and processed.

8. Tracking PPO Reductions

Medtrx diligently tracks all PPO reductions and provides detailed reports to the client, offering full transparency regarding payer reductions and reimbursement trends.

Comprehensive Payment Posting Services by MEDTRX

At MEDTRX, we offer end-to-end payment posting services designed to optimize your revenue cycle and improve financial accuracy. Our payment posting services include:

• Daily check posting and fund transfer to the client.
• Submission of daily 835 payment files to the client’s system for seamless updates.
• Appealing underpayments and managing arbitration processes to recover owed amounts.
• Immediate appeals for unpaid or denied line items within global payments.
• Proactive carrier communication to retrieve supporting EOBs when needed.
• Tracking and reporting of PPO reductions to keep clients informed.

Why Accurate Payment Posting is Crucial

Accurate payment posting not only ensures that your revenue is properly accounted for but also allows you to:

• Improve Cash Flow: Payments are posted and reconciled daily, reducing delays and improving overall cash flow.
• Identify Payment Issues Early: By reviewing every payment for accuracy, underpayments, and denied claims can be addressed immediately.
• Maximize Reimbursements: With appeals for underpayments and denials, MEDTRX works diligently to ensure full reimbursement for all services rendered.
• Maintain Compliance: By following fee schedules and contractual agreements, we ensure that all payments align with regulatory standards.

Why Partner with MEDTRX Healthcare Solutions for Payment Posting?

• Experienced Professionals: Our team is skilled at managing the complexities of medical billing and payment posting.
• Timely and Accurate Service: Payments are posted, reviewed, and transferred daily, ensuring smooth financial operations.
• Advanced Denial Management: We proactively address underpayments, denials, and unpaid line items, minimizing revenue loss.
• Compliance and Reporting: We track PPO reductions and provide detailed reports, ensuring full transparency and compliance with payer agreements.

Streamline Your Payment Posting with MEDTRX

With MEDTRX Healthcare Solutions handling your payment posting, you can trust that every payment is posted promptly, accurately, and in compliance with current fee schedules. We manage the administrative complexity, appeals, and carrier interactions so you can focus on patient care.

Contact us today to learn how MEDTRX can enhance your revenue cycle management and improve financial outcomes for our clients.

Call (201) 634-8700 or Schedule a Consultation Online.

MEDTRX your partner for successful revenue recovery.