Following up on aging insurance claims is difficult due to the time needed to sit on hold with the insurance company. Most often team members are interrupted by a phone ringing or a patient in the office that needs assistance. Yet, when these claims are not paid, they often delay payment from the patient as well and contribute to a rising accounts receivables. Being diligent with insurance claim follow up will also help manage the accounts receivables.
The list of outstanding insurance claims and claims requiring additional information should be viewed weekly. Phone calls should be made that week for any claims that are over 30, 60 or 90 days old however, the number of claims over 90 days old should be 0. Claims requiring additional information should be responded to that week as well.
It can take some time to get caught up with the insurance claims needing additional attention however, it is a great service to our patients and important in managing accounts receivables as well.
Action Plan: Run an Insurance Claim Aging Report in your practice management software. Is your team able to manage the insurance claim follow up within the time frame needed? If not, call us and we will call the insurance company for you, so you can give your patients the undivided attention they deserve.