While the medical industry puts its focus on their patients, but that doesn’t always involve treating them for an illness or injury. Sometimes, working with patients means making sure that they are getting the most out of their insurance. This is often the responsibility of medical industry employees who work in accounts receivable.

Investigate Insurance Denials

Every hospital has a set standard about what is an appropriate or usual amount of insurance claim denials. For most businesses in the medical industry, the accepted claim denial rate is under 5%. For this reason, it’s generally considered odd when an insurance claim is denied. Was the claim denied for a legitament reason or was it denied due to a fluke in the system? Part of a medical industry accounts receivable employee’s job is to investigate denied claims.

Resolve Payment Disputes

Sometimes patients will either refuse to pay their bills or cannot pay their bills due to a lack of funds. When this happens, an accounts recievable employee needs to do whatever they can to work with both insurance companies and patients to make sure the bill is paid.

What if the insurance has already gone through and the patient still doesn’t have enough money to cover their bill? An accounts receivable employee can help him or her to set up a payment plan. Sometimes, filling out certain forms and applying for reimbursement can also make the bills easier to pay.

Collect Patient Liabilities

Sometimes patients simply do not have insurance. When this happens, it can be near impossible for them to cover expensive hospital bills. Luckily, medical industry accounts recievable employees can help. People who do not have insurance may be eligible for other cost-reducing options.

Other liabilities include decutibles and coinsurance. Patients may have a difficult time understanding these things and may require help to know how much they actually need to pay. Sometimes, simply reading the bill can be complicated. Medical industry accounts recievable employees need to have great communication skills (both over the phone and in person) to help to make this process as easy as possible for everyone invovled.

Whether you want to work in accounts receivable at a hospital or another medical industry, or you are wondering if you need to contact a accounts receivable employee, hopefully this article was able to help you to get some much-needed information. Good luck with getting all of your questions answered!