Knack Global is a proficient service provider of Revenue cycle Management. Accounts receivable is a key factor in determining the cashflow and it requires expertise in optimizing A/R ratios. Industry statistics prove that large sums of money is lost each year due to inadequate management of Accounts receivables.
As we have been into this industry for over a decade, we are able to provide proven techniques and procedures for each step of the RCM cycle. As a client-centric organization, we offer stand-alone service for AR which is seamlessly merged into your existing capabilities. It requires a proactive and diligent approach to monitor the receivables and devise action plans to maximize the cash flow.
Healthcare providers are focussing on critical medical services for their patients and managing A/R is a more tedious and cumbersome task for them. Market studies highlight that collections costs are not optimized when done in-house by the clinics. An expert A/R service provider is more value-adding and acts as your revenue-enhancing partner.
Advantages of Knack Global A/R Services
- We have in-depth knowledge on best practices of the industry for minimizing A/R
- We employ trained and competent experts to have rigorous follow up
- Improved cash flow, better collection ratios and proactive follow-ups
- Leading-edge technology for high precision and control through our Billing software.
- Analytics to help devise an action plan and improve the existing system
- Reports to give real-time status
- We take care of your rejections and ensure higher first pass percentage.
Analysis of A/R
Accounts Receivables is a coherent aspect of RCM and itself a complex step. Our A/R services are a blend of managing each step that adds to the revenue collection. It is a series of careful considerations, analysis, and metrics to give you descriptive, predictive and prescriptive insights into managing better A/R.
Analysis of A/R can render deep insights that help you modify other steps of the RCM in order to improve cash flow.
- Each claim is considered as a value-adding a point in the A/R system. Reviewing each claim by our experts ensures improved reimbursements.
- Certain claims may require re-submission with additional documentation.
- Denials need to be queued and managed separately.
Reports of A/R
Knack Global has been consistently managing Accounts Receivables services for our clients. We generate critical reports that help our clients understand their status and make action plans. We keep track of the A/R and document information that comes handy for our clients.
Common reports that we use are mentioned below. However, reports are customized as per client requirements.
Estimation of Account Receivable can be understood using
- Practice Analysis
- Collection Ratio Report
- Insurance Analysis
Aging Report of Account Receivables also gives us an understanding of trends
Knack Global delivers a comprehensive solution for the entire spectrum of A/R. We track your cash flow and each unpaid claim is closely monitored. We deliver this by using technologically advanced systems for
- A/R Analysis
- Insurance Follow Up
- Self-pay Follow Up
- Payer Punctuality
- Aging Analysis
- Collection Analysis