Payment Posting

Payment posting poses a daily challenge for nearly every provider or practice, serving as the final step in the medical billing process. It involves the processing of Explanation of Benefits (EOB) and facilitating payments from medical insurance institutions. The completion of this process is marked by the entry of payment records into the medical billing software.

For providers, dealing with medical insurance institutions that cannot provide electronic remittance advice (ERA) may result in manual entry of medical payments. This manual process, due to laid-back systems of certain payers, can cost providers a considerable amount of time and money.

ZenexMed is here to streamline your processes by offering accurate and prompt payment posting services, making the entire procedure more manageable for your practice.

EOB Analysis: The EOB statement provides crucial information about billed amounts, denial details, codes, co-payments, and more. It also identifies trends in receivables, such as the frequency of inflows, likelihood of denials, outstanding amounts, etc. Our team at ZenexMed carefully analyzes these trends by scrutinizing the EOB and then enters the essential information into the billing software. This analysis helps in devising a plan to increase payments and reduce denials in the future.

ZenexMed’s Payment Posting Services include:

1. Recording payments within 24 hours or less of receipt.
2. Thorough analysis of EOB, dealing with payment posting, including the computation of write-offs, deductibles, and co-insurance.
3. Quality assurance of EOB to ensure error-free claims processing.
4. Electronic Remittance Advice (ERA) processing.
5. Immediate billing of patients after EOB or ERA posting, including computation and allocation of write-offs, deductibles, and co-insurance.
6. Follow-up services by the account receivables team upon successful payment posting.

Choose ZenexMed for efficient payment posting services that enhance your practice’s cash flow and overall financial management.