Maximize your revenue and accelerate cash flow with our comprehensive accounts receivable management solutions.
Optimize Your AR NowTransforming your outstanding revenue into collected cash
Accounts Receivable (AR) management is the process of tracking and collecting payments owed to your practice for services rendered. It involves managing outstanding claims, patient balances, and ensuring timely payment from insurance companies and patients.
Effective AR management is critical for maintaining healthy cash flow and financial stability. The average medical practice has 25-40% of its revenue tied up in accounts receivable, representing significant opportunity for improvement.
At CareAxis, we specialize in transforming AR management from a cost center into a revenue generator. Our comprehensive approach combines advanced technology, proven processes, and expert staff to accelerate collections and reduce days in AR.
We don't just collect payments—we analyze your entire AR process to identify inefficiencies, implement improvements, and prevent future bottlenecks in your revenue cycle.
Professional follow-up on outstanding insurance claims to accelerate payments and reduce denials.
compassionate patient billing and collections that maintain patient relationships while improving collections.
Comprehensive analysis of your AR performance with actionable insights for improvement.
Comprehensive solutions for all your accounts receivable needs
Comprehensive evaluation of your current AR performance, including aging analysis, denial patterns, and collection effectiveness.
Professional follow-up on pending insurance claims, including status inquiries, appeals, and resolution of payment delays.
Compassionate yet effective patient communication regarding outstanding balances, payment plans, and financial assistance.
Accurate posting of payments, adjustments, and denials with complete reconciliation to ensure financial integrity.
Detailed reporting on key AR metrics, trends, and performance indicators with actionable recommendations.
Redesign of AR workflows and processes to improve efficiency, reduce delays, and prevent future bottlenecks.
Systematic approach to optimizing your accounts receivable
We begin with a thorough analysis of your current AR situation, including aging reports, denial patterns, and collection processes to identify opportunities for improvement.
Our team establishes efficient AR workflows tailored to your practice, including clear escalation paths and responsibility assignments.
We proactively manage your accounts receivable with systematic follow-up on outstanding claims, prompt resolution of denials, and effective patient communication.
Continuous monitoring of key AR metrics with regular reporting on progress, challenges, and recovery results.
Based on performance data, we continuously refine and optimize AR processes to prevent future bottlenecks and improve efficiency.
Regular review of AR performance with strategic adjustments to maximize collections and maintain optimal financial health.
Key metrics we track to optimize your accounts receivable
This critical metric measures the average number of days it takes to collect payments due to the practice. Lower days in AR indicates more efficient revenue cycle management.
The aging report categorizes outstanding balances by how long they've been unpaid. This helps identify problem areas in the collection process.
Collection rate measures the percentage of allowed amount that is actually collected. This indicates the effectiveness of your collection efforts.
Denial rate measures the percentage of claims denied by payers. Reducing denials is key to improving AR performance.
How our accounts receivable management transforms your practice
Accelerate collections and reduce days in AR to maintain healthy cash flow for your practice.
Recover lost revenue from denied claims and outstanding balances that would otherwise be written off.
Free up your staff to focus on patient care rather than collections and follow-up activities.
Eliminate the headache of managing complex AR processes with our expert team handling everything.
Ensure all collection activities comply with healthcare regulations and payer requirements.
Maintain positive patient relationships with compassionate, professional collection approaches.
Artificial intelligence identifies patterns and predicts payment outcomes to optimize collection strategies.
Customizable dashboards provide real-time visibility into your AR performance and key metrics.
Intelligent automation handles routine follow-up tasks, freeing staff for complex collection issues.
Multi-channel communication system for effective follow-up with payers and patients.
HIPAA-compliant secure portal for document exchange and communication with payers.
Comprehensive reporting tools with drill-down capabilities for detailed analysis.
Real results from practices using our accounts receivable services
25 providers, Midwest
Challenge: 58 days in AR with $1.2M over 90 days old
Solution: Implemented our comprehensive AR management with focused denial management
Results: Reduced to 32 days in AR and collected $850K of aged accounts within 6 months
15 providers, West Coast
Challenge: 22% denial rate with inefficient appeal process
Solution: Our denial management and AR recovery program
Results: Reduced denials to 7% and increased collection rate from 89% to 96% in 9 months
40 providers, Northeast
Challenge: Inconsistent patient collections and high bad debt
Solution: Implemented our patient AR management program with payment plans
Results: Increased patient collections by 42% and reduced bad debt by 65% in first year
8 providers, Southwest
Challenge: Manual processes causing delayed claims and payments
Solution: Our technology-enabled AR management with automated workflows
Results: Reduced days in AR from 45 to 28 and eliminated claims aging beyond 60 days
Talk directly with our experts and get started today.
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