Payment Posting
Payment Posting Services
Accurate and timely payment posting is a foundational element of an effective revenue cycle. At Mediculogy, our dedicated Payment Posting services are designed to ensure that all payments received from insurers and patients are recorded precisely and promptly, maintaining your practice’s financial integrity and transparency.
Why Payment Posting Matters
Payment posting is more than just entering numbers into a system — it’s about ensuring that every dollar paid is properly applied to the right account, claim, and service. Mistakes in payment posting can lead to inaccuracies in your financial reports, unresolved patient balances, and delays in revenue recognition. Our expert team understands the nuances involved and applies a meticulous approach to reduce posting errors and discrepancies.
What We Handle
Our payment posting specialists manage all aspects of this critical process, including:
- Electronic Remittance Advice (ERA) and Explanation of Benefits (EOB) posting: We carefully interpret payer communications to apply payments correctly.
- Handling patient payments: We post patient co-pays, deductibles, and other out-of-pocket payments while ensuring patient balances are accurately updated.
- Adjustments and write-offs: Our team identifies and processes contractual adjustments, denials, and necessary write-offs to keep your records clean.
- Secondary insurance payments: We coordinate postings for secondary and tertiary insurance payments to prevent missed revenue.
- Discrepancy identification: Payment variances and underpayments are flagged immediately for follow-up, reducing lost revenue.
Benefits to Your Practice
By outsourcing payment posting to Mediculogy, your practice benefits from:
- Enhanced financial accuracy: With reduced errors, your accounting and reporting reflect true financial health.
- Faster revenue reconciliation: Quick and precise payment posting accelerates the closing of accounting cycles.
- Improved transparency: Clear, up-to-date payment data supports better financial decision-making.
- Reduced administrative burden: Free your staff from manual payment posting to focus more on patient care and other critical tasks.
Our Process
We integrate seamlessly with your existing billing and practice management systems to ensure secure, HIPAA-compliant processing. Our team follows strict quality control standards, performs regular audits, and provides detailed payment posting reports that keep your management informed every step of the way.