Post-service
>
Accounts Receivable and Denial

Efficient follow-ups. Increased reimbursements.

Experience improved denial recovery rate by up to 70% and higher reimbursements by up to 30% with the help of our exceptional AR and Denial Management services.

Up to
70
%
denial recovery rate
Legacy AR less than
14
%
Up to
100
k
USD retrieved from legacy AR
Up to
70
%
denial recovery rate
Legacy AR less than
14
%
Up to
100
k
USD retrieved from legacy AR
Up to
70
%
denial recovery rate
Legacy AR less than
14
%
Up to
100
k
USD retrieved from legacy AR
Up to
70
%
denial recovery rate
Legacy AR less than
14
%
Up to
100
k
USD retrieved from legacy AR
What we offer

Accounts Receivable and Denial

Accounts Receivable (A/R) and Denial Management are vital processes that ensure unpaid and denied claims are addressed in a timely and efficient manner. AR and Denied Claims significantly impact the overall payout, thus it becomes imperative to have a strategic and analytical approach to accounts receivable management revenue.

Accurate ERA & EOB Posting

We handle Electronic Remittance Advices (ERAs) and Explanation of Benefits (EOBs) efficiently, ensuring proper payment details are processed.

helps with

  • Ensuring correct payment processing
  • Reducing administrative errors
  • Improving financial accuracy

Fast Denial Resolution

We identify and address denied claims within 48 hours, minimizing revenue loss and optimizing reimbursements. Our focus on legacy AR (Accounts Receivable) helps recover past-due payments.

helps with

  • Reducing revenue loss
  • Optimizing claim reimbursements
  • Recovering overdue payments

Proven System

Our robust, tested mechanism tackles challenges like backlogs, low revenue, and high denial rates.

helps with

  • Eliminating backlogs
  • Increasing revenue
  • Reducing claim denial rates

Collaborative Approach

We integrate seamlessly with other RCM processes for increased efficiency and consistent revenue flow.

helps with

  • Enhancing process efficiency
  • Ensuring consistent revenue
  • Facilitating smooth integration with existing systems

Find what’s Right for you

Discover how Synova can unlock value through our customized solutions across all stages of your healthcare journey. From optimizing operations to enhancing patient care, we're here to support your journey toward excellence in healthcare delivery.

Challenges We Solve

Choosing Account Receivable and Denial

High Aging AR

Outstanding claims become a burden when they age. Synova's proactive strategies, like monitoring AR reports and prioritizing follow-up, can reduce your days in AR and improve cash flow.

Denial Trends & Rejections

Coding errors, incomplete documentation, and eligibility issues lead to lost revenue. Synova's focus on accuracy and automation minimizes denials and delays.

Inaccurate Billing

Missing information, incorrect codes, and lack of supporting documentation cause denials and underpayments. Synova's training programs and EHR templates ensure proper documentation from the start.

Measurable Impact

Up to
80
%
reduction in TAT
Up to
70
%
denial recovery rate
Legacy AR less than
14
%
Customized Solutions

Designed for your Requirements

Our service solutions streamline operations, enhance patient engagement, and integrate advanced clinical support technologies, tailored to meet your specific needs with efficiency and excellence.

Maximize revenue

Effective AR management ensures timely and accurate collection of outstanding payments from payers and patients, reducing accounts receivable aging, accelerating cash flow, and maximizing revenue capture.

Reduced Denial Rates

Synova focuses on identifying denial trends, addressing root causes of denials, and implementing corrective actions to reduce denial rates, minimize revenue leakage, and improve claims reimbursement rates.

Improved Cash Flow and Financial Stability

Streamlined AR processes, proactive follow-up on unpaid claims, denial prevention strategies, and efficient claims resolution contribute to improved cash flow management, financial predictability, and stability for healthcare organizations.

how it works

How Synova Is Integrated with your Business

Synova integrates seamlessly into business operations by deploying advanced technologies and specialized expertise in healthcare operations management. This integration optimizes processes, enhances efficiency, and ensures compliance, supporting sustainable growth and improved patient care outcomes.

01

Accounts Receivable Monitoring and Follow-Up

Our system monitors outstanding claims from insurance and patients. We maintain detailed records, initiate follow-ups for overdue payments, and generate aging reports for clear visibility.

02

AI-assisted Denial Analysis

We leverage proprietary technology to analyze denied claims, highlighting trends and root causes like coding errors, missing information, or medical necessity issues.

03

Denial Resolution

We handle denied claims efficiently, correcting errors, providing additional documentation, filing appeals with insurers, or negotiating with payers to maximize your reimbursements.

04

Continuous Monitoring and Optimization

Our comprehensive reports detail denial trends, aging A/R, and revenue recovery efforts. We analyze data to identify areas for improvement in coding, documentation, and billing processes. This allows us to recommend and implement changes and training to minimize future denials and optimize your revenue cycle.

frequently asked questions

All your Doubts Resolved

What is accounts receivable (A/R) management?

Accounts receivable management involves tracking and monitoring all outstanding claims and payments due from insurance companies and patients. This includes maintaining records, following up on unpaid claims, generating aging reports, and implementing strategies to improve cash flow and reduce accounts receivable days.

What is the accounts receivable aging report?

An AR aging report categorizes outstanding receivables by the length of time they have been unpaid, helping identify overdue accounts.

Why is managing accounts receivable important?

Effective AR management ensures timely cash flow, reduces bad debt, and maintains the financial health of a healthcare organization.

How can healthcare providers reduce accounts receivable days?

Providers can reduce AR days by ensuring accurate billing, prompt claim submission, timely follow-up on unpaid claims, and effective patient billing practices.

How do you analyze claim denials?

We thoroughly review the Explanation of Benefits (EOB) or remittance advice from insurance companies to identify the root causes of denials. We categorize denials based on common reasons and identify patterns or trends to address systemic issues.

How does denial management affect accounts receivable?

Effective denial management reduces the number of unpaid claims, thereby improving the AR turnover and overall cash flow.

What steps do you take to resolve denied claims?

Depending on the denial reason, we take appropriate actions, such as correcting coding or billing errors and resubmitting claims, providing additional documentation or medical records to support the claim, filing formal appeals with insurance companies, or negotiating with payers to overturn denials.

How does technology assist in managing accounts receivable?

Synova uses proprietary tech that automates billing, tracks payments, generates reports, and facilitates follow-ups, improving efficiency and accuracy.

How do you improve the accounts receivable and denials management process?

We continuously analyze data and generate detailed reports on claim denials, aging accounts receivable, and revenue recovery. Based on these insights, we identify areas for improvement in coding, documentation, or billing processes. We then implement process changes, staff training, and ongoing monitoring to reduce future denials and optimize the revenue cycle.

Your Process, Our Technology

Building a Partnership grounded in trust and transparency.

When we build solutions with healthcare organizations like yours, it significantly reduces development and adoption times. We work as partners to solve problems and unlock tangible value.

Accelerated Outcomes
Partnering with Synova reduces development and adoption times, expediting the delivery of efficient revenue cycle solutions.
Value-driven Collaboration
By combining healthcare organizations’ patient-focused experience with Synova’s expertise, our partnership unlocks tangible value and fosters innovation.
Compliance Assurance
Collaborating with Synova ensures solutions are developed to meet industry standards and regulations, fostering trust and delivering high-quality, compliant outcomes.

Bring a change to your Healthcare Operations

A partnership with Synova gives you an inherent:

Adherence towards federal, state, and organizational compliances, as well as safeguarding patient data.

Sense of ownership and commitment towards providing value.

Focus on speed, accuracy, efficiency, and optimal outcomes.

Sense of security and transparency through periodic reporting and actionable insights.

Connect with our experts for a quick analysis and possibilities.

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