Payment Posting: Definition, Importance, and Role in Medical Billing

What is payment posting in medical billing?

Payment posting refers to the viewing of the payments and the financial picture of medical practice.

 It also refers to the logging of payments into the medical billing software.

 It provides a view on insurance payments in EOBs, payments from patients, and insurance checks from ERAs.

 Getting an overview of the financials is essential in determining revenue leaks and solve it immediately.

Here are six ways payment posting can make your billing process more efficient and ultimately increase revenue:

• EOB and ERA posting and reconcilement - ensure data from both EOB’s and ERA’s match payments.

• Handling denials - report and reroute denied claims to the appropriate coding and denial management team for rework and re-submission to payers in a timely manner.

• Patient responsibility - identify and move balances to the patient's responsibility helps to ensure faster patient billing.

• Write-offs and adjustments - process write-offs and adjustment and report any unusual contractual adjustments while processing payment.

• In person collection issues - provide inputs on trends in denials, non-covered services, prior authorizations, and deductibles or co-payment collection issues at the point of service.
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Type payment posting in medical billing is done in two ways which are as follows:

1. Manual Posting:

Manual posting is the kind of payment posting which is completed by the administrative staff that usually takes a longer time to fill the information. This posting comes with an increased risk of various errors like typos that delays the payment posting.

2. Auto Posting:

Auto payment posting is categorized as more of a software-driven approach that most industries prefer as their digital solutions while speeding up the medical billing process for a consistent revenue stream. However, few solo medical practitioners feel that manual payment posting provides them less control over their revenue-generated system.

Our Payment Posting Process

We process different types of remittances received with a high degree of accuracy, improved responsiveness, and follow the procedures defined by our clients. We perform the following services:

Patient Payments: We receive information on the point of service payments made by patients from our clients. These payments are made via cash/check/credit cards and could be on account of co-pays, deductibles, or non-covered services. Our team reviews the information received and adjusted the same against each patient account.

Insurance Posting: We process Insurance Payments in the following formats

Electronic Remittance Advisory. We receive high volume ERAs from payers and process them in batches by importing them into the client’s practice management system. Each batch run throws exceptions that fall out, and we correct the same along with verification of batch totals.

Manual Posting: Our clients often send us scanned EOBs. Each EOB batch is accessed via secure FTPs or through the EHR system and processed in line with the client’s business rules for adjustments, write-offs, and balance transfer to secondary insurance companies or the patients.

Denial Posting. Posting of claim denials is essential to get an accurate understanding of the customer’s A/R cycle. Denied claims are sent back by the payers in the form of ANSI codes for denials and sometimes with payer-specific medical coding guidelines. We understand the payer-specific denial codes for most payers and have expertise in understanding ANSI standard denial codes. We record each claim denial in the practice management system and take actions to re-bill to the secondary insurance company, transfer the balance to the patient, write-off the amount, or send the claim for reprocessing.