Billing > Billing
Average Collection Turnaround Time
ASAP:
We just set up a billing service business and we are currently working on getting a new client. The prospective client claims their average receivable age is 90 days. From what I have read in forums, blogs and other internet articles, 90 days seems to be too long. We are looking to set benchmarks that we can share with the client and also benchmark for us to use in measuring our own performance.
What is the average AR age for private insurance, Medicare and Medicaid claims. Our prospective clients are based in California (Medi-Cal) and New Jersey (Medicaid).
Any help will be greatly appreciated.
kristin:
I receive payment in 30 days or less on clean claims with Medicare, Medicaid, and commercial payers. 90 days is way too long.
ASAP:
We think so too. Thank you
jennifer8055:
If we have a claim that is unpaid over 90 days old - it's usually an appealed claim or it's being reviewed for some reason. The majority of our claims are paid within 14-21 days - we sent 99% of our claims electronically.
Good Luck :)
Jennifer
PMRNC:
Same here, actually I can run report and our average is about 14-21 as well. Follow-up is set at 30 days.
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