Payment Posting

TriumpHealth offers Payment Posting & Account Reconciliation services to ensure accurate and timely posting of payments received from insurance companies, patients, and third-party payers.
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MEDICAL BILLING & REVENUE CYCLE MANAGEMENT

Payment Posting

Lost claim remittances and the time-consuming process of manually posting payments leads to costly delays, increased AR days, and unrealized revenue. TriumpHealth works to get the electronic remittances set-up with majority of your payers right upon onboarding with us. This helps in avoiding the delay associated with receipt and posting of payments manually, resulting in increased velocity of payments and more accurate reconciliation of patient accounts.

TriumpHealth payment posting team manages receiving, posting and reconciling payments. We never post payments in the billing system prior to receiving money in the bank. All paper-based payer correspondence is scanned, saved, and indexed in a centralized and HIPAA compliant online portal. This portal also allows you to upload any relevant documents e.g. charge tickets, EOB’s, payer communication etc. in a secure manner. You have real-time, password protected access to the information stored on the online portal.

Frequently Asked Questions

What is payment posting in healthcare, and how does it contribute to the revenue cycle management process?

Payment posting in healthcare involves the recording and reconciliation of payments received for medical services rendered. It contributes to the revenue cycle management process by ensuring that payments are accurately recorded, applied to patient accounts, and reconciled with billed services, ultimately optimizing cash flow for the medical practice.

How do you ensure accuracy and efficiency in the payment posting process for medical practices?

Accuracy and efficiency in the payment posting process for medical practices are ensured through dedicated staff training, utilization of automated payment posting systems, double-checking entries for accuracy, and regular reconciliation with financial records. Efficiency is improved by streamlining workflows and utilizing electronic payment processing methods.

What types of payments are typically processed during payment posting, and how do you handle different payment methods (e.g., insurance, patient payments)?

Various types of payments are typically processed during payment posting, including insurance payments, patient copayments, deductibles, and self-payments. Different payment methods, such as electronic funds transfer (EFT), credit/debit cards, checks, and online payments, are handled according to established procedures for each payment type.

Can you explain the importance of reconciliation in payment posting and how it helps prevent financial discrepancies?

Reconciliation in payment posting is important as it involves matching payments received with billed services, verifying accuracy, and identifying any discrepancies or errors. Reconciliation helps prevent financial discrepancies, ensures proper accounting of revenue, and maintains the integrity of financial records for the medical practice.

How do you handle denials, underpayments, or overpayments during the payment posting process, and what steps are taken to resolve these issues?

Denials, underpayments, or overpayments during the payment posting process are handled by investigating the root causes, appealing unjustified denials or underpayments, and refunding overpayments promptly. Steps taken to resolve these issues include communication with payers or patients, resubmitting corrected claims, and implementing corrective actions to prevent future occurrences. It is crucial to address these issues promptly to maintain revenue integrity and financial stability for the medical practice.

Our Process

1

Receipt of Payments

Receive and document payments from insurance companies, patients, or other third-party payers, ensuring accurate recording of payment amounts and dates.

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2

Matching Payments to Claims

Match received payments to corresponding claims or invoices, verifying that each payment is correctly applied to the appropriate patient account and claim.

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3

Adjustment Processing

Process any adjustments or write-offs as necessary, including contractual adjustments, co-payments, deductibles, and denied claim adjustments, ensuring alignment with payer contracts and billing guidelines.

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4

Reconciliation and Reporting

Reconcile payment postings with accounting records to ensure accuracy and completeness, generating reports to track payment trends, outstanding balances, and revenue received for financial analysis and reporting purposes.

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Benefits of Working with TriumpHealth

Payment Posting

Faster Velocity of Payments

We batch process payer ERA’s.

Effective Management of Secondary Payments

We post payments without ERA’s and transfer balances to secondary insurances.

Faster Denial Follow-up and Management

We proactively status full and partial denials at payment posting stage.

Point of Service Payment Reconciliation

Our team completes faster and more accurate posting and reconciliation of cash, check, credit card payments.

Top Rated by Healthcare Organizations

TriumpHealth has helped us with MU 
and PQRS since 2013, and now MIPS. TriumpHealth has worked well for us because of their systems and compliance knowledge.
Having TriumpHealth support us in these efforts keeps my office staff focused on the patients. For any clinic stuck using Allscripts, 
TriumpHealth can help.
Joy Schwartz, Office Manager Atlantic Surgical Group (Gastroenterology)
TriumpHealth has helped us with MU 
and PQRS since 2013, and now MIPS. TriumpHealth has worked well for us because of their systems and compliance knowledge.
Having TriumpHealth support us in these efforts keeps my office staff focused on the patients. For any clinic stuck using Allscripts, 
TriumpHealth can help.
Joy Schwartz, Office Manager Atlantic Surgical Group (Gastroenterology)
TriumpHealth has helped us with MU 
and PQRS since 2013, and now MIPS. TriumpHealth has worked well for us because of their systems and compliance knowledge.
Having TriumpHealth support us in these efforts keeps my office staff focused on the patients. For any clinic stuck using Allscripts, 
TriumpHealth can help.
Joy Schwartz, Office Manager Atlantic Surgical Group (Gastroenterology)

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We will help you achieve financial and regulatory compliance goals resulting in improved patient outcomes and increased revenue.