Payment posting is a crucial component of the healthcare revenue cycle management process. It involves recording the payments received from insurance companies and patients against the claims submitted by healthcare providers. Accurate payment posting is essential to maintaining up-to-date financial records, identifying discrepancies, and ensuring timely resolution of any payment-related issues. At Thrive Technologies, our payment posting services are designed to ensure that all payments, adjustments, and denials are accurately applied, helping healthcare providers maintain a clear picture of their financial standing and improve revenue cycle efficiency.
We receive payment information from various sources, including Electronic Remittance Advice (ERA), Explanation of Benefits (EOB), and patient payments. This information is gathered from clearinghouses, payer portals, or directly from the provider’s office.
We provide healthcare providers with detailed reports and analytics on payments posted. These reports help in understanding the financial health of the practice and provide insights into payment trends, payer performance, and patient balances.
Our team posts the payments to the appropriate patient accounts, ensuring that the payment details, adjustments, and any denials are accurately applied. We reconcile posted payments with bank deposits and payment reports to ensure the financial records are accurate.
After payments are posted, we generate customized reports that provide insights into the payments received, adjustments made, and any outstanding balances. These reports help providers monitor their financial performance and address any issues related to payments.
