What is an Accounts Receivable Aging Report?

Accounts Receivable Aging Report is an asset to your dental practice. It helps you in understanding what’s going on in your practice. An efficient report system helps you in understanding whether your practice is making money or not. Out of the many reports that are sent on a monthly basis, Accounts Receivable Aging report helps in understanding how long insurance claims and patient balances have been outstanding. This is displayed both in dollar terms and as a percentage of 120 days. The lower the percentage, the better the results; which indicate that you are getting paid in a timely manner.

An aging report gives you an illustration of the money that is outstanding to your practice. It is segregated in such a way that you can review all accounts that are due and past due. You can also see which accounts are 30 days late, 60 days late and 90 days late. As the name suggests Accounts Receivable Aging report, includes the age of outstanding claims. The standard categories for this kind of report are:

• Current – due immediately
• 1 – 30 days – due within the next 30 days
• 31-60 days – a month overdue
• 61 – 90 days – two months overdue
• 91 days and above – more than two months overdue

The major objective of receivables report is to help the dental practice identify what receivables need urgent attention. If Account Receivables is not managed properly, it results in reduced cash flow and increased collection costs. The Accounts Receivables Aging Report breaks down the number of claims based on how long they have been outstanding, with the objective of getting them reimbursed within 45 days.

At Capline, our competent professionals review each claim in each payor to make sure proper reimbursement is done. Once the claims are analyzed, steps are initiated based on the following:

• Claims are checked for important documents like referral, authorization, etc. 
• Quality audits are done at each step to make sure that accounts are closely monitored. 
• AR report is tracked and documented properly. 
• With the help of reports, you can track monthly collection and accounts receivable outstanding. 

As a part of our dental billing services, we offer a variety of customized reports for your practice. Our reports are sent on a monthly basis. So, if you need help with analysis, schedule a call with us. Our experts will scrutinize your practice to identify the loopholes. We will get you the peace of mind by offering expert assistance and taking care of your entire billing process easily.