Industry data show that the median multi‑specialty practice still carries 13.5 % of total A/R past 120 days—usually because of claim denials, eligibility errors, or slow payer follow‑up. Finnastra applies a 1,000‑rule pre‑bill scrub and daily worklists to cut 120‑day A/R to under 6 %.
When billing teams are shortstaffed, backlogs grow and denials linger; 56 % of practices reported increased A/R days in 2024 because they couldn’t keep up. Finnastra’s dedicated followup specialists and automated reminders ensure no claim or statement is left untouched.
Nearly 7 in 10 medical groups saw denials rise in 2023, with an average 17 % jump—clogging A/R until each denial is corrected and refiled. Finnastra classifies denials by root cause, fixes them within 48 hours, and feeds the lessons back into our edits engine to prevent repeats.
With deductibles now commonly $1,400–$8,700, many patients take 90–120 days to pay or end up in collections. Finnastra sends sameday estatements, offers online and cardonfile options, and establishes textbased payment plans to accelerate patient cash.
Most healthy practices aim for < 35 days in A/R. Our clients typically see a 15‑ to 20‑day reduction within the first 90 days of engagement through proactive follow‑up, denial prevention, and weekly A/R cleanup sprints.
Yes—practices that automate collections and payment posting cut Days Sales Outstanding by up to 30 % compared with manual workflows. Finnastra’s robotic worklists, autoposting, and AIdriven payer status checks keep your cash moving.
Our variance engine compares every remit against contracted rates and flags discrepancies instantly. We appeal under‑payments within the payer’s timely‑filing window, so you recover every allowable dollar.
You’ll receive a real‑time dashboard showing Days in A/R (total and by aging bucket), denial rate, recovery rate on 90‑day+ claims, credit‑balance backlog, and net collection ratio, so you can monitor progress at a glance.
In‑house teams fight turnover, training, and software expenses. Finnastra delivers experienced A/R analysts, automated tooling, and payer‑specific expertise for a single performance‑based fee—often 30–40 % less than internal cost‑to‑collect.
Absolutely. We manage insurance aging, payment variance, secondary claims, patient statements,
and early‑out collections, giving you an end‑to‑end solution that frees staff to focus on patient care
and front‑office service.
