The Insurance Claim Aging Report is the story of every insurance billing department. This single report will shine the light on a number of different factors that may be plaguing your insurance billing. From the amount of time it takes insurance companies to pay to the estimated revenue you have tied up in outstanding insurance claims, you can quickly assess where your outstanding revenue lives and when you might receive your payment.

How To

  1. From the Reports screen, select Account Reports.
  2. Select Insurance Claim Aging Report.
  3. Filter your results by selecting a range of patients, insurance carriers and primary providers.
  4. Choose your minimum days past due. This option will provide claims that were sent prior to the number of days past due. HINT: If you have never looked at this report before, start with Over 90 days past due and work your way to Over 0/30.

Enhance Practice Processes + Improve Practice Processes = Practice Success!

How to Use an Insurance Aging Report

  1. Breaking Down the Insurance Aging Report At first glance, the Insurance Aging Report can feel a little overwhelming.  Take a moment to break down what information is being provided in the report.  The column headers have been color-matched with the report data above.
  2. Definition of Colors The Insurance Aging Report compiles the most basic claim data required to contact an insurance company to check claim status.  Finding this basic claim data in one place means you only look in one place to see this information!a. Insurance Company Information – The name, phone number and group number for the insurance policy are provided in yellow above.
    b. Important Dates – The date of claim creation along with tracer, on hold and resent dates are displayed in orange. You will find patient name and date of birth here.
    c. Subscriber Info, Estimate & Aging – Displayed in blue you see the subscriber name and ID number followed by the estimated insurance payment and aged claim balances.
  3. Aged Claim Balances are a breakdown of claim totals shown as CURRENT (0-30), 31-60, 61-90 and OVER 90 day time scales. The claim balance is defined as the amount of production (total of all procedure fees) attached to the claim.  The aged claim balance timing is calculated as a number of days from the date the claim was first sent.
  1. Insurance Estimate provides you with an estimate of outstanding insurance payments. This estimate is calculated for you by Easy Dental, using the same methods (coverage table, payment table, insurance override estimate) to determine a pre-treatment estimate.
  1. Grand Totals for insurance estimates and aged claim balances are provided at the end of the report. You should take a close look at this table.  What is the total outstanding for your 90 day claims telling you?

Every year insurance companies modify policies, benefit profiles and claim deadlines.  I am seeing a growing trend with insurance companies reducing the timely filing deadline.  Some insurance plans now require that you submit an initial claim within 30-180 from date of service in order for that claim to be considered for payment.  Many plans still allow claim submission up to 1 year from date of service.  Regardless of timely filing regulations, it is important to make every effort to collect on revenue owed to the practice.  The Insurance Aging Report will guide your insurance billing team to improving your collection processes.

Enhance Practice Processes + Improve Practice Processes = Practice Success!

Go back to blog homepage.