Improving Your Accounts Receivable and

Protecting Your Cash

Posting EOB’s

The timely posting of all EOBs, including co-pays, co-insurance, deductibles and the appropriate contractual adjustment, is essential to keeping your accounts receivable up-to-date and accurate.  Today, more than ever, you and your staff need to know which, if any, of your claims have not been paid and/or if any claims were incorrectly adjudicated by the payor. 

We would like to remind you of the importance of timely posting all EOB’s received from CNC (as well as those received from any insurer).  Please be sure that all “CNC” checks are properly posted to your patient’s accounts before you submit a request to check the status of a claim.  Too often CA’s spend needless time contacting payors and CNC to check on the status of a claim, only to discover that the claim was already paid.  The timely and accurate posting of all EOBs, including payments, deductibles, and co-pays will save your staff a great deal of time and will provide you with more accurate and up-to-date accounts receivable information. 

Provider Checks

Do you know the amount of each CNC check that you receive?  CNC issues our provider checks on the 10th, 20th and 30th of each month, (or the next business day). 

In the last 5 months, CNC has discovered over $90,000 in CNC checks that were never cashed/deposited by our providers.  CNC found that in most cases, the provider was unaware that the CNC check had been sent and often was unable to locate the check or the EOBs that were included in the check packets. All of these providers had received previous checks from CNC as well as subsequent check packets.  (When applicable, CNC immediately issued “stop payment” directives on the check and promptly reissued the check to the provider.)

Here are two examples of what can happen if you loose track of your CNC checks:

One provider received nine checks totaling more than $16,000 (over a 5 month period); and had no idea that he had been paid these monies.  After being contacted by CNC, the provider located all of the checks in his office.  The provider was unaware that these large checks had been delivered to his office, and also was unaware that payments had been received but had not been posted to the patient’s accounts.

Another CNC provider contacted us for assistance with his high accounts receivable.  CNC provided him with a list of the checks that had been issued and also confirmed that these checks had been cashed.  After providing this doctor with copies of the above information, he discovered that one of his employees had signed and deposited the checks into her own personal bank account.   While the provider immediately contacted the authorities, he informed us that this employee no longer works for him, has since closed her bank account and left the state.

CNC strongly recommends that ALL CNC NETWORK PROVIDERS take the time to personally: