Healthcare Reimbursement Simplifield
Improved Cashflow - Maximized Revenue
Year: 2020
An important distinction when it comes to medical billing errors is the difference between a rejected claim and a denied claim. A rejected claim is one caused by a billing error which may be the result of a clerical error, or a mismatched procedure and ICD codes. These claims can then be corrected and resubmitted. Of course, having to correct and resubmit claims not only slows down the revenue cycle and, ultimately, cash flow, it also costs…
Read MoreThe home health profession is emotionally, physically and mentally demanding—we don’t need to tell you that! However, like many aspects of health care, those working to support patients whether directly or indirectly in administrative roles are at high risk of burnout. While you may think career-related burnout is “no big deal” it can have a major impact on your mental health and your quality of life. Burnout is also a serious problem for home health employers because…
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Given the current economic and regulatory environment for home health agencies, many have been largely driven by Medicare payments, making agencies hesitant to turn to managed care and commercial insurance to drive additional revenue. The process to seek and secure payment outside of traditional channels can be overwhelming. However, considering that some agencies increase revenue by 20% to 30% when introducing alternative payment sources, it’s worth considering as Medicare increases regulations and compliance measures. As cash flow…
Read MoreAccording to recent CMS.gov data, 10% of all home health care claims are rejected. With the average claim being approximately $2000, you can see how the cost of not being able to capture this portion of your total claims can quickly add up. In addition to the money you can recoup by having fewer claims rejected when you work with Dominion Revenue Services for outsourced billing, there’s another part of the savings equation to consider: the money…
Read MoreCOVID-19 has had a tremendous impact on home health care agencies, hitting their cash flow very hard. If your agency is struggling with declining revenue and worried about paying its bills—now is the time to talk to us about outsourced medical billing and revenue recovery services. Before you start thinking, “I can’t afford to pay someone to do medical billing and revenue recovery work for our agency.” Rest assured, you only pay for our services if you…
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COVID-19 continues to bring enormous changes to the home health care profession. On a daily basis, changes from CMS and other regulatory bodies are forcing non-acute healthcare providers to change the way they operate. This, in combination with changes in patient care demands and overall facility census, has a significant impact on billing practices and revenue cycles…it all leads to stress on your bottom line. Now is the time to focus on patient care and the health…
Read MoreA steady stream of revenue is critical for home health agencies, otherwise their operations will not be able to function optimally. If revenue is reduced significantly for any period of time, it puts significant stress on the agency’s bottom line. Here are just a few of the best practices and smart strategies for keeping your cash flowing in light of the changes from CMS covered in our COVID-19 Cash Flow Guide for Home Health Care Providers. Keep in…
Read MoreThe business of providing healthcare is more complex than ever—which means the business of managing revenue cycle processes is, too. Whether you are an administrator of established home health agency or hospice facility or a new visiting physician or nurse practitioner starting their own practice, you may be feeling overwhelmed at the time, money and effort it takes to keep up to date with your billing, follow up on claim denials and the other tasks involved in…
Read MoreHow do I know when Choice Review will affect my agency? Since CMS is rolling out Choice Review with a series of demonstrations at different times in different states, the best way to know when your agency may be affected is by checking the CMS website. The CMS is generally providing 60 days advance notice. Choice Review currently applies to home health agencies (HHAs) that operate in and render services to Medicare fee-for-service beneficiaries in Illinois, Ohio, North Carolina,…
Read MoreNow that we’re about six weeks into the new Patient-Driven Groupings Model (PDGM) we’re starting to hear from many home health agencies about the challenges of the associated changes and the potential impact to their bottom line. Slower reimbursement cycles with PDGM are something that are likely to cause a cash crunch for many agencies very soon. This is why revenue recovery of existing claims is so important right now! Did you know that Medicare will reimburse…
Read MoreHealthcare Reimbursement Simplified
Improved Cashflow - Maximized Revenue
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