Don't Leave Money On The Table

<p>With his company Comprehensive A/R Solutions, Israel has seen all the ways that inattention to a billing team can wreak havoc on a facility.</p><p> </p><p>In a difficult industry, nursing home operators must maximize every penny they receive. Despite this necessity, facilities typically have a lot of bad debt left on the table, often totaling to hundreds of dollars of uncollected receivables.</p><p> </p><p>Rather than spending time and effort searching for ways to receive reimbursement for this bad debt, operators should instead focus on decreasing it as much as possible.</p><p> </p><p>Due to typical billing cycles and the fact that operators do not have time to manage A/R, billing is often only done reactively and problems encountered only after the window where they could have been resolved.</p><p> </p><p>In order to ensure that there is no money left on the table, operators need to conduct A/R proactively rather than reactively.</p><p> </p><p>This can be accomplished firstly by making sure one’s billing team isn’t understaffed. With all the nitty gritty work that it involves, A/R is certainly not something that can be done by a receptionist between shifts.</p><p> </p><p>It is also essential that the team center around an expert experienced in A/R and the ever changing trends of insurance and medicaid. This person should work proactively by planning and implementing processes to identify and mitigate these changes.</p><p> </p><p>They should also be assigned to watch every patient’s payer source from the point of admission to discharge to detect any changes or inconsistencies before they become a real problem.</p><p> </p><p><strong>FOLLOW  ISRAEL</strong></p><ul><li><a href="https://comphcs.com/" target="_blank">Website </a></li><li><a href="israelr@comphcs.com" target="_blank">Email: israelr@comphcs.com</a></li><li><strong>Toll Free Phone Number: (877) 942-4558</strong></li></ul><p> </p><p><strong>RELATED EPISODES </strong></p><ul><li><a href="https://the-nursing-home-podcast.simplecast.com/episodes/dont-you