Does your home health agency or hospice have a backlog of unpaid claims with missing or improper documentation?
Aging claims in Accounts Receivable are the bane of home health and hospice. Old claims tie up reimbursement the organization is owed for services provided in good faith. And with every turn of the calendar page, the risk increases that the time for payment will expire and the agency will never see that payment.
In financially healthy billing departments, claims older than 60 to 90 days account for less than 20 percent of the total AR, according to SimiTree’s revenue cycle experts.
Prioritizing aging claims before they expire is one of two ways agencies can jumpstart cash flow in the new year, they say.
Coding & OASIS accuracy
“Leaving money on the table due to inaccurate coding is another area where agencies hurt themselves by not being fully reimbursed for the work that they do,” said SimiTree Principal J'non Griffin, SVP, Coding & OASIS. “And in 2023, agencies aren’t going to be able to afford mistakes.”
Griffin and the revenue cycle consultants at SimiTree are advising organizations to insulate themselves against leaner margins in 2023 with new attention to coding and billing accuracy.
“This is the time to have the right partner working with you,” she said.
Learn more about choosing the right outsourcing provider here.
SimiTree can help
Billing and collections experts at SimiTree have the industry expertise and training to make quick work of Accounts Receivable – and our proprietary collections tool will quickly identify the upstream revenue cycle obstacles slowing down the claims process, so that you can take corrective action to get paid faster.
Our coding and OASIS reviewers are topnotch, with the expertise required to navigate the more complex OASIS E being implemented in 2023 as well as important OASIS measures which count toward performance scores under Value Based Purchasing.
SimiTree knowledgeable teams of coders and billers work hand in hand with industry-leading consultants to provide knowledgeable services.
Use the form below to reach out to us to learn more about our outsourced services, and start the new year with a trusted partner at your side.