CASH FLOW
“ The chart below illustrates how we can help you increase your revenue, clear backlogs, reduce AR days, reduce administrative and training costs and thereby improve your profits”
- Challenge Encountered
- Impact on the Business
- Our Solutions
- Scheduling and Patient Registration
- Inaccurate or incomplete
- demographic and / or insurance
- information
- Increase in rework
- Poor outcomes
- Loss of Point Of Service (PoS collections
- 100% accuracy. Complete information
- Insurance and eligibility verification
- Proper prior-authorization taken
- Prompt PoS Collections
- Increased identification of Medicaid eligible
- Electronic verification
- Medical Coding
- Lack of experienced staff
- Up coding and down coding
- Not up to date with the latest guidelines
- High labor cost and high turn-over draining your resources
- Compliance risk
- Revenue loss
- Large number of CPCs (Certified Professional Coders)
- Accurate determination of diagnosis, procedure,and modifiers
- Maintain confidentiality and professionalism in all interactions
- Track coding issues by provider and perform necessary training to improve coding
- Up to date with CCI (Correct Coding Initiative) and medical necessity issues
- Prepare professional and technical coding audits for each provider.These audits will include benchmarking against industry standards
- Charge Entry
- Un posted Charges
- Duplicate Charges
- Charges for wrong / unlisted services
- Inefficient use of charge entry systems
- Revenue loss from late charges
- Duplicate charges increase AR
- High collections projection
- Rework to confirm unlisted services
- Ensure all rendered services are captured accurately and efficiently
- Regular audits / Post coding review
- Review CDM for potential compliance issues for billing and coding
- Review CDM for correctness of the Revenue Codes and CPT Codes for the services listed
- Review of current payor contracts
- Payment Posting
- Lack of reconciliation
- Lack of auditing
- High AR balance
- Loss of time in follow up
- Electronic posting
- Regular audits
- Insurance Follow-up
- Lack of proper follow up
- Lack of proper approach to ATB analysis
- Regular changes in Managed care contracts
- Ever changing re-imbursement pattern
- Low revenue
- High bad debt
- Increase in aging of AR
- Underpayments
- Loss of possible revenue
- Electronic posting
- Improved workflow process and increased productivity using AR Tracker tool
- Find global trends
- Appeal claims
- Reduce aged AR Encourage electronic billing and resolve timely filing
- Target payor specific denials
- Self Pay Follow-up
- Incorrect data collected in the front end
- Non-identification of Non covered services
- Irate patients
- Tracing patients
- Low patient contacts
- High bad debts
- Poor customer service
- Patient accounts representatives with extensive experience
- Effective handling of all stalls and objections
- Trained and courteous patient accounts representatives
- Customized letters and follow up process
- HIPAA compliant
- Use of Predictive Dialer for voice based services