Effective Revenue Cycle Management for Home Care
Home Health & Hospice Billing.
Revenue Cycle Management (RCM) consists of the steps required in claims processing to ensure you are paid for the services you provide. A solid RCM process will allow you to achieve lower DSO, lower denial rates and better cash flow.
What are some key elements to good RCM?
The RCM process starts at intake. Collecting good insurance information and verifying insurance prior to the first visit will help prevent lost revenue due to inaccurate insurance information. It is equally important to build the checking of eligibility into your intake process. By checking eligibility on the front end, you will see a significant drop in your denial rate.
The process of gathering pertinent information at intake will allow claims to be released in billing much sooner and help decrease DSO. The result of a good revenue cycle management process will allow the billing departments to focus on a lower number of problem claims ensuring a good payment process.
As Home Health agencies continue to experience growing financial pressures, you need a proven partner to help manage your revenue cycle, providing actionable insights that will allow you to make better and smarter business decisions.
HEALTHCAREfirst offers a comprehensive outsourced billing services program, allowing you to place your billing into the hands of experts, while receiving Web-based analysis and reporting of your claims data. For more information, click here.