Selecting a Home Health Billing Services or Hospice Billing Services Vendor: 4 Features to Look For

There are many reasons why your agency might choose to work with a home health billing services or
hospice billing services company. Perhaps you are looking to improve reimbursements or eliminate high
claim rejections. Maybe managing billing has become just too much work and your internal team is
struggling to handle the workload. Don’t worry, however. You’re not alone!

In a 2018 survey done by Black Book, 80% of hospitals said they were vetting or considering full revenue cycle management outsourcing by 2019. While this data relates to acute care providers, it helps to acknowledge that the healthcare industry as a whole is looking to home health billing services or
hospice billing services vendors for better ways to reduce costs, increase efficiencies, improve
reimbursement, and free up time to focus on providing quality patient care.

If you’re considering working with a third-party company for your billing (and we think you should), here
are some key features to consider:

What to Look for in a Home Health Billing Services or Hospice Billing Services Vendor
When evaluating vendors, look for these key features:

  1. Accurate billing with fast turnaround: Talk with potential companies about turnaround times
    and accuracy rates. Choose a company that consistently submits clean, accurate claims and does
    it quickly. This speeds up cash flow and reduces unpaid or denied claims.
  2. Billing expertise: Medical coding experience isn’t enough for successful home health or
    hospice billing. When considering a third party, make sure they have on-staff experts who have
    dedicated experience in home health and hospice billing. They should also know how to bill a
    variety of payers, including Medicare, Medicaid, and commercial insurance.
  3.  Proactive communication: The best home health billing companies and hospice billing
    companies will offer insight into your financial health. They should identify trends, offer advice,
    and discover lost revenue opportunities. They should proactively communicate with your team
    about what you’re doing well and where you could improve. Additionally, they should work with
    you to correct any documentation errors that may negatively affect reimbursement.
  4.  Billing recovery: Top home health billing companies and hospice billing companies will
    work with you to recover unpaid claims so you’re properly paid for services. Dedicated billing
    recovery experts will analyze your accounts receivables and identify unfiled and/or rejected
    claims. They should work quickly to resolve claims and offer advice on how to avoid problematic
    claims in the future. As a result, you revenue cycle will run more smoothly, so you can continue to
    reinvest in your agency and serve more patients.

Savvy agencies know that as the industry focuses more and more on value-based reimbursements, they
must adapt and change to succeed. What worked ten years ago likely doesn’t work now and won’t in the future. Working with a qualified home health billing services or hospice billing services company to
help you maintain a healthy revenue cycle is a key step towards a solid, profitable future.

The HEALTHCAREfirst Difference

HEALTHCAREfirst combines the resources and expertise needed to relieve the pressures of billing and
help agencies focus on patient care. Learn how our home health billing services and hospice billing
services can help you succeed.

The HEALTHCAREfirst Difference

Whether you bill Medicare, Medicaid, private insurance, or both, our team of home health billing experts has the experience needed to quickly and properly submit your claims. We can help you overcome common challenges and speed up your cash flow. To learn how your agency can leverage our revenue cycle management services to improve your bottom line, contact us today.

Contact us to learn more.

 

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