The Home Health Care Wire
Your source for CareVoyant and industry news.April 04, 2024
Reduce Unbilled Claims and Improve Cash Flow for Your Home Care Agency
While demand for Home Care Services continues to grow, increased regulatory requirements and a labor force shortage will pose many challenges to the cash flow and bottom line of Home Health Care Agencies. Authorization, Plan of Care, and Physician Order Management will lead to potential unbilled and denied claims. Home Care Agencies are forced to do more with less just to keep from falling behind in cash flow and the bottom line.
Home Health Care Agencies should stay ahead of these challenges with the right processes and tools to survive, thrive, and grow. Discover how minimizing unbilled claims can significantly enhance cash flow for your home care agency. Implement effective strategies today.
Routinely, payroll week is stressful for Home Care Agencies. Collecting accurate information from different staff, then processing payroll data accurately and in a timely manner is intricate, time-consuming, and challenging. Though collecting payroll information on time is often challenging, prompt and accurate payroll is one of the most important criteria to improving employee satisfaction and retention in Home Health Care.
Authorization Management plays an outsized role in Revenue Cycle Management. Effective and efficient authorization management will help home care agencies improve the bottom line by reducing non-billable shifts and payroll for non-billable shifts.
Eligibility verification is the first step in authorization management. Proactively managing expiring authorizations and getting new authorizations when coverage changes will keep authorization current. Integrating authorization with scheduling will help agencies reduce or eliminate providing services without authorization. Claims scrubbers can hold the claims back for the services provided during that authorization process.
Home Healthcare Industry News
The Operational Advantages Of Hiring Seniors To Provide Home Care
Through Seniors Helping Seniors Boston, Obeiter has employed more than 1,000 seniors. Over the years, he has seen the benefits of tapping into this underutilized labor pool.
Home Care Providers’ Creative Benefit Packages Are Paying Off
Aside from the possibility that caregivers might not immediately take advantage of a benefit, offering a great benefits package isn’t always easy for small businesses.
ABOUT CAREVOYANT
CareVoyant is a leading provider of cloud-based integrated enterprise-scale home health care software that can support all home-based services under ONE Software, ONE Patient, and ONE Employee, making it a Single System of Record. We support all home based services, including Home Care, Private Duty Nursing, Private Duty Non-Medical, Home and Community Based Services (HCBS), Home Health, Pediatric Home Care, and Outpatient Therapy at Home.
CareVoyant functions – Intake, Authorization Management, Scheduling, Clinical with Mobile options, eMAR/eTAR, Electronic Visit Verification (EVV), Billing/AR, Secure Messaging, Notification, Reporting, and Dashboards – streamline workflow, meet regulatory requirements, improve quality of care, optimize reimbursement, improve operational efficiency and agency bottom line.
For more information, please visit CareVoyant.com or call us at 1-888-463-6797.