Billing, AR, and Revenue Cycle Management
With falling reimbursement rates, the rollout of PDGM, and increased compliance, Home Health Care Agencies are under pressure to do more with less. Effective Revenue Cycle Management is very critical to home care agency operations. Without an efficient process for billing and collections, it is challenging to maintain the quality of care, patient satisfaction, and employee satisfaction.
Revenue Cycle Management starts at intake and continues through authorization, scheduling, billing, and collections. A billing engine that can handle disparate billing requirements of payers without manual workarounds will significantly improve the efficiency of the billing and collections process. A configurable claims scrubber ensures timely and clean claims submission, leading to timely reimbursement.
Integrated authorization management, scheduling, and billing process can help home care agencies to eliminate scheduling outside authorization, thus reducing non-billable services.
An integrated software platform that covers all processes, including intake, authorization management, scheduling, billing, and collections, and provides features to manage the revenue cycle requirements of these processes is a must to improve the operational efficiency of home care agency operations.
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CareVoyant Software’s Features for Home Healthcare Billing, AR, and Revenue Cycle Management
Manage disparate billing requirements for Medicaid, Medicaid Waiver, Insurance and Private Pay
The integrated eligibility verification process reduces claim denials
Ability to configure claim formats to meet unique billing requirements and reduce manual effort.
Create claims in 1500, UB04, or Paper Invoice format and send patient statements
Ability to send invoices to payers, like community waiver programs, who do not accept standard claim formats (1500 – UB04)
Ability to send statements to patients for private pay patients or co-insurance
Built-in, configurable claim scrubber with the ability to customize validations by the payer and improve clean claim submissions
Ability to look back to make sure authorizations and documentations are in place and prevent claims from being sent out without authorizations and documentation.
Intake exception reports listing missing intake information needed for claims
Report that will list admissions and authorizations without any schedules
List of schedules without corresponding charges
List of charges where corresponding claims are available
Pre claim validation reports based on the claim
Robust financial reporting and dashboards to analyze financial performance
