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Richter ShareSource Blog

Tips for Reconciling Accounts Receivable to the General Ledger

Posted by Sandra Reutter, Senior Consultant on Jul 29, 2016 9:52:48 AM

The process of reconciling individual residents’ account balances with the general ledger ensures accuracy of the balance sheet assets. The timing of receivables is significant to the facilities’ cash flow.

The reconciliation should be done as part of the month-end closing process.  When a formal reconciliation process is followed then proper documentation will be available for an audit, if needed. If differences are found between the Accounts Receivable (AR) Detailed Aging and the General Ledger (GL), then adjustments or corrections can be made prior to closing the period.

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Topics: Accounting, Revenue Cycle Management, Implementation, Financial Consulting

Trends in Treatment of Chronic Pain

Posted by Jacklyn Brown, RN on Jul 28, 2016 12:42:08 PM

America is embroiled in an opioid epidemic.  More Americans are dying each year from overdoses of prescription opioids than all illicit (non-prescription) drugs combined.  Opioid addiction affects not only those suffering with the addiction, but the people who surround the addict as well.  On any given day, newspapers and news channels have one or more stories about opioids or issues connected to opioids. Some of the most serious problems our society is grappling with are related to the opioid epidemic.  

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Topics: Clinical Consulting

Healthcare Best Practices for Managing Unpaid Private Charges

Posted by Lauren Gurcze on Jul 26, 2016 10:08:52 AM

Collection of private pay monies can be the most difficult part of the management of accounts receivable. Most business offices and billers don’t have a problem with billing claims to Medicare, Medicaid or Commercial Insurance plans as they are faceless entities. Collecting money from residents and families that you see every day or speak to on the phone can be very uncomfortable. It is commonly a payor that gets pushed aside as far as collections go because of the discomfort. However, when approached with the right attitude and process, any business office can succeed at maintaining clean private receivables.

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Topics: Medicaid Consulting, Accounting, Revenue Cycle Management, Financial Consulting

Tips for Assembling a Skilled Nursing Facility (SNF) Admissions Packet

Posted by Carolyn Lookabill V.P./COO on Jul 22, 2016 9:14:58 AM

The SNF admissions process includes many steps and happens at a point in time that can be very emotionally charged for all involved.  It can be a time of sensory overload for the new resident and family member.  A lot of information is exchanged and it is critical that the information shared by the SNF be presented in a clear and concise manner.  Think about offering information in three categories:

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Topics: Clinical Consulting

Establishing a Process to Address Medicare Overpayments Final Rule

Posted by Maureen Hedrick on Jul 21, 2016 9:47:38 AM

In a recent blog, I outlined the components of what makes up Policy & Procedure (P&P) – the WHY, WHEN, WHO, WHERE & HOW that is the backbone of good process. P&P need not be overly complicated or detailed – in fact, if you don’t “Keep it Simple” you are creating a monster. They say that the devil is in the details, and in this case that is true. Overthinking it, and adding unnecessary layers to your process will make it all too hard to comply with. If that is the case, and you make it impossible to meet your internal process points, you may truly be “hoisted by your own petard” (arcane reference acknowledged, but in plain English – “you have no one to blame but yourself)”.  Do not err on the side of making your process too hard to follow.

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Topics: Medicaid Consulting, Clinical Consulting, Revenue Cycle Management, Financial Consulting

Overcoming Communication Challenges in Skilled Nursing Facilities (SNFs)

Posted by Mary Danko- Revenue Cycle Manager on Jul 19, 2016 10:24:43 AM

Of course all disciplines in the SNF should be telling the same story regarding a resident’s needs and care provided.  This is documentation and should remain constant across all shifts.  But Clinical and Care documentation is different than Communication.

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Topics: Clinical Consulting

Managing Medicaid Application Process for Skilled Nursing Facilities (SNFs)

Posted by Carolyn Lookabill V.P./COO on Jul 15, 2016 10:44:21 AM

Remember that the Medicaid application process is just that….a process. It is important for any SNF provider to establish and implement a Medicaid application process that incorporates the following:

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Topics: Medicaid Consulting, Clinical Consulting, Revenue Cycle Management

Electronic Visit Verification Best Practices for Home Healthcare Providers

Posted by Donna Berry on Jul 14, 2016 1:58:03 PM

Is there a home healthcare provider who has not had to deal with that employee who had his/her client sign a week’s worth of documentation for services that they did not provide? Usually the agency does not discover that fraud was committed by an employee until weeks, months or even years later, often after the services have already been billed. Very few agencies knowingly commit fraud but unfortunately it happens with service provision that relies solely on paper documentation. It is because of incidences like this that the Affordable Care Act included mandates for states to take measures to reduce fraud and overpayments by focusing on prevention rather than the traditional “pay and chase” model of catching those who knowingly or unknowingly commit fraud.  With this goal in mind, many states implemented mandatory electronic visit verification (EVV). If you are in a state that does not yet have mandatory EVV, don’t worry because it will be coming soon!

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Topics: Home Health & Hospice

Understanding Root Behavioral Causes in Dementia Patients Before Medicating

The use of antipsychotics in geriatrics has been under scrutiny from the Centers for Medicare and Medicaid Services (CMS) for several years now. The use of antipsychotics in older adults poses a myriad of complications and side effects. Side effects include increased incontinence, weight loss, lethargy, confusion and increased incidence of falls. While antipsychotics can be used for the treatment of mental and behavioral issues, antipsychotics should always be the absolute last resort in the geriatric population.

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Topics: Clinical Consulting

Tips for Boosting Efficiency in SNF and LTPAC Facilities

Posted by Jillian Lybarger- Staff Accountant on Jul 8, 2016 10:42:15 AM

Don’t bite off more than you can chew...

It seems like Thanksgiving is one of those days when it is okay to bite off more than you can chew. Literally. But what happens after that? There is that sense of fullness, heaviness, inability to be able to even move. It is not a good feeling. Do you bite off more than you can chew in your life? 

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Topics: Clinical Consulting, Financial Consulting

What CPAs Need to Know About Revenue Cycle Management (RCM)

Posted by Liz Lane, CPA, Senior Accountant on Jul 7, 2016 10:31:14 AM

When it comes to Revenue Cycle Management, most accountants focus on the end result, reflected in the monthly financials. It is assumed or even taken for granted that there is a process in place for the front end, the collection of revenue. Revenue Cycle Management or RCM is indeed a process. Billing is a big part of the RCM process for LTPAC providers. Although we all know that collection of revenue is a key area when it comes to the financial statements, the focus is directed more on how a company performed during that time period, rather than how the numbers were generated.

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Topics: Accounting, Revenue Cycle Management, Financial Consulting

What is Program for Evaluating Payment Patterns Electronic Report (PEPPER) - and How Can Health Care Facilities Use It

Program for Evaluating Payment Patterns Electronic Report (PEPPER)

  • Summarizes the Medicare claims data statistics for one provider in areas (target areas) that may be at risk for improper Medicare payments.
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Topics: Medicaid Consulting, Clinical Consulting, Revenue Cycle Management, Financial Consulting