<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=209517142775807&amp;ev=PageView&amp;noscript=1"> Richter ShareSource Blog
resources-header-1

Richter ShareSource Blog

Navigating COVID-19 – Four Strategies for Home Health and Hospice Agencies

Posted by Deborah Collum on May 21, 2020 12:41:26 PM

For owners of home health and hospice organizations of all sizes and scopes, the coronavirus (COVID-19) pandemic has caused financial and operational disruptions that to this day leave many operators facing dire prospects.

The services your home health or hospice organization provides are vital to the health and well-being of patients. Yet, to continue delivering services, you must remain financially and operationally viable, today and tomorrow. COVID-19 has made that unusually difficult, particularly for home health agencies, since many skilled staff aren’t able to conduct site visits, for a number of reasons. The primary consequences of this are:

  • Home health agencies are now struggling to meet their low utilization payment adjustment (LUPA) thresholds as per physician orders;
  • Revenues are down and could continue to be so long as site visits aren’t being conducted; and
  • Agencies could be risking the loss of recertifications or new admissions they otherwise could receive under “normal” (i.e., non-COVID-19) circumstances.
Read More

Topics: COVID-19, hospice consulting firms, home health revenue cycle managemet, home health consulting, home health care consultants, hospice consulting services

Choosing a Medicaid Consulting Firm for Your Long-Term Post-Acute Care Facility

Posted by Maureen Hedrick on May 20, 2020 4:31:23 PM

 

Market opportunities continue to expand for skilled nursing facilities (SNFs), senior care facilities and long-term care facilities around the U.S. as more and more baby boomers seek residence and care. Yet, increasing numbers of residents means added pressure to meet Medicaid challenges—particularly as Medicaid rules and regulations continually change and evolve.

In order to adequately serve residents and help ensure optimal outcomes while remaining profitable and compliant, it is more important than ever to meet every Medicaid challenge your long-term post-acute care (LTPAC) facility knows about—as well as those you may not be aware of, or don’t fully understand.

Today, more and more LTPACs are turning to outside Medicaid specialists for insights, expertise, training and customized solutions for a variety of Medicaid challenges.

Read More

Topics: Medicaid Consulting, skilled nursing facility consultants, SNF Consultants, medicaid consultant, medicaid challenges, medicaid specialist

How Implementing an Effective Denial Management Process Can Help Optimize LTPAC Revenue Cycle Management

Posted by Ken Voll, Director of Revenue Cycle Management on May 8, 2020 11:00:00 AM

How the Right Technology Can Help Your LTPAC Optimize Revenue Cycle Management

It’s no surprise that long-term post-acute care (LTPAC) organizations must generate revenue in order to pursue their mission and grow. That said, generating revenue in and of itself is not enough; your LTPAC must also collect the revenue while minimizing leakage and potential lost dollars. In this regard, revenue cycle management plays a key role.

Revenue cycle management for LTPACs tracks client revenue from admission/registration through collection of accounts receivable balances. The cycle includes the universe of administrative and clinical functions in an LTPAC organization that contribute to the capture, management and collection of patient service revenue.

If you seek ways to boost profitability and enhance outcomes, optimizing RCM is a prime place to start. In this blog, we explain how implementing an effective denial management process can deliver insight you need to rectify issues and promote efficiency.

Read More

Topics: Revenue Cycle Management, long term care revenue cycle management, revenue billing cycle, long term care consulting firms, long term care consulting services, revenue cycle management consultants

Understanding the True Costs of Uncollected Revenue in the LTPAC Industry

Posted by Ken Voll, Director of Revenue Cycle Management on May 5, 2020 2:00:00 PM

Long-term post-acute care (LTPAC) organizations of all sizes and shapes should be singularly focused on the mission of optimizing patient care and enhancing outcomes. Yet, to pursue this, it’s vital that your organization operate efficiently—and a big part of that entails collecting all revenue owed in a consistent manner.

At Richter, we’ve seen far too many LTPACs suffer the harmful effects of uncollected revenue. As a result, they put themselves at risk for financial instability—and that, in turn, puts their mission at risk.

Read More

Topics: long term care consulting services, skilled nursing facility consultants, SNF Consultants, long term revenue cycle management, healthcare revenue cycle management services, revenue cycle billing

Home Health and Hospice Revenue Cycle Management Services: Seven Benefits of Outsourcing

Posted by Deborah Collum on May 4, 2020 4:48:21 PM

 

If you own or operate a home health or hospice agency, you know just how vital the services you provide are to the health and well-being of your patient. Likewise, you no doubt understand that maintaining the sound financial health of your organization helps ensure that this care can continue to be delivered into the future.

For home health and hospice agencies, optimizing revenue cycle management is key to achieving this. And while agencies come in all different shapes and sizes, most personnel handling financial duties – including registered nurses (RNs), licensed practical nurses (LPNs), office staff and more – are hard-pressed to find even a minute of free time, day in and day out. It’s all they can do to simply perform the basic requirements of their jobs, let alone devise and deploy industry best practices to optimize revenue cycle billing and other financial processes.  

 

Read More

Topics: Home Health & Hospice, hospice revenue cycle management, hospice consulting firms, home health revenue cycle managemet, home health consulting, home health care consultants, hospice consulting services

Subscribe to Our Blog