HW Healthcare Advisors
Revenue Cycle & Billing
- SNFs, ICFs, HHAs, Hospices, Hospitals
- Accounts Receivable Analysis
- Collections Assistance
- Claims Submissions:
- Medicare, Medicaid, Managed Care, Private Insurance
- Staff Training
In any industry, accurate billing and timely collection of receivables is necessary for success. This is especially true in healthcare where receivables are concentrated among payers. The average Ohio nursing home has over 70 percent of its census concentrated in two payers: Medicaid and Medicare. That number is decreasing as census shifts to managed care programs like MyCare Ohio. Concentration among payers is decreasing, but learning the ins and outs of billing a new managed care program presents its own challenges.
Our revenue cycle consultants provide a variety of services to help you succeed in the short-and long-term. In crisis staffing situations we can provide billing services on a short-term basis, assist you in an employee search and train new hires. We also provide regular claims submission services on an ongoing basis for clients who choose to outsource that function.
Other services are more educational in nature. A business office manager may decide his/her staff is ready for re-training and have us consult on best practices, MyCare Ohio plans, treatment of patient liabilities, accounting for sequestration, and non-reimbursable portion of coinsurance bad debts.
Accounts receivable management is an important function as well. In long-term care, a standard goal for total accounts receivable turnover is an average of 45 days. If your aged accounts receivable and AR turnover ratio is growing, this may be a good time for an accounts receivable analysis and cleanup project.
An HW Healthcare Advisor with years of experience in Medicare, Medicaid, managed care and insurance billing and collections is available to consult with you.