Performance-Based Billing: A Game-Changer for Hospices

As hospice agencies expand in average daily census, they need to ensure they are optimizing their billing practices accordingly. With complex revenue cycle considerations, including Medicare reimbursement, and internal resources that are often spread thin, hospice operators are in a unique position to use optimized billing to grow the bottom line.

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How to Work Remotely as a Hospice Agency

As COVID-19 has spread across the globe, no business or industry has been left unaffected – including hospice care. Everyone in this field has been quickly forced into adjusting operations, processes and more without any real preparation. These unique dynamics have forced agencies to work remotely and face challenges they’ve never thought about before.

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COLLECTING ALL DELAYED PAYMENTS IN SEVEN MONTHS

In May 2016, Advanced Hospice Management began working with a hospice provider in the western United States. This client had been connected to their previous biller through their electronic health record (EHR) software and their collection rates and compliance suffered tremendously during that time. Their previous biller failed to comply with updated billing regulations and consistently left money on the table.

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ESTABLISHING SUCCESS WITH A HOSPICE STARTUP

CASE STUDY:

ESTABLISHING SUCCESS WITH A HOSPICE STARTUP

Advanced Hospice Management worked with a startup hospice provider to create a successful foundation for billing and collecting. With no previous experience, the new hospice agency faced a complex set of rules and processes to receive its Medicare license and credentials. The provider was nervous about the daunting tasks and hired us after researching specialized hospice billers.
We successfully assisted the hospice agency in navigating through the stressful processes startups face. As soon as accreditation was received, we immediately began processing and collecting on outstanding A/R and worked to implement processes needed for long-term industry success.

CHALLENGES

  • Hospice startups often struggle to get their paperwork done correctly and in a timely manner.
  • Upon certification, startups face immense pressure to get their past billing submitted in order to begin collecting on work performed.

OUR SOLUTIONS

  • Assisted with electronic billing enrollment.
  • Monitored all Notice of Elections until they were processed and paid.
  • Monitored all Additional Development Requests until they were processed and paid.

“They do it so well that we don’t have to worry about our collections. Everything comes in every month, and we can just focus on patient care.”

RESULTS

  • We greatly reduced the standard wait time for the provider to receive its initial collections after Medicare licensure.
  • Our team established a successful foundation for billing and collecting that allows the startup to focus on delivering high-quality patient care.
  • We collected hundreds of thousands of dollars within a few months easing the financial pains of a hospice startup.

After hiring our team, we drastically improved all aspects of the billing process. In addition to ensuring the client was fully compliant, we added additional team members to actively manage cases and maximize collections. Through our efficient, proven services, Advanced Hospice Management completely restructured the hospice’s billing system.

“Advanced Hospice Management had hundreds of thousands of dollars collected within a few months which helped our profit margin tremendously.”

Advanced Hospice Management is a specialized billing service working solely with hospice providers across the country to maximize collections. Our team of highly-trained expert billers understands the complex nature of hospice billing and strictly adheres to required collection standards. We are fully devoted to providing unmatched billing solutions so that our clients can focus on patient care.

2020 Hospice Rebasing – What You Need to Know

This past August, the Center for Medicare and Medicaid Services (CMS) published the 2020 hospice final rule. Included in this ruling are updates for the hospice wage index, payment rates and most importantly – the cap amount. As a result, this 2020 rule rebases payment rates for continuous home care, general inpatient care and inpatient respite care. Overall, CMS gave hospice a 2.6 percent increase, raising the annual cap to $29,964.78.

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