Hospice Revenue Cycle Management (RCM) is the management of the process through which hospice providers ultimately receive compensation for their services. It is essential that each stage of the process, pre-billing, billing, and post-billing – are managed well.
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What are the essential points to consider when opening a hospice service? Before starting up, it is crucial to have a plan that is designed to ensure the smoothest path to opening. Outline a business and marketing plan, seek out the best channels of promotion, find a strong staff to carry your company, and know the best practices for collecting funds and billing your claims.
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Today, a select group of hospice service providers have announced the formation of the Consortium of Hospice Excellence. The purpose of the Consortium will be to provide a single point of contact for hospice leaders to find excellence in hospice accounting, marketing, recruiting and billing—with more services to come. Combined, the members of the Consortium represent over 340 Hospices across the United States. The management of the combined members of the Consortium represents over 280 years of experience in hospice.
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In hospice, serving patients and their loved ones by providing compassionate and professional end-of-life care must always be a top priority. But a strong revenue stream is what makes it possible to fulfill this mission. Unfortunately, the tedious and complex process of hospice billing means many organizations struggle to remain profitable.
Continue readingBlackmor CPA And Advanced Hospice Management Form Strategic Alliance For Turnkey Hospice Finance And Billing Solutions
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