Get a grip on your finances with hospice and home health billing services
For out-of-hospital care providers—especially home health, hospice, and private duty agencies—accurate and timely billing and claims filing is essential. For leaders looking to improve cash flow or set a more effective strategy for long-term success, hospice and home health billing services could make all the difference. Here are a few good reasons why.
5 benefits of hospice and home health billing services
Are you tired of manually gathering and entering the info you need to bill and get paid? Or, even worse, are you finding that it’s difficult to keep track of it all, and that you may even be missing out on payments? Billing services are designed to free you of these burdens by performing the most difficult, time-consuming parts of claims management for you.
But although the bulk of the process is now automated, you also have the option to navigate the claims at will. When you want to investigate a particular claim, or manually submit one, it’s easy to do so—just click a button and the claim is sent instantly to the clearinghouse to be processed and paid.
2. Availability of information.
The summary page offered by MatrixCare home health billing services gives you a quick, at-a-glance look at all claims—those that are ready to be filed, and those that aren’t. No more running and managing multiple reports and spreadsheets. Instead, the system efficiently and automatically tracks all the info you need.
Within the summary page, you can easily see other important info like total charges and expected reimbursement. Files are grouped by insurance, and each can be clicked to see the exact date and time the file was created and what claims it includes. You can also click a patient’s name to toggle back and forth between the patient record and group files.
3. More timely filings.
The summary page also shows you the claims that aren’t ready to bill. This includes files that are on hold, and the reasons why. Because the system constantly and automatically processes patient and claim data, it can offer a fast verdict on just what’s holding up a particular claim.
Needless to say, the longer a claim takes for validation, the longer you’re waiting for payment. What’s worse, you’re also increasing the danger of missing a due date and losing your chance to capture any payment at all. With MatrixCare, unbilled claims are organized by timely filing days, with the most at-risk appearing in red, so you can quickly see what’s most at risk and act accordingly.
Because claims are organized by business unit, payer, or by the reason for the hold, you can easily see how many are held up for home health, hospice, palliative care, private duty, and so on.
The system can also push through a claim hold when the reason is unclear for why a claim isn’t moving forward. By pushing it through to the payer, the payer must then define their own reasons. This can speed up the process, as well as help you better manage the different requirements between Medicare and other insurers. Once claims are cleared from Validation Hold, the system will then review claims using rules established by payer in the Claims Hold summary.
4. The chance to implement key process improvements.
Not all payers or insurance companies have the same requirements or timetables. Given those differences, your hospice or home health billing service should help you define and automate an appropriate process for making sure all claims are filed in a timely way.
Whether the need is for daily billing, once a week, or even once a month, automating the process means you’re helping to ensure that your claims are always moving toward submission and payment.
5. Greater accuracy.
The MatrixCare system won’t allow a claim to be sent until it has passed the rules in Validation and Claims Hold. It also helps make sure you’re submitting a claim at the right time—some payers can only be billed once per month, for example, while other claims can and should be filed more frequently.
Instead of manually keeping track of all these different factors, home health and hospice billing services like those offered by MatrixCare provide everything you need at a glance, in one easy-to-use system. And that could help make sure you get the revenue you’re owed, at a time when many businesses need every advantage they can get.
Request a demo today to learn more about the benefits of hospice or home health billing services from MatrixCare.
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