Effective Nursing Home Billing Solutions for Optimal Results
< 30
Days in AR
10-15%
Revenue Increase
97%
First Pass Ratio
96%
Collection Ratios
98%
Clean Claims Rate
Overview of Nursing Home Billing Services
The need for nursing homes is growing around the country. Senior citizens and disabled people require such facilities for their custodial care and timely treatments.
Nursing home billing is critical to the financial management of long-term care providers, guaranteeing accurate and timely compensation for the high-quality services offered to the patients. Nursing home billing services consist of the following sub-procedures.
- Insurance Verification
- Accurate Coding and Documentation
- Admission and Discharge Entries of Patients
- Claims Generation and Submission
- Government Insurance (Medicare and Medicaid) Compliance
- Private Insurance Compliance
Common Challenges in Nursing Home Billing Solutions
Nursing home billing solutions face several issues in the complex world of healthcare reimbursement. One key obstacle is the constantly changing regulatory environment, which requires constant adaptation to new guidelines. Challenges faced in nursing home billing services are:
Different Insurance Plans (government or private)
Management of government or private insurance plans can be challenging.
Regulatory Changes
There is a constant change in the regulations that govern nursing home billing. So it can be a challenge to keep up with the changing guidelines.
Accurate Coding
Failure to use precise coding and accurate documentation can lead to claim delays and denials.
Data security
Ensuring the security and privacy of patient information can be a challenge during nursing home billing.
Increased Use of Technology
Maintaining current knowledge of technology advances in healthcare billing systems is a must to avoid errors.
Type of Services
Long-term care facilities frequently offer a wide range of services, and each service may have its own set of codes and payment rates.
Outsource Nursing Home Billing Services
Outsourcing nursing home billing services can provide long-term care facilities with various advantages, including the ability to focus on quality healthcare while ensuring effective financial management. Some of the benefits of outsourcing nursing home billing services are as follows:
- Accurate Billing
- Revenue Cycle Management
- Knowledge of Different Insurance Plans
- Regulatory Compliance
- Cost Effectiveness
- Rapid Reimbursements
- Reduced Billing Errors
- Risk Mitigation
Get In Touch With Our
Nursing Home Billing Experts
FAQs
At MediBill MD, we believe in utilizing industry experience and expertise to overcome unique challenges at the lowest possible costs. Our nursing home billing specialists work day and night and follow federal/state laws, coding guidelines, and payer policies to increase your bottom line and prevent revenue leakages.
You can get our proven nurse home billing solutions for a small percentage of your total monthly collections. We only charge between 2% and 5% of your reimbursements in a month for our tailored nursing home billing services.
Medical coding for charge capture is the most challenging part of nursing home billing. A range of services are offered to elderly patients at nursing homes or skilled nursing facilities (SNFs). Hence, the codes from several categories and coding systems must be compiled to accurately report the procedures/services for clean claims submission.