LTPAC CFOs in the 21^st century have to be concerned about many things. But in reality, much of what CFOs do revolves around getting paid on time in the amounts anticipated. Perhaps paying attention to the not-so-obvious factors influencing payment may be worth investigating.

Does this CFO job description for a Life Plan Community (LPC) sound familiar?

• Ensures corporate financial processes and systems, including overall financial controls
• Oversees accounting and financial reporting, financial planning & analysis, and budgeting
• Establishes financial systems and investment accounting and reporting
• Assures all financial operations function efficiently and effectively in compliance with all applicable policies and procedures and statutory/regulatory guidelines (Italics added)
• Strong participation in strategic planning and initiatives, project management

To accomplish this, the essential duties involved include:

• Providing proactive and sound guidance regarding management of assets, investments, and financial trends
• Overseeing a system of responsible accounting including budget and internal controls
• Developing and leading the finance team to maximum productivity and responsiveness (Italics added)
• Ensuring that monthly financial statements are provided on a timely basis
• Acting as a trusted counselor regarding development of new sources of revenue

Although each of these are specific to this LPC, they are for the most part what CFOs are responsible for no matter how many locations the company operates. They have one thing in common – responsible oversight of all income, expenses, and investments. For the purposes of this blog, let’s focus on three ways to shorten the revenue cycle by “developing and leading the finance team to maximum productivity and responsiveness” – specifically by addressing A/R team job satisfaction, claims processing costs, and secondary claims payments.

1. A/R Team Job Satisfaction

In previous blogs, we have addressed such job-satisfaction drivers as empowering the AR team through participation in the admissions process, direct involvement in helping residents apply for Medicaid, sharpening the blade of job skills through recurring education and best-practice updates, employing successful billing habits, making sure the census is correct, checking eligibility regularly, participation in regularly-held billing triple checks, familiarity with key aspects of payer contracts, and getting back to the billing basics. Competence, education, and good, old-fashioned appreciation and positive feedback contribute significantly to reduced turnover and job satisfaction. A happy team is a productive team and a productive team collects money owed.

2. Claims Processing Costs

Does it matter how much it costs to process claims? Yes. Let’s just take a simple example. An operator of 40 facilities in the western US used to process claims at the facility level. But with the advent of all-in-one claims clearinghouses, centralizing the billing function in the corporate office became doable and resulted in cost-saving efficiencies. Much of the claims preparation, submission, corrections as needed, follow-up, and payment receipts could be performed on line and for the most part automatically. Fewer billers were needed, resulting in a reduction in labor costs. Just as importantly, they collected money more quickly.

3. Medicare Secondary Payer (MSP) Claims

In the case cited in the previous paragraph, the provider in question was able to automate the processing of MSP claims resulting in an accelerated payment cycle with a reduction of 30 days between secondary claims filing and payment receipts. 

Is your company getting paid on time in the amount anticipated at lower costs? We suggest that with your AR manager(s) you take a hard look at these three productivity contributors and determine what initiatives need your support. Because, really, it all makes good cents.

Valuable highlights from 2015 blogs to prepare for 2016

Hard to believe that 2015 is rapidly passing into history. Another year, but what a year it has been for Long Term Post-Acute Providers (LTPAC) providers especially considering the incredible number of claims billers have had to prepare, submit, monitor, and manage. We congratulate billers across the country for what they have been able to accomplish in converting claims to cash in the bank.

The primeCLAIMS team works just as hard to provide an excellent clearinghouse service and also to communicate worthwhile tips and advice to help make billing tasks easier to complete. Looking back on our blogs in 2015, we have covered such topics as ICD-10, processing secondary claims, dealing with claims rejections, principles of successfully Revenue Cycle Management, tips for submitting clean claims, and what to look for in a LTPAC clearinghouse.

Regarding secondary claims, one of our recent blogs, entitled, “What you’re wasting by processing secondary claims manually,” discusses the why’s of automation. The days of manually identifying, preparing, processing, and tracking secondary payer claims is long past. If they haven’t already, we suggest billers retire such costly practices forever and start the new year right.

Managing claims does not have to be complicated we argued in the blog, “Do yourself a favor - Simplify the reimbursement process,” if billers automate the process.

Not all clearinghouses are created equal. In “How well is your claims management solution moving cash flow,” we share some insight into what a clearinghouse, processing LTPAC claims, should offer. Further, because no matter how automated the process may be, claims is still about people. And people and machines need support. In another blog, we ask the question, “Clearinghouse support – is it there when you need it?”

These blogs represent the kind of information billers and their managers should know to be successful not only in 2015, but also in 2016. We look forward to continuing to share our insights and the experiences of your peers in future blogs. After all, it just makes cents.

For your convenience, we’ve grouped the recent blogs by category:

Happy Holidays! May this season bring you and yours joy.

With a Claims Management Solution - The gift that keeps on paying

Admittedly, the reimbursement process is complicated. Not only must billers identify who is to pay the bill, they have to know how to bill the payer and get paid as quickly as possible. This is especially the case when billing third party payers, such as Medicare, Medicaid, Managed Care, and private insurances. Each has its own requirements as far as coding, bill timing, and claims processing quirks are concerned which seem to change frequently. If billers are having to prepare, process, track, and follow up with claims manually using spreadsheets, phone calls, emails, letters, logs, and on and on, it is no wonder that billers are stressed and overwhelmed, that dollars are left on the table and claims are lost or misplaced. Reimbursement, or revenue cycle management, does not have to be complicated, however. In fact, it can be relatively simple with an automated claims management solution through a claims clearinghouse. But, buyers beware. Let’s take a closer look.

Keeping it simple – clearinghouse musts

Let’s assume that the strengths of automating claims management are a given. Specific clearinghouse features can considerably contribute to claims management simplicity. To help simplify and accelerate converting revenue to cash, a clearinghouse, like primeCLAIMS, should be able to do the following:

• In the event a claim is rejected, the clearinghouse should be able to isolate specific claims, not reject the entire batch of claims.
• The solution should give billers the ability to edit, scrub, monitor, and manage claims throughout the process.
• The clearinghouse must be able to stay on top of the almost daily changes to submission requirements, even the most obscure.

Visibility and control – an AR manager’s dream

Visibility and control with an enterprise-class claims solution also contributes to process simplification. With one log-in:

• Billers can connect directly to all Medicare payers via CMS-approved NSVs (Network Services Providers)
• Billers should have access to tools needed to manage claims, DDE, ADR status tracking, eligibility, secondary billing, and claims denied.
• AR managers can view each facility’s claims status and provide assistance where necessary.

Such simple tools to help speed cash flow with fewer rejections and cleaner claims. They also reduce costs by:

• Eliminating unnecessary paperwork
• Reducing transaction fees
• Reducing labor through elimination of such labor-intensive inefficiencies as:

• Log-ins to multiple systems to view all locations, determine eligibility, edit, and track all claims
• Manually compiling and submitting secondary payer claims

Simplicity in claims processing and managing also delivers peace of mind with:

• HIPAA checks
• Up to 10 years of data stored online

The bottom line

Using a clearinghouse to process, submit, and monitor claims yields numerous cost savings and improved cash flow. It’s much simpler and it just make cents.

I acknowledge that blogs are for the purpose of educating and earning your trust, but at times I think it’s alright to blow one’s own horn once in a while. After all no less a business guru than Kenneth H. Blanchard said, “If you don't blow your own horn, someone else will use it as a spittoon.” In the highly competitive world of claims clearinghouses, blowing our own horn is a must and doing it early is essential. Otherwise, the ensuing copycat cacophony will drown it out. So, here it is.

ProClaim Partners announces the release of its new integrated HETS/CLIP/DDE module as part of its automated claim processing clearinghouse software. For providers who bill Medicare this is a boon. It gives them access to Medicare eligibility and claims management tools through one portal. What is particularly noteworthy is that billers will be able to:

• Browse claims data through the ProClaim Partners proprietary web user interface
• Have a secure, high speed connection between the portal and the Centers for Medicare and Medicaid Services (CMS)
• Enjoy an integrated implementation of the new HIPAA Eligibility Transaction System (HETS) for real-time eligibility determinations
• Access Claims-in-Process (CLIP) which securely sweeps the CMS data during off hours for the latest claims activities.

The data seamlessly integrates into the ProClaim database and workflows. Together these functions will present the CMS data in a much more user-friendly, browser-based format than what billers have had through other tools. While CMS has recently delayed the sunset date for access to the older technology used for eligibility determination, the transition to HETS is still imminent. Why wait? With this new module providers don’t have to worry about a future sunset date.

Eligibility

For real-time Medicare eligibility determinations, ProClaim implements the new digital certificates (X.509), Simple Object Access Protocol (SOAP), and Multipurpose Internet Male Extension (MIME) standards within the ProClaim software service to provide web-based workflow and access to HETS. ProClaim makes instant programmatic determinations of eligibility against the CMS backend data store with minimum time and effort.

Claims in Process

The ProClaim Claims-in-Process (CLIP) function displays the current Medicare claims status, avoiding the need to navigate through the many legacy screens of the soon-to-be-phased-out eligibility inquiries into CWF using DDE for each individual claim. ProClaim’s CLIP accesses DDE during off hours to deliver programmed operator services. These services sweep the claims data off the DDE Mainframe and into the ProClaim database.

DDE Access

By design ProClaim minimizes DDE usage. However, under certain circumstances, claims administrators and billers may still need to access DDE. ProClaim provides a new and powerful DDE access solution as an integrated part of the software service. Now, providers have the choice of continuing to use 3rd party terminal emulation software for DDE access to the CMS Host or using the new ProClaim DDE access.

In summary, ProClaim Partners helps Long Term Care providers face a challenging environment converting claims to cash, especially when dealing with CMS/Medicare systems. In short, we’ve modernized and simplified the daily Medicare claims processing workload. The key benefits of using the system include:

• Real time eligibility determination
• Faster access to CWF data
• Faster access to Claims in Process
• Faster resolution of ADRs
• Reduced training time for new claims administrators
• Quicker collection of cash from claims

Tada! I have finished my horn solo. It’s nice to know that technology has caught up with the complex world of revenue cycle management.

Where are you in adopting new technologies to accelerate payments and improve cash flow?

The headlines in the long term care media continue to highlight RACs audits, claims scrutiny, and claims denial. Further, at a time when sequestration threatens to reduce Medicare reimbursement by as much as 1.8%, revenue cycle management needs to have the constant attention of all providers every day. Of course, the first thing to do is to minimize the risk of denied claims as well as rejected claims.

Even if you are able to withstand an audit, assuming the clinical documentation supports the claims submitted, you still run the risk of poor cash flow management if your claims are rejected because of inadequate or outmoded claims preparation and “scrubbing” processes. Just as it’s important to “get it right the first time” by having the documentation to support your claims, you need to get it right when preparing the claims. In our free download position paper, Five Most Common Billing Errors, we offer insights into ways to avoid billing errors, improper diagnosis codes, invalid hospital stay dates, incorrect service dates, and etc. What we’re talking about in this post is taking your claims submission process to a higher level through claims automation. Claims automation can help by consolidating the claims submission and management process through one portal. This is the premise behind the ProClaim Partners clearinghouse. It’s a one-stop-shop for scrubbing, correcting, submitting, and monitoring claims as well as receiving payment notifications all in one place. You no longer have to trouble with multiple portals or applications.

Designed for long term care providers, the ideal enterprise-class portal will enable you to centrally monitor and manage all claims before and after they are submitted. From a central home page or dashboard, depending on the permissions/security levels you configure, you can review information and take action at a corporate, regional, or facility level. You can check for errors and clean them up before submitting the claims. The system’s scrubber, which constantly updates itself through its evolving database, can search for errors and omissions according to each payer’s rules. Within the portal you have the opportunity to make corrections in a number of ways according to your preferred workflow and internal policies. You can use the Search function to research claims and where they are in the submission-payment cycle.

You even have access to DDE and multiple MACs log-ins through this portal. While you can make corrections in the DDE, our clearinghouse lets you correct errors within the portal itself.

Other features allow you to stay on top of the revenue cycle for all payers. For example, your claims can be loaded into the system conveniently either via FTP or frequent data sweeps determined by you. Once the system receives the 835 payment notices, it sends emails to those you’ve designated to receive them.

To avoid unnecessary delays in payment, getting the claims submission process right the first time is critical for long term care providers. Visit us at our booth, #1418, during the AHCA/NCAL 63^rd Annual Convention and Expo or during the 2012 LeadingAge Annual Meeting and Exposition, Prime Care Technologies, booth #530, We can show how you can accelerate payments, increase collections, and reduce DSO. It’s the right thing to do.