ARE YOU MANAGING YOUR HOSPICE REVENUE OR IS IT MANAGING YOU?
Based on national averages, your current hospice census is 85% Medicare. How are you doing with the other 15%? Are you properly following up and billing your insurance and Medicaid patients?
You could be losing THOUSANDS OF DOLLARS a year in revenue.
What policy and procedures do you have in place to guarantee Timely Medicare Notice of Elections?
How do you verify that all admitted patients have been billed?
If they were never billed they never show on your systems aging report.
Do you have systems in place to verify that Continuous Care hours and days are correct?
You could be open to audit denials and recoupments.
How are you handling Medicare Secondary Payer Claims? Is your software able to produce this type of claim?
Did you know that MSP claims can only be sent electronically and cannot be corrected or entered through direct data entry?
Is your biller using the correct patient status code for revocations, hospice discharges, discharges when the patient is alive?
This can have a major impact on future notice of elections for hospice.
Does your software bill for medically necessary patient visits by a hospice employed physician?
NO? You are losing revenue.
Do you have a system in place so you are not billing a claim until after 2 physicians certify terminal illness during the initial certification and all re-certifications?
You could be opening yourself up to recoupment and increased Medicare denial rates if billed prior to actual signed certifications.
If you are addressing all of these areas correctly, you’re doing great!
But if you aren’t…