Billing, Accounts Receivable and Collection Services

The Vendor is required to provide for the full spectrum of accounts receivable/billing and collection service as requested by the agency.
- Center to meet the challenges of maintaining consistent and accurate cash flow by improving the billing process and educating staff so that we can assist/maintain an effective and productive billing process.
- The healthcare environment is fast paced, evolves quickly and demands on-going and accurate accountability. There is a revenue cycle that poses billing challenges, requires regulatory compliance and timely submissions for accurate payments to our facility.
- Accurate census in the accounts receivable software. (Accurate ADT’s and corresponding payers)
- Posting all cash receipts in a timely fashion. (Via electronic remits for Medicaid/Medicare and copies of deposits from the facility for private checks.)
- Phone calls to all HMO, MLTC’s and Private insurance for each unpaid claim within 30- 45 days of dates of service and additional follow-up is needed until claim is paid.
- The Firm will submit month-end closing report supplied to our controller/accountants, which ensures tying out census to sales, cash to bank statements and Patient funds trial balance to bank records.
- Reporting on a constant basis of Revenue booked, cash collections and outstanding AR.
- Full bookkeeping duties for the Resident Trust accounts including processing check requests, posting disbursements, posting cash withdrawals, Monthly Patient funds Reconciliation and quarterly statements.
- Review of admissions to ensure primary and secondary payers are active and that necessary authorizations have been obtained.
- Monitoring Medicare eligibility for days available/ days used.
- The Firm’s will back up the server onsite and offsite and have a disaster recovery plan.