BREAKING NEWS: CMS Reverses NCCI Eval Coding Change
As you know on January 1st, 2020 CMS changed its coding methodologies to prevent PTs and OTs from billing an evaluation and therapeutic activities and/or group therapy services on the same date of service.
But as of today, January 24th, 2020, CMS has reversed course and announced that it will return to most of the coding rules that were used in 2019. In short, this means that therapeutic activities (97530) and all PT and OT evaluations may be billed in the same visit without the use of a modifier.
There are still a lot of details to be worked out and we don't know if the update will be retroactive to January 1st... so stay tuned!
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Should You be Using Cash or Accrual Basis Accounting?
Unless you were an accounting major, even the thought of crunching numbers can be daunting. We are here to help you understand the nuances of cash and accrual accounting and to see which may be best for you and your practice.
Let’s start off by breaking down the difference between cash basis accounting and accrual basis accounting.
Cash accounting recognizes revenue and expenses when money is actually paid in and out.
Accrual accounting recognizes revenue when it’s earned and expenses when they’re billed (but not paid). Accrual records revenues on the books when billed to patients, insurance companies, and other third party payers and expenses are recorded when incurred and there is an obligation to pay.
In summary, the major difference is the timing of when sales and purchases are recorded.
So which method is best?
The industry standard is definitely a cash method of accounting. This is because practices use their financials to compare to their operations to see how their practice is doing. Cash is much more straightforward and not nearly as dependent on forecasting. Cash method will show if operations in is line and/or your overhead is too high for your revenues on a month to month basis.
Accrual accounting is more difficult to perform, but may give a more accurate gauge of the practice within any given period. Accrual accounting will allow you to predict what you will collect in any given month on the visits and units that were actually delivered and compare it to the labor that was actually provided in that month. One of the keys in accrual basis accounting is to maintain an accurate bad debt percentage and accurate payment per visit per payer. These key metrics will help ensure that your books are accurately reflecting the health of your business day to day.
While this introduction highlights the major differences between the two methods, you still may have questions about which is best for you and your practice. Contact LRS today to see how we can help you get you to where you need to be to create your 2020 budget and beyond!
NCCI Coding Reminders for 2020
A few coding reminders for physical and occupational therapists that are effective as of 1/1/2020:
NCCI Edits for Evaluations:
97530 and Evaluations
97530 cannot be billed on the same day as physical or occupational therapy evaluations. This was buried deep in the NCCI coding edits changes and it is a major change to how evaluations will be billed moving forward.
97140 and Evaluations
Modifier 59 is required on the evaluation CPT code or on 97140 when you bill manual therapy on the same date of service as a physical or occupational therapy evaluation.
*Please note on changes above, Medicare is considering manual therapy as part of the evaluation CPT code.
Biofeedback Edits
90912: Cannot bill with 90901
90912: Use modifier 59 on the following CPT codes when used on same day: 97032, 97110, 97112, 97530, 97535, 97750
90913: Cannot bill with 90901
90913: Use modifier 59 on the following CPT codes when used on same day: 97032, 97110, 97112, 97530, 97535, 97750
You can review other NCCI changes directly through CMS.
PTA/OTA Modifiers for Medicare:
All therapy services provided by a Physical Therapy Assistant (CQ) or Occupational Therapy Assistant (CO) must be reported with the associated modifiers on the claim line(s) representing the services they provided.
The PTA/OTA modifier must FOLLOW the GP or GO professional modifiers.
All other modifiers are to go after any additional modifiers that are necessary on the claim.
Just as a reminder, Part B Threshold for 2020 for OT is $2080 and for PT/SLP is $2080 (combined).
As always, if you have any questions about these changes or any other 2020 updates, contact us at hello@lincolnrs.com to set up a strategic evaluation meeting.
2019 Blog Highlights
LRS would like to wish you a happy and healthy start to the New Year!
We also wanted to take this opportunity to highlight the most accessed LRS blogs of 2019 in case you missed one:
Cheers to 2020!
Is Your Medicare Documentation Ready for 2020?
Is Your Medicare Documentation Ready for 2020?
2020 is almost here and so are the updates to Medicare’s CPT codes, modifiers, deductibles and payments.
Below are major updates that physical and occupational therapists should be aware of heading into the New Year:
Medicare Part B Deductible
$198.00 in 2020. This is a $13 increase from last year. The patient will be responsible for this portion in addition to the 20% coinsurance. However, if the patient has a secondary insurance, it may also pick up the deductible. It is important to verify this before a patient is seen at the beginning of the year.
New CPT Codes for 2020
90912
90913
97129
97130
Deleted CPT and HCPCS Codes in 2020
64550
95831
95832
95833
95834
G0515
G8978 through G8999; G9158 through G9176; and G9186
New PTA/OTA Medicare Modifiers for Medicare Claims
CQ Modifier: Outpatient physical therapy services furnished in whole or in part by a physical therapist assistant.
CO Modifier: Outpatient occupational therapy services furnished in whole or in part by an occupational therapy assistant.
It is important to note that starting in 2022, if the PTA or OTA provides 10% or more of the treatment session, CPT codes that have a CQ or CO Modifier will be paid at 85% the rate of what a PT or OT would receive for those services. This delay in payment reduction was a major policy win in 2019 but it is important to continue to pressure CMS to delay that increase indefinitely.
Under the Medicare law, the CQ and CO modifiers do not apply to Medicare Advantage plans. However - you should still have your verification team ask each insurance company if they are independently requiring the additional modifiers or will be in the future.
Have questions about these updates? Email us at hello@lincolnrs.com to see how LRS can help.
8 Minute Rule - AMA or CMS?
8 Minute Rule - AMA or CMS?
Unfortunately, very few therapists understand the core differences between billing for insurances that follow AMA guidelines and insurances that follow CMS guidelines. Within your EMR, you should be able to set up and customize the billing and payer settings to ensure you are billing accurately and getting reimbursed properly for the services you have rendered.
8-Minute Rule Cheat Sheet:
Please note: It is important for you or your billing team to verify with each insurance carrier to determine which guidelines they follow.
Before addressing the 8 minute rule, it is imperative to understand the difference between service-based CPT codes and time-based codes. Short and sweet, here’s a breakdown:
Service Based codes can only be billed once per treatment session, no matter how long the procedure takes.
Examples:
physical therapy evaluation (97161, 97162, or 97163) or re-evaluation (97164)
hot/cold packs (97010)
electrical stimulation (unattended) (97014)
Time Based codes are codes that are billed in 15 minute increments and billed based on how long the procedure takes.
Examples:
therapeutic exercise (97110)
therapeutic activities (97530)
manual therapy (97140)
neuromuscular re-education (97112)
gait training (97116)
ultrasound (97035)
iontophoresis (97033)
electrical stimulation (manual) (97032)
Now to the fun stuff... How do CMS and AMA guidelines differ?
CMS:
Per CMS, in order to bill one unit of a timed CPT code, you must perform that associated modality for at least 8 minutes. Medicare takes the total time spent in a treatment session and divides by 15 to figure out how many units are rendered on a given service date. If eight or more minutes are left over, you can bill that time as an additional unit. If 7 or less minutes are left over, you must drop those minutes and not bill for them. Simply put, Medicare takes total time and uses the chart below to determine how many units were rendered on a particular treatment session.
8-22 minutes : 1 unit
23-37 minutes : 2 units
38-52 minutes : 3 units
53-67 minutes : 4 units
68-82 minutes : 5 units
83 minutes+ : 6 units
American Medical Association (“AMA”):
The main difference under AMA guidelines is that the AMA does not calculate the total time or cumulative time of a treatment session. They consider each unit and each unit must be at least 8 minutes in order to bill for it. This is why some people call the AMA guidelines the “Rule of 8’s.”
Some Examples for Understanding:
You bill 97530 for 8 minutes and then bill 97110 for 8 minutes = 2 units billed under AMA guidelines. *1 unit billed under CMS guidelines.
You bill 97530 for 16 minute and then bill 97110 for 7 minutes = 1 unit billed under AMA guidelines. *2 units billed under CMS guidelines.
You bill 97530 for 8 minutes, 97110 for 8 minutes and 97112 for 8 minutes = 3 units billed under AMA guidelines. 2 units under CMS guidelines.
Avoiding 8 Minute Rule Mistakes:
First and foremost, you want to make sure you have customized your software so that it can handle all the intricacies of accurate billing. Since payers are unique to each region, it is imperative you determine which rounding rule various insurances are following.
This determination is one component of the strategic assessment LRS provides its clients, along with continuous updates and adjustments to stay ahead of the curve.
Contact us to Set up a free assessment of your practice.
Webinar Download: Are Administrative Burdens Keeping You From Making Money?
Fill out the form below and LRS’ latest webinar: Are Administrative Burdens Keeping You From Making Money will be available for download and also emailed to the address provided.
Reminder: After watching the webinar, click here to set up a FREE strategic revenue consultation!
Are You Confused by Credentialing? LRS is Here to Help!
What is Credentialing?
Credentialing is a complex process in which providers submit their qualifications, education, training and experience in order to bill an insurance company for reimbursement. Other terms used interchangeably with credentialing are provider enrollment and contracting.
What does the credentialing process involve?
Becoming credentialed involves obtaining, filling out, and submitting a series of applications with insurance companies. Once your applications have been submitted, you must confirm it has been received and follow up frequently to ensure the process is progressing. Although it might sound fairly straightforward, the process is rarely uncomplicated.
Many providers find their enrollment applications rejected or denied for various reasons. Failing to complete a section or submit a document can cost many lost hours and ongoing effort to resubmit applications.
The credentialing process must be repeated for each and every insurance company you wish to submit claims. On average, a provider can expect the credentialing process to take 90 to 120 days. Most providers would describe the process as burdensome, as it draws time away from patient care and puts strain on office administrators.
Consider the use of a credentialing service to alleviate the stress that credentialing puts on providers and office staff!
For some practices, it’s a no-brainer to hire a credentialing service to handle all credentialing needs start to finish. A dedicated credentialing team can focus their energy on submitting, following-up and ensuring all credentialing is accurate and up to date, allowing you to focus on the patient!
A reputable credentialing service will:
Get your practice and providers set up on the Center for Affordable Quality Healthcare (CAQH).
Ensure all CAQH information is up to date at all times. Including but not limited to: education, work history, reattestations, license expirations, and liability insurance. This prevents insurance companies from denying your application due to outdated information.
Save you days of backlog when multiple re-credentialing applications are due simultaneously
Ensure all credentialing applications and documents are accurate and current, therefore decreasing wait times and increasing revenue!
Handle all communication and follow-up. An excellent credentialing service will confirm receipt of all applications and documents and follow-up at least every 2 weeks to ensure the process is progressing. Frequent follow-up prevents an application being stuck in limbo for weeks.
Give you peace of mind that all your credentialing needs are met in a timely and organized fashion.
Don’t spend another minute confused on credentialing (it could be costing you not just time but money!) Contact Lincoln Reimbursement Solutions today to schedule a time to chat with our knowledgeable credentialing team.
PTs: What Does the CMS 2020 Final Rule Mean for You?
On November 1st, the Centers for Medicare & Medicaid Services (CMS) issued its final policies for the 2020 performance year of the Quality Payment Program (QPP) via the Medicare Physician Fee Schedule (PFS) Final Rule.
The 2020 performance year will maintain many of the requirements from the 2019 performance year, while providing some needed updates to both the Merit-based Incentive Payment System (MIPS) and Advanced Alternative Payment Models (APMs) tracks to continue reducing burden, respond to clinician and stakeholder feedback, and align with statutory requirements. Additionally, CMS is finalizing its MIPS Value Pathways participation framework that beings in the 2021 year.
So what does this mean for you and your practice as you head into 2020?
The final rule, which is mostly unchanged from the proposed rule put forward in July, cuts payments to physical therapists by 8% in 2021.
The 2020 therapy threshold dollar amount for physical therapy and speech-language pathology services combined is $2,080 and is a separate $2,080 for occupational therapy services. This is an increase of $40 from the 2019 threshold.
CMS estimates the 2020 conversion factor to be 36.0896. This is a 0.14% increase from the 2019 conversion factor.
One big win from the original proposed rule was that CMS revised the PTA/OTA modifier requirement. Under the final rule, it will allow separate reporting, on two different claim lines, of the number of 15-minute units of a code to which the therapy assistant modifiers do not apply, and the number of 15-minute units of a code to which the therapy assistant modifiers do apply. When the PT is involved for the entire duration of the service and the PTA provides skilled therapy alongside the PT, the CQ modifier isn't required.
Beginning with dates of service on and after January 1, 2020, the discipline specific therapy modifiers (GO for OT and GP for PT) are still required to be appended to every CPT code billed to the Medicare program. The new PTA and OTA modifiers will be required in addition to the GO and GP modifiers.
MIPS is still expanding with new added measures for: diabetic foot and ankle care; peripheral neuropathy: neurological evaluation and prevention evaluation of footwear; screening for clinical depression and follow-up plan; falls screening and plan of care, elder maltreatment screen and follow-up plan; preventive care and screening: tobacco use: screening and cessation intervention; dementia: cognitive assessment, functional status assessment, and education and support of caregivers for patients with dementia; falls: screening for future fall risk; and functional status change for patients with neck impairment. The rule also removes 2 measures: pain assessment and follow-up, and functional status change for patients with general orthopedic impairments.
These are only a few of the updates included in the 2020 final rule. Other updates include new dry needling codes, updates to biofeedback, negative wound pressure coding values, and much more. Contact hello@lincolnrs.com to learn more about how the final rule updates will impact your clinicians and bottom line in the new year.
To learn more about the PFS Final Rule and the 2020 Quality Payment Program finalized policies, review the following resources directly from CMS:
Executive Summary – provides a high-level summary of the 2020 QPP final rule policies
Fact Sheet – offers an overview of the QPP policies for 2020 and compares these policies to the 2019 requirements
Frequently Asked Questions (FAQs) – addresses frequently asked questions about 2020 QPP final rule policies
MVPs Video – provides an overview of the MVPs participation framework
For PTs: The Buzz Around E Stim!
Below are the E Stim codes for Medicare. It is important to note that payment for these codes includes the cost of electrodes. It is important to read these definitions carefully to understand which code is appropriate.
It is also important to understand that not all commercial payers use the Medicare e-stim codes. Some commercial payers will only accept the 97014 (or other) codes. If you plan to utilize e-stim in your plan of care, it is important to verify up front with the patients benefits the billing guidelines for this code for that specific payer.
We know this can be extremely confusing. LRS is here to help you navigate your coding challenges. Feel free to give us a call with any questions you have!
It Might Be Halloween Season but Don't Let Coding and Charge Capture Scare You Away...
A clinician's main job is to provide their patients with the highest quality and integrity filled care as possible. You shouldn’t have to worry about NCCI edits, CPT code changes and how each of those differ from payer to payer.
However, as reimbursement rates have become lower and lower, it is necessary to look for ways to increase revenue. We know this is complicated but don’t continue to be spooked by all the reimbursement and coding changes. LRS is here to help!
One of the ways to beef up your practice and stay ahead of the lowering reimbursement rates is to do a quarterly coding and charge capture audit. This will allow you to minimize missed opportunity as well as enhance accuracy, productivity, profitability, cash flow and compliance.
Overlooked, missed, and inconsistent charges leave money on the table. Routine coding audits and monitoring as well as root-cause investigations will lead to crucial insights to help identify and resolve denials, payment speed, and cash flow issues.
While this sounds daunting, LRS specializes in creating charge capture programs and education programs for you and your clinical staff. LRS also works within your EMR (any EMR!) to maximize your efforts in many customizable functions of your system.
LRS will put together a comprehensive education plan for your staff as well as a monitoring system and reporting to recommend and assist you to perform better.
Contact us today to receive a free introductory coding audit. Your reimbursement levels depend on it!
7 Things to Look for in a Billing Company
Are you thinking about outsourcing your medical billing but aren’t sure what to look for in a revenue cycle management company?
Here are some key points you should review with a potential company:
Will the company work in any EMR system or will they force you to switch to their preferred EMR?
Do they handle the entire life cycle of a claim? Do they offer verification and authorization services? Do they offer centralized scheduling services?
3) Team of Billers, Coders, and Denial Management Specialists
What does their leadership team look like? What about their other employees? Are they specialized in different areas of the revenue cycle?
Will your team be in regular communication with the billing company? Will your patients have direct access to the billing team to ask questions?
Does the billing company’s leadership team meet with you on a monthly basis? What types of reporting are they willing to provide?
Does the billing company charge a flat percentage of revenue collected? Are there hidden costs associated with their services?
Does the billing company have a credentialing department? What is the cost associated with this? What are their typical turn-around time for credentialing new providers?
While this list doesn’t include everything you should look for in a potential billing company, it is a great place to start as you explore your options as a provider. Want to hear how LRS would answer these questions and any others you may have? Contact us today at inquiries@lincolnrs.com to learn more.
Is Prior Authorization Killing Your Practice?
What is Prior Authorization?
Prior authorization (PA) is a requirement that the provider obtain approval from your health insurance plan to prescribe a specific medication or treatment. This health plan cost-control process often delays care unnecessarily at the expense of the patient’s health and the practice’s resources.
What is the Process for Obtaining Prior Authorization?
For most prior authorization, providers have to follow multiple steps. This can involve securing the correct form, filling it out with the required information, submitting the form to the plan, etc. In particular, holding time is long when trying to reach a customer service representative in the insurance company. The time to submit one prior authorization can reach up to 60 minutes. An AMA survey of 1,000 physicians completed in December 2018 found that physicians completed an average of 31 prior authorization requests each week! A study by Health Affairs further revealed that when the time is converted to dollars, practices spent an average of $68,274 per physician per year interacting with health plans. This is all lost time and cost that clinicians could instead be spending with and on their patients.
What is the Clinical Impact of Prior Authorization?
The AMA study also found that more than nine in 10 said prior authorization rules had a negative impact on clinical outcomes. More than a fourth of respondents said these requirements had triggered a serious adverse event — a hospitalization, permanent injury or disability, or even a death — for a patient in their care.
What Can You Do to Improve Your Prior Authorization Practices?
Insurance companies are not going to stop requiring prior authorization. In fact, insurance companies are increasing their PA requirements. Practices face many challenges with PA, including issues submitting documentation manually via fax or through the health plan’s proprietary web portal, as well as changing medical necessity requirements and appeals processes to meet each health plan’s requirements. By using a centralized system for PA, you can reduce your costs, improve your efficiency for submitting prior authorizations, and reduce denials for lack of PA.
At LRS, our verification and authorization team understands how to work with payers. We have the institutional knowledge to complete PA's in a proficient and timely manner. Contact LRS today (inquiries@lincolnrs.com) to see how our centralized verification and authorization process can help to reduce your administrative costs and burdens.
You're One Step Away from Sanity!
Are you tired of low revenue and high administrative costs due to your in-house medical biller? Is an EMR doing your billing and they are constantly MIA and your AR balance is extremely high? Check out why outsourcing to a revenue cycle management company like LRS might be for you:
Increased Revenues and Reduction in Costs
It is generally accepted that the expenses of paying an in-house employee (think salary, benefits, office supplies, etc.) adds up to come than what is commonly paid out to a third-party billing team. You also eliminate the need to oversee employees. At LRS, we can provide you with a reduction in overhead costs, timely submission of claims and increased reimbursements.
Increased Support and Reduction in Revenue Cycle Interruptions
If you have an in-house billing department, your operations and cash flow can be stalled if an employee takes vacation, gets sick, quits/gets fired, etc. By outsourcing your medical billing team, you ensure your claims are sent out timely, your cash is coming in on a regular basis, and there are no interruptions to your revenue cycle process. At LRS, there will never be an interruption in your service. If one of our team members is out, their role is covered by someone who is equally as equipped to meet your practice revenue cycle needs.
Increased Focus on Patient Care and Reduction in Administrative Burdens
Paperwork and operational headaches are killing practices. By outsourcing your billing, you can focus on what you do best: providing quality healthcare. At LRS, we are the operations masters. We can also relieve other administrative headaches and improve your processes.
Increased Submission of Clean Claims and Reduction in Billing Errors
By outsourcing your billing, you ensure your claims are accurately submitted. This will reduce the number of denied and rejected claims. At LRS, we have a clean claim rate of over 95%. We also provide CPT code reviews so that you can increase your reimbursement and also address any billing issues that are due to clinician error on the backend.
Do you want to learn more about our services and why outsourcing to LRS might be right for you? Contact us at inquiries@lincolnrs.com to set up a free strategic revenue consultation.
Are You a PT Choosing Your Eval Complexity Codes?
This Cheat Sheet makes it less complex!
Physical therapy evaluation codes require a therapist to take into account several components when choosing the proper evaluation complexity. When these components are combined, the therapist is able to make a clinical decision and choose the appropriate evaluation level.
To aide in the process, the APTA has released a Physical Therapy Evaluation Reference Table. This chart can assist you in your clinical decision-making based on the required components of each complexity code.
It is important to note that there is no difference in reimbursement in these complexity codes. Rather, the three codes assist the therapist in giving a more detailed description of the patient’s diagnosis.
Have questions or concerns regarding your coding?
Contact us today at inquiries@lincolnrs.com for a free 15-minute session with our clinical compliance specialist!
3 Essential Billing Benchmarks for Healthcare Practice Owners
It is essential as healthcare practice owners that you are monitoring your billing goals to ensure that your practice is healthy and thriving.
Here are three billing benchmarks that LRS recommends being aware of at all times:
Denial/First Pass Payment Rates
How many denials are you receiving and how many claims are paid on the first try? Many factors go into these metrics including how accurate your insurance verifications are, how clean your claims are, and how timely your claims are submitted. A very efficient practice will have a denial rate under 5% and a first pass claim rate higher than 95%.
Percentage of Receivables over 120 Days
How quickly are you collecting the money you are owed? You should be aiming for less than 10% in this aging bucket. There are always going to be issues with specific claims but a healthy practice has at least 75% of their AR in under 60-days outstanding.
Payer Mix/Expected Revenue per Payer per Visit
Who are your top 5-10 payers? What are they paying you per visit? Your reimbursement rate is only as good as the payer mix of patients that you see.Maybe it is time to try to renegotiate contracts or consider going out-of-network with some insurances. LRS also recommends knowing what you are being paid per CPT code per payer per visit.
These are only a few of the KPI metrics you should be reviewing on a monthly basis. Do you see room for improvement in your practice? Contact us today at inquiries@lincolnrs.com to see how we can help you improve these essential benchmarks.
Are You Attending PPS in Orlando?
If you are attending, let us know!
We would love to set up a time to grab a quick cup of coffee and discuss how we can help increase your revenue and remove your administrative burdens.
We hope to see you in the Sunshine State!
Can Chiropractic Care Help Fight the Opioid Crisis?
Chronic pain exacts a terrible toll on human well-being. More than 10 percent of Americans suffer from pain every day, according to the National Institutes of Health, and many more suffer from it sporadically. Academic research has found that pain is one of the biggest sources of unhappiness. Because of chronic pain, the use of opioids has become a public-health crisis – playing a role in some 50,000 overdose deaths in the United States last year.
Chiropractic and other conservative (non-drug) approaches to pain management can be an important first line of defense against pain and addiction caused by the overuse of prescription opioid pain medications. The Centers for Disease Control and Prevention (CDC) recommends safe alternatives like chiropractic care for the management of most non-cancer-related pain. Physical therapists partner with patients, their families, and other health care professionals to manage pain, often reducing or eliminating the need for opioids.
According to the American Chiropractic Association, “In 2017, the American College of Physicians (ACP) updated its guidelines for the treatment of acute and chronic low back pain to recommend first using non-invasive, non-drug treatments before resorting to drug therapies. ACP’s guidelines, published in the Annals of Internal Medicine and based on a review of randomized controlled trials and observational studies, cite heat therapy, massage, acupuncture and spinal manipulation (a centerpiece of chiropractic care) as possible options for non-invasive, non-drug therapies for low back pain.”
In a new meta-analysis and systematic review, presented at the American Academy of Pain Medicine 2019 Annual Meeting, patients who visited a chiropractor for a musculoskeletal pain condition were 49% less likely to receive an opioid prescription than their counterparts who went to other healthcare providers.
Chiropractic care can help patients get to the bottom of their pain - not just mask it with medicine. Many payers already cover non-opioid pain management and treatment services to some degree, but they often limit the duration of services or require administrative actions that could create barriers to care. Given the massive opioid public health crisis and the scientific correlation between non-invasive pain management reducing the need for pain medicine, chiropractic care should be viewed as a first-line treatment for patients.
Managing Your Accounts Receivable and Improving Your Cash Flow
Your accounts receivable report indicates how long insurance claims and patient balances have been outstanding. The lower the percentage outstanding, the better!
Take a look at your report and ask:
How big is your dollar amount in 120+?
Is greater than 10% of your outstanding claims aged beyond 120 days?
While your AR report on its surface doesn’t tell the whole story of your practice, it can give you a really good idea on why your cash flow may not be where you want it.
Has your current billing team been neglecting your outstanding claims and you think your AR is in really, really bad shape? We also have a process for that!
We complete a full insurance and patient AR clean-up in 90 days. Within that 90-day window, each insurance claim will either be paid, expected to be paid, or recommended for write-off. We also call each patient who has a balance outstanding over 90 days to encourage payment in full, to set up payment plans if appropriate, or determine if account collections is the next step. We can also help you implement a process for sending patient accounts to collections if you do not have one yet.
Even if your AR is not in dire need of repair, there are several ways we think LRS could improve on your current AR process. At LRS, we pride ourselves on our standardized A/R management system. We follow-up on every single claim that is outstanding past 90 days (30 days for Medicare). We track this information for you in your EMR system so both our team and yours know why a claim has not been paid and when it is expected to be paid. We are extremely motivated to collect on every penny you have outstanding and will follow-up and appeal, if necessary, each claim until it is collected.
Want to learn more about how we can help you turn your AR around and get your cash flow moving again? Contact us at inquiries@lincolnrs.com to learn more. Mention this blog and you will receive a complimentary AR assessment to see how LRS can get your collections back to where they should be!