New Home Care Guide Offers Tips on Better Cash Flow
Dallas-based Home health software vendor Axxess this week released an eGuide aimed at helping home health agencies effectively manage their cash flows and, ultimately, grow their businesses.
To achieve these goals, the guide “Revenue Cycle Management: What you Must Do Now – to Succeed!” assists agencies in not only selecting the right revenue cycle management (RCM) system, but it also aims to show how an effective RCM system will reduce common errors, increase visibility into claims processes as well as help owners better anticipate cash flow issues.
Additionally, the eGuide also shows how an effective RCM system will create integrated and accurate scheduling, Medicare eligibility checking, claims tracking, financial reporting, compliance controls, among other features.
With the right RCM system, Axxess believes home health operators will be in a better position to not only monitor their claims process and cash flow, but also manage potential business risks and make strategic plans to grow their businesses.
Research by American Health Information Management Association indicates that providers should expect a decrease in productively of 54.4% to 69% during the first year of ICD-10 code set implementation.
As a result, agencies will experience more errors and rejected claims impacting their payments, said John Olajide, president and CEO of Axxess.
“To counter this, home health agencies must gain control of their revenue processes,” Olajide said in a written statement. “Agencies will need the right RCM system in place tonsure reliable cash flow, which will directly affect their ability to conduct business.”
Written by Jason Oliva