KPIs and Reporting Needs | 2023 End of Year Series: Practical Tips and Inspirational Insights for a Powerful Year-End

December 05, 2023 00:13:45
KPIs and Reporting Needs | 2023 End of Year Series: Practical Tips and Inspirational Insights for a Powerful Year-End
Home Health Revealed (+Palliative and Hospice)
KPIs and Reporting Needs | 2023 End of Year Series: Practical Tips and Inspirational Insights for a Powerful Year-End

Dec 05 2023 | 00:13:45

/

Show Notes

Michael and Hannah discuss the importance of real-time data in the Revenue Cycle Management (RCM) process for home health and hospice agencies as they approach the end of the year. They emphasize the significance of having access to up-to-date financial information, especially when outsourcing RCM services.

Learn the critical questions agencies should ask their RCM partners regarding real-time financial data accessibility and communication of accounts receivable status. They stress that relying on outdated data, such as monthly or quarterly reports, can hinder decision-making and necessary adjustments.

The discussion revolves around the benefits of real-time data, including maintaining a healthy cash flow, tracking claim statuses, identifying and rectifying errors promptly, and ensuring compliance with regulations.

The role of real-time data in assessing the efficiency of RCM processes is outlined, identifying bottlenecks, and improving overall operational efficiency. They encourage agencies to ask detailed questions of their Electronic Health Record (EHR) or RCM partner to ensure the granularity and timeliness of the data received.

Michael and Hannah conclude by highlighting how real-time data facilitates proactive issue resolution, helps monitor the performance of outsourced RCM companies, and ensures compliance with privacy regulations in the healthcare industry. They stress that access to current and accurate data is indispensable for informed decision-making, optimizing revenue generation, and maintaining the overall integrity of the revenue cycle management process.

Other Episodes

Episode

January 03, 2023 00:35:45
Episode Cover

Automating Documentation Management in the Home Health, Hospice and Palliative Care Industry with Worldview Ltd.

What is document management and how does it apply to the post acute setting?  What processes are impacted and what are the typical results...

Listen

Episode

August 11, 2022 00:26:55
Episode Cover

“It’s Always Too Early Until It’s Too Late” | How to Have Meaningful Conversations About Advance Care Directives

Wow! What a powerful quote from Carla Sutter, Director, Advance Directives Registry for Contexture. Ms. Sutter holds her master’s degree in social work and...

Listen

Episode

December 19, 2024 00:28:10
Episode Cover

Driving Revenue with the Referral Growth Methodology

Join Michael and Hannah in this fun episode with Jess Chew, of Trella Health.  Jess dives into the repeatable and scalable process that is...

Listen