Running a successful nursing home practically depends a lot on how much money you make. It is really challenging to ensure great patient care without making your cash flow solid. You must receive your reimbursements on time so you can keep your nursing home financially strong. The problem is that your staff might get stressed with all the rules and details of nursing home billing services—it’s a lot to keep track of!

Luckily, you can avoid most problems in your nursing home billing services. Want to know how? You can just hire a professional nursing home billing company to help you stay away from all the mistakes listed below!

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Frequent challenges in nursing home billing services:

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Claim denials and rejections are the common causes behind the hampered cash flow and revenue leakage for your nursing home. It can cost you up to 40$ along with additional paperwork when a claim is denied. Your team has to fix or appeal those claims, all while trying to handle new ones. If you can’t keep up with submitting everything on time, you're just asking for more denials to come your way. Now, it is time to know about the common reasons behind claim denials.

Poor eligibility verification process:
Your team must check a patient’s insurance eligibility at the time of scheduling an appointment. You could be in a world of trouble without performing insurance eligibility testing. Your patients will not know if they are covered by the specific nursing home care service until it is too late for them. It is quite obvious that no one likes sudden surprises related to payments. Further, you would encounter denials without a robust insurance verification process, wrecking your cash flow and reimbursements. Also, a lot of nursing homes face claim denials because of missing prior authorization. You must obtain prior authorization approval from a patient’s insurance company before administering some specific nursing home services.

Incomplete or errors in patient information:

Another big challenge you need to watch out for is mistakes when collecting patient info. This could mean wrong names, ages, or billing details. Sometimes, the info isn’t just wrong, it’s missing important stuff because your staff might be rushing or falling behind. For example, let’s say your team enters the wrong birthday, and then the insurance won’t cover the treatment. That’s a big problem!

Frequent coding mistakes:

You know medical coding errors can cause a whole lot of headaches. Your in-house team might make mistakes like upcoding, downcoding, using the wrong codes, or unbundling. And guess what? These errors can lead to claim denials or rejections, which means your practice loses money. To avoid this, you need to keep your eyes on the details, make sure your coding team gets regular training, and use tech to double-check everything. Don’t let these mistakes slip through the cracks!

Fortunately, you can bypass all the challenges mentioned above by partnering up with a professional nursing home billing service. A professional billing company always knows what it takes to ensure a perfect billing practice for your nursing home while enabling you to cut operational costs by up to 80% and boosting your revenue significantly. Finally, the best part is that you can fully focus on patient care as you know you have professional hands to manage your administrative side.