Dealing with Nursing Home Accounts Receivables (An Insight)
Follow my blog with Bloglovin Ask any nursing home facility about its greatest operational concern and the probable answer will be -Nursing home accounts. The in-house staffs and their lack of skill to properly handle account receivables and absence of appropriate management policy of account receivables negatively affect the account books. The major reason for the nursing home account receivables or bad debts as we know generally is due to the lack of timely follow-up on outstanding claims, mostly regarding Medicare/Medicaid pending and private pays, affecting the timely collection. In many cases, the extent of account receivables goes up to 4 -5 years or more. A sound nursing home account receivable management process must possess the ability to analyze the reasons, ways to address and build good practices. The Operations Manager at a leading medical billing service company points that at least 14% of all claims submitted to the payers are either denied or require resubmi...