Simione™ Healthcare Consultants

Finance


Financial Review Revenue Cycle Accounts Receivable Management
Business Office Engineering Benchmarking

Strong healthcare financial management remains a driving force for helping home care and hospice agencies maximize their clinical and operational effectiveness to meet industry requirements and remain viable to serve their communities. Our team of hands-on financial specialists bring practical home care and hospice expertise in the following core discipline to help improve financial performance.

 

Financial Review

Evaluate and improve your budget and financial reporting to ensure accurate, consistent and compliant financial operations that will keep your organization focused on its goals. Areas of expertise include budget and forecasting, financial modeling, cash flow management, managing under the Prospective Payment System (PPS), maximizing the return on your IT investment, and reimbursement review and analysis, adjudication and appeals.

 

Revenue Cycle

Get expert analysis of your organization's billing & collection processes, and implement best-practice accounts receivable management to improve cash flow and decrease Days Sales Outstanding (DSO).

We also provide resources for ICD-10 consulting and training, and outsourced billing and coding services.

Accounts Receivable Management

One of the critical success factors for home care organizations is effective Accounts Receivable Management. Your AR processes must reflect best practices and the use of key indicators. Simione Healthcare Consultants can support you with:

  • Expert analysis of your organization's billing and collection processes

  • Turnkey recommendations for appropriate modifications

  • Outsourced billing, coding and OASIS review services to enhance cash flow and overall organizational financial performance

To help you implement the best AR management practices leading to improved cash flow and decreased Days Sales Outstanding, our analysis of your current processes includes:
 

Pre-billing activities:
 

Necessary clinical documentation including Plan of Care and OASIS

  • Patient registration and insurance verification

  • Charge/visit entry

Claim submission activities

  • Efficiencies of electronic and manual systems

  • Timeliness of billing cycle

Collection activities including claims tracking methods and tools

  • Additional Data Request (ADR) management processes

  • Review and/or development and documentation of Policies and Procedures

Using the right key indicators helps you know where you really stand and minimizes your "management surprises". We will:

  • Identify the key indicators and how to utilize them

  • Analyze your revenue reporting methods

  • Quantify the ability to collect on your claims

If you require additional accounts receivable management support we can provide:

  • AR recovery at your location or at Simione™ Healthcare Consultants' offices

  • Medicare denial and appeal process management

  • Interim management of your billing department including billing outsourcing

  • Specialized training in Medicare PPS billing and PPS claims tracking and use of Medicare's on-line system

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Business Office Engineering

Analyze your back-office operations with the goal of maximizing your staff and other resources to improve your financial performance.

Benchmarking

Analyze and compare your home health and hospice performance with Simione Financial Monitor, an affordable, automated financial benchmarking tool for today's reimbursement age. Make better decisions with real-time information that drives business performance and facilitates a hassle-free cost reporting process.

Whether you are new to home health and hospice or well established, doing well or troubled financially, you can benefit from the objective, professional consulting services offered by Simione Healthcare Consultants, our unmatched experience and expertise, and our history of successful outcomes.


Contact us to learn how our Finance team can help you gain the leading edge for tomorrow.

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