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Tag: Accounts Receivable (A/R)

Also Noted

CareCentrix puts hold on suspension

March 25, 2020HME News Staff

WASHINGTON - CareCentrix has informed AAHomecare that it will delay its policy of withholding payments to providers for PAP supply patients with copay balances of more than 180 days. “CareCentrix has informed AAHomecare that they have made the decision to delay the suspension of services due to COVID-19 pandemic to the end of May, and will be monitoring the situation very closely and will delay further if necessary,” the association stated. Earlier this year, CareCentrix began requesting...

Accounts Receivable (A/R), CareCentrix, Co-Pay, CPAP Supplies

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Smart Talk

Billing: Become a billing warrior

March 27, 2017Ted Jones

A. Aggressive accounts receivable management is serious business and keeping your A/R clean requires setting a very high but attainable bar. Start with a standard of achieving less than 60-days collection, forcing your team to look at internal processes causing claims to exceed that. On average, clean claims are paid within the initial 30 days after the billed date; and secondary claims are paid within 30 to 60 days.Achieving this standard requires establishing internal processes that support the...

Accounts Receivable (A/R), bflow Solutions, Billing, Ted Jones

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Smart Talk

Receivables management: Stop the slow pay

October 22, 2015Keith Lilek

A. Slow payments by third-party payers can pose a serious threat to your cash flow and require intensive and costly staff resources for follow up. In light of all the recent changes to the stability of the healthcare industry, ensuring these claims are paid in a timely manner will improve cash flow, reduce staff follow-up and secure the financial success of your business.Consider thinking outside the box on your follow up. One easy method is to consider modifying your approach to include collection...

A/R Allegiance Group, Accounts Receivable (A/R), Keith Lilek

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Smart Talk

Receivables management: Offer choices, not credit

September 25, 2015Keith Lilek

A. Ensuring your patients come up with payments when their bills are due is becoming more difficult than ever before. With 76% of Americans living from paycheck to paycheck, and 62% of Americans unable to find even $500 to pay for an unexpected expense, it's little wonder that providers are not getting paid. Providers can reduce the number of patients going to collections with some careful considerations.Offer choices Offering a choice of payment can often make the difference between getting...

A/R Allegiance Group, Accounts Receivable (A/R), Keith Lilek

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Audits take their toll on finances, according to poll

January 17, 2014Leah Hoenen

YARMOUTH, Maine - If you use accounts receivable (A/R) to paint a picture of the financial health of HME providers, what you see doesn't look very good, according to the results of the latest HME Newspoll. A majority of the 46 respondents to the poll—55%—said the portion of their A/R that is at least 60 days old was larger at the end of 2013 than it was at the end of 2012. “Audits and delay tactics by all payers are driving up our A/R beyond a reasonable level,”...

Accounts Receivable (A/R), Audit, Days Sales Outstanding (DSO), HME NewsPoll

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On the Editor's Desk

What's the polar vortex of HME?

January 9, 2014Liz Beaulieu, Editor

In the past few months, a number of people have emailed me suggesting an HME NewsPoll to get a pulse on the financial health of HME providers in 2013. A good way to do that, they said: Ask providers about their DSO, A/R and patient collection rates. So that's what we did. One of the people who emailed me noted that if a provider has 20+% A/R greater than 60 days old, that means trouble. And wouldn't you know it, so far, the majority of respondents to the poll say they have 20+% A/R...

Accounts Receivable (A/R), Days Sales Outstanding (DSO), Patient collection

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Rein in your accounts receivable

March 3, 2010Liz Beaulieu, Editor

In a reimbursement environment where every penny counts, HME providers can't afford to let their accounts receivable (AR) get out of control. But they do. The good news: There are a number of fairly easy ways to rein it in, says Andrea Stark, a reimbursement consultant for Columbia, S.C.-based MiraVista. Make sure AR reps are dedicated The first thing on that list: Providers need to make sure AR associates are exactly that, AR associates. "Many of the companies out there say, 'AR is my top priority,'"...

Accounts Receivable (A/R), Andrea Stark

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