In order to get timely payments, skilled nursing facilities need to follow efficient billing practices. From submission of denial free claims to accounts receivable management, payer follow-ups and compliance to healthcare regulations, there is a lot that needs to be done if a skilled nursing facility wants to survive in business.
There are an increasing number of regulatory restrictions as far as skilled nursing facility billing is concerned. Consolidated billing is a patent system that covers services that come under the scope of care at a SNF. It is important to have billers who have a good understanding of the exclusions and inclusions of consolidated billing required for timely reimbursements.
Here are some of the reimbursement tips for SNFs that can be followed in order to get timely payments:
- It is necessary to maintain an updated list of drugs and services that are included as well as excluded in skilled nursing facility consolidated billing.
- It helps to educate staff at the skilled nursing facility about the necessity of informing the practice about the status of the patient when an appointment is being made.
- Status of invoices should be monitored in a continuous manner and sent to the SNFs promptly.
- When an appointment is being scheduled, it is important to determine whether a patient is a SNF resident or not.
SNF-related billing concerns have pushed the need for having well-trained, experienced staff certified in maneuvering SNF billing executions under various programs, including Medicare Part A, Part B, commercial health insurance plans and state-specified Medicaid programs.
As he healthcare landscape is changing, large number of skilled nursing facilities are shifting to hospitals from private practices. This has changed their billing needs as well. They are in constant need of skilled billers and coders who are adept with SNF billing requirements.
To ensure timely payments, SNFs are choosing to hire a billing company that works with billers who are cognizant of Medicare rules regarding SNF billing. They have a good understanding of submitting clean claims and have the necessary accreditation and training to help the facility sail through revenue challenges. Reputed billing companies offer various other functions to SNFs other than ensuring timely payments. They also offer accounts receivable management, electronic claims transmission, payment posting, monthly reporting, compliance with healthcare regulations and coding with HCPS, ICD-10 and CPT codes.