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When considering opportunities to improve financial performance, benchmarking may not immediately come to mind, but health care managers who have used benchmarking techniques to enhance the fiscal well-being of their institutions have found it to be invaluable.
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The Outpatient Prospective Payment System (OPPS) implemented on Aug. 1, 2000, was a significant turning point for hospitals, moving them from a cost-based reimbursement to a CPT-4 and HCPCS level II line item prospective payment methodology, referred to as Ambulatory Payment Classifications (APCs).
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Cutting accounts receivables days from 116 to 43 is a monumental accomplishment. Cutting the days at the same time your gross revenue grows from $770,000 per year to $1.6 million per year without adding extra staff to the billing process may sound like a plot for a new unreality TV show, but it did happen at HomeReach Homecare in Worthington, OH.
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There is a growing fiscal crisis in state Medicaid programs. Those programs have increasing concerns about the fiscal burden of caring for elderly and chronically ill patients.
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A culturally insensitive remark to the grandchild of a patient not only resulted in the home care nurse being thrown out of the home, but also resulted in a major change in the way that Catholic Health Service (CHS) of Long Islands Home Care and Hospice program addressed cultural differences among patients and employees.
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One tactic to improve your agencys cultural sensitivity is to make sure your work force reflects the diversity of your patient population, according to experts interviewed by Hospital Home Health.
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Just four years ago, accounts receivable days outstanding for HomeReach Homecare in Worthington, OH, reached 116 days. After investigating reasons for the delays in payment and implementing changes that solved problems, the agency now enjoys an average of only 43 days.
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Understanding why claims are returned to providers for correction will help home health staff members better check claims before they are submitted, says Terry Cichon, CPA, director of homecare operations for FR&R Healthcare Consulting in Deerfield, IL.
