How are you going to achieve financial independence in 2021 through RCM?
Financial independence can seem like a daunting task, but it doesn’t have to! Financial independence is accomplished by looking at an entire department – in this case the RCM department – and understanding the different processes and executing them correctly the first time. Whether it be following up with various payers on a provider’s credentialing status and on updated legislation for new rules and regulations to ensure that FQHC specific CPC codes are used on the claims to guarantee they get paid correctly the first time to reduce the denial rate. It’s important to have a plan of action for the claims that are denied or are not paid correctly and end up sitting on the A/R. Having a team of A/R Specialists that review the overall A/R to ensure those claims are paid, do not hit timely filing and are not written off by the FQHC can help the FQHC achieve financial independence. It’s also important to have a team with a strategy to monitor the self-pay patients as they may become eligible for Medicaid up to 5 years after their initial visit.
We can help with this! We have a trained team of specialists that understand every aspect of FQHC billing: from the full credentialing cycle, advising your front desk for a smooth transition to the back office to ensure claims are paid, don’t hit timely filing and denials are reduced, A/R is paid off instead of written off, and self-pay patients that become Medicaid beneficiaries have their claims paid through our retro payment Medicaid program.
