Worried about Staffing Shortages? Coronis Can Help

As COVID-19 infection rates continue to surge across the nation, U.S. medical facilities are facing increasing pressure to implement vaccine mandates for all employees. A blanket mandate may seem like the right call to curb infection rates and reduce hospitalization numbers, but the reality isn’t quite so black and white. 

Medical facilities are currently experiencing staffing shortages due to the pandemic — particularly in rural areas — and a vaccine mandate may only exacerbate the problem. To prepare for this anticipated exodus of health care workers, the Biden Administration has set up funding for rural medical facilities to provide financial support during this lapse in staffing coverage. 

Coronis Health understands how the pandemic has disproportionately affected rural medical facilities. With over 100 years of combined experience in various specialties, we’ve made it our mission to assist rural facilities in any way we can.

This impending staffing shortage doesn’t have to ripple through your entire organization. Coronis offers a number of services to help support shortages within the administrative side of your facility. We have teams of experienced medical billers and coders to temporarily cover your gap in staffing so that you can continue providing high-quality medical care.

The Staffing Problem

The data is clear: COVID-19 infection rates are increasing in every state in the continental U.S. Several different factors are influencing these numbers, but the fast-spreading delta variant and number of unvaccinated individuals are, without question, the dominant determinants. 

With infection rates on the rise, health care workers are feeling stretched thin. According to recent studies, up to 30% of medical professionals have considered leaving the industry altogether. Physical and mental exhaustion, burnout, and disillusionment of the medical field are just a few reasons the healthcare industry is struggling to find and retain high-quality staff.

Another culprit behind the shortage? Vaccines. With the introduction of the COVID-19 vaccine — currently offered by Pfizer, Moderna, and Johnson & Johnson — many health care workers have expressed wariness. 

The problem seems to be twofold. A recent survey of nursing home caregivers suggests that many workers worry about vaccine safety and side effects due to lack of information. According to the American Medical Association, others feel that the vaccine was developed too quickly for their comfort, while some believe they’ve developed long-term antibodies after repeated virus exposures.

Whatever the reason may be, unvaccinated healthcare workers are at risk of becoming infected with COVID-19 and of passing it on to immunocompromised patients, which increases infection rates within the entire system. As hospital beds fill up and staff call out sick due to infection, medical facilities are continuing to operate without the number of workers they need to properly care for their patients.

Are Vaccine Requirements Coming?

The number of major health networks requiring that employees be vaccinated is growing fast. California, for example, has mandated that all healthcare workers in the state be vaccinated against COVID-19 by the end of September. Those who refuse will be subject to regular testing. Connecticut, New Jersey, and Virginia have issued similar mandates, while numerous private facilities are following suit. In June, more than 150 Houston Methodist employees were fired or resigned over the facility’s vaccine mandate.

But not all states are requiring vaccinations for healthcare workers. Montana state law prohibits any employer from requiring workers to be vaccinated. Additionally, employers cannot discriminate against workers based on vaccination status. Likewise, a 32-year-old law in Oregon prevents employers from independently mandating vaccines for healthcare workers, prompting Gov. Kate Brown to issue new guidance regarding health and safety in healthcare settings.

Help on the Horizon

As the uptick in medical facilities requiring proof of vaccination grows, the White House has a close eye on rural hospitals, where COVID-19 infection rates sit higher than at urban facilities and staffing shortages hit all-time highs in many regions. 

Fortunately, federal assistance is on the horizon, with The U.S. Department of Health and Human Services (HHS) allocating $8.5 billion in American Rescue Plan funding to help support healthcare providers serving rural Medicare, Medicaid, and Children’s Health Insurance Plan (CHIP) patients. 

The U.S. Department of Agriculture (USDA) will also allocate $500 million in American Rescue Plan funding to create the Emergency Rural Health Care Grant Program. This program is expected to increase access to COVID-19 testing and vaccines, food assistance, telehealth, medical supplies, and more. One primary goal of this new funding is to boost staffing in rural facilities that are most impacted by COVID-19.

How Coronis Can Help

The need for proper staffing in rural medical facilities is critical right now. As vaccine mandates grow, it’s important for these facilities to prepare for additional staffing shortages. Coronis Health has the skill and experience to shoulder the burden. We’re here to make sure your medical billing and coding processes continue to run smoothly in spite of staffing shortages and changes. 

We provide the highest quality medical billers and coders to optimize your revenue cycle while you tend to more urgent duties pertaining to patient care. From simplifying the collection process to scrubbing claims and reducing denials, Coronis Health can help keep the administrative side of your facility running smoothly.

To learn more about how Coronis Health can help you maintain success during staffing shortages, contact a financial consultant for a free financial checkup today.

from
https://www.coronishealth.com/blog/worried-about-staffing-shortages-coronis-can-help/

Long Haul Covid Modifiers: What You Need to Know

As the COVID-19 pandemic approaches its second year, medical practitioners are uncovering new repercussions stemming from the infection. It’s becoming clear to those in the medical community that symptoms of COVID can linger long after patients recover. Referred to as COVID “long-haulers,” these patients continue to suffer a broad range of peculiar symptoms related to the infection, including brain fog and memory loss.

Treating patients with obscure symptoms from COVID is difficult enough, but billing for them is a challenge in itself. Coding and documentation for COVID long-haulers can be tricky. Since these patients experience an array of different symptoms, sometimes months after their initial infection, determining the right coding and billing information for long-haulers is confusing and time-consuming.

All too often, facilities spend substantial time and countless resources applying the right medical codes for insurance claims and proper payment. Billing for COVID-19 is complicated, given the complex symptoms actively infectious patients face, but long-haulers present an entirely new challenge for the administrative side of your facility.

Coronis Health has more than 30 years of experience offering medical billing solutions. We have first-rate medical coders and billers to help your facility navigate COVID’s every-changing consequences without losing revenue.

What Is A COVID-19 Long-Hauler?

COVID-19 long-haulers are patients who continue to struggle with the effects of the infection long after recovering. The aftereffects of COVID are still a mystery to medical experts nearly two years after the first case was reported in the U.S. Though it remains unclear exactly why some patients experience long-term symptoms of COVID, while others don’t, one thing is certain: We’re all in this for the long haul.

COVID-19 Long-Hauler Symptoms

What makes COVID long-haulers unique is the unspecificity of their symptoms. While their symptoms are undeniably tied to their original infection, medical experts don’t yet understand why. Long-term effects of COVID can range from mild acute symptoms to severe chronic conditions.

COVID-19 long-haulers face a wide range of long-term symptoms, such as:

• Anxiety and depression
• Brain fog
• Joint and muscle pain
• Fatigue
• Memory loss
• Blood clots
• Lost sense of smell or taste
• Increased heart rate
• Chest pain
• Lung damage
• Organ damage
• Difficulty concentrating
• Fever
• Dizziness
• Cough

Connecting these symptoms back to COVID requires proper documentation from all practitioners, meaning accuracy in preparing these documents is critical.

How Proper Documentation Influences Coding and Billing

Proper patient care can’t exist without clinical documentation. Without accurate documentation of a patient’s medical history, it can be difficult for practitioners to correctly diagnose and treat medical issues as they arise. Clinical documentation directly impacts the care they need. It also influences how medical facilities bill patients and their insurance companies. To minimize denied insurance claims and optimize facility revenue, medical coders must apply the correct codes during the billing process. 

This can be complicated for practitioners and medical facilities caring for COVID long-haulers. With a seemingly endless range of long-term side effects attributed to the original infection, proper documentation is more important than ever before for accurate coding and billing.

Regulatory Changes Muddy the Waters

Medical facilities across the country have been shouldering the brunt of the pandemic, with healthcare workers on the frontlines. Adding to this stress has been an abundance of recent regulatory changes that complicate coding and billing, including:

• Evolving COVID coding guidelines
• Fluctuating effective dates for insurance waivers
• Complicated query forms
• Changing guidance over telehealth modifiers
• New instructions for change of service codes
• New developments surrounding beneficiary cost sharing

There’s no doubt that the lasting symptoms that COVID long-haulers experience complicates the entire documentation, coding, and billing process for medical facilities. Without precise coding, facilities are often left with denied claims that significantly impact revenue. This leaves facilities without the proper funding needed to hire new staff, update medical equipment, invest in innovative technology, and more. 

How Coronis Health Can Help

Navigating the billing and claims process takes time and resources away from facilities that are already struggling to keep up with the many challenges that have arisen during the pandemic. At Coronis Health, we provide data-driven solutions for all your medical coding and billing needs. 

We’re forward-thinking innovators who utilize the latest technology to support and assist the administrative side of your facility. From quick implementation to artificial intelligence (AI), we understand that constant evolution is what drives success. With a team of experienced medical coders, we can ensure accurate coding and billing for your COVID long-hauler patients to increase your internal revenue. 

Our goal is to maximize your profits and reduce your administrative costs so you can continue providing quality care for your patients.

Get Your Free Financial Checkup with Coronis Health

To schedule a free financial checkup with a trusted adviser, contact the experts at Coronis Health today.

from
https://www.coronishealth.com/blog/long-haul-covid-modifiers-what-you-need-to-know/

5 Measurements Your Hospital Should be Tracking to Improve Financial Health

With our 30+ years of experience and industry thought leadership, Coronis Health understands most hospitals struggle to achieve long-term sustainability. Positive financial margins can allow you to maintain a healthy cash flow and invest in new technologies and treatments to provide better patient care. One way to remain financially viable is by closely monitoring the following five indicators that measure your financial health.

1. Aggregate Volume and Provider Utilization Trends

These numbers provide an overall view of your hospital’s finances, offering a quick view for all managers, department heads, and other leaders.

2. Operating Ratios

This includes your expenses as a component of your net operating revenue. You must also monitor labor, supply, and purchased services costs.

3. Labor Costs

Regularly check costs relative to patient volume. Gauge the productivity in each department against their staffing targets, including overall FTE per adjusted occupied bed target in your hospital as a whole.

4. Patient Revenue Indicators

These numbers include your bad debt percentage and net to gross percentage by payer class. Determine if there are shifts in the payer mix that need attention.

5. Liquidity Ratios

These should cover net days in patient accounts receivable and cash collections as a percentage of your net revenue. Determine the steps needed to improve your cash flow.

Ways to Improve Your Hospital’s Performance 

By tracking the above data points and creating and implementing strategic planning, you can create a roadmap for financial success.

Seek Federal Funding 

Many rural hospitals received federal funding to aid them during the crisis. Whether obtained from a PPP loan or the CARES ACT grant, hospitals should adequately manage and control financing, as well as restrict its use, so you do not deplete your financial reserve. In some cases, the federal government will require a hospital to document fund usage. But in any case, hospitals should closely monitor these funds.

Understand the “Why”

The key to improving your hospital’s performance is answering, “Why?” Addressing this question means finding your financial distress’s root cause. The process also enables clear communication of your hospital’s goals and expectations, contributing to achieving your desired changes. By gathering all the necessary information and establishing clear objectives, you become better equipped to target the root of your difficulties.

Stay Competitive

Technology is constantly evolving. You have to keep up to remain relevant and competitive. One crucial way to stay on the cutting edge, especially during the COVID-19 crisis, is telemedicine. Telehealth is rapidly becoming a fixture in healthcare delivery, so every hospital must adapt and take the necessary steps to provide care in a virtual capacity.

Fully Use Resources 

Given these unprecedented changes, loss of revenue, and higher expenses, building new facilities is not a feasible option, but you can maximize your available resources. If you have extra space, find ways to rent it out or use it so you can care for more patients at once. Sometimes, it’s the money that you save that matters. Simple changes in improving your communication systems to ensure better responsiveness or checking and updating equipment and technology to prevent outages can already help streamline your processes and increase patient satisfaction. 

Promote Wellness and Environmental Programs

Wellness programs help keep employees healthy and happy. It’s a means of implementing “self-care” because when healthcare providers take care of themselves, they can better care for patients. A healthy staff also decreases the likelihood of absences and gives your hospital an overall positive image.

Green initiatives can complement your wellness programs too. Your efforts in contributing to a healthier environment will benefit you and your community. While environmental programs may bring upfront costs, they pay off in the long run. According to a guide published by the American Hospital Association, “By trimming just 5 or 10 percent from energy bills, hospitals, and care systems can make a real impact on their finances.”

How Coronis Can Help 

Coronis Health assists hospitals in evaluating processes and workflows. With industry-leading innovations and business solutions, Coronis Health can deliver value to healthcare organizations of all sizes. We allow you to focus on providing patient care while maintaining your independence and financial security. With our 100% transparency guarantee, you see what we see. Our tailored solutions include clear and comprehensive reports that allow you to make the best financial decisions for your hospital. Furthermore, when your hospital frees itself from the time-consuming task of billing, your business can better thrive because all your focus and energy is directed toward your patients. Rewards will grow when all parties work together towards a mutual goal.

Partner With Coronis Health

Just as a doctor’s first priority is the patient, our first priority is making your facility as profitable as possible. Are you ready to achieve better profits and financial health? Contact Coronis Health to request your free financial checkup today.

from
https://www.coronishealth.com/blog/5-measurements-your-hospital-should-be-tracking-to-improve-financial-health/

MIPS Overview & How to Avoid the 9% Payment Adjustment:

What is the Merit-based Incentive Payment System?

The Merit-based Incentive Payment System (MIPS) is one way to participate in the Quality Payment Program. Under MIPS, CMS evaluates your performance across multiple categories that lead to improved quality and value in the healthcare system.

The performance threshold for 2021 is 60 points, which means:

• A MIPS score below 60 points will result in a negative payment adjustment
• A MIPS score above 60 points will result in a positive payment adjustment

2021 Final Performance Threshold & Payment Adjustment

How is MIPS Scored?

The MIPS performance categories have different “weights,” and the scores from each of the categories are added together to give you a MIPS Final Score.

Step 1: Check Your Current Eligibility

MIPS payment adjustments are only applicable to clinicians deemed “MIPS eligible.”

The low volume threshold includes 3 aspects of covered professional services:

Step 2: Select and Perform Your Measures and Activities

Quality Category 40% of MIPS Score

Sixty (60) performance points are needed to earn full credit for the Quality category. Most clinicians must select 6 measures, including 1 outcome/high priority measure, by exploring these measures and collecting data for each measure for the 12-month performance period (January 1- December 31, 2021).

NOTE: Clinicians in SMALL practices automatically receive six points in their quality category if at least one quality measure is reported. This is called the small practice bonus.

Improvement Activity Category 15% of MIPS Score

Easiest category and points to earn! Forty (40) performance points are needed to earn full credit for the improvement activity (IA) category. Practices receive full credit for the IA category when they complete:

• 2 high-weighted activities,
• 1 high-weighted activity and 2 medium-weighted activities, or
• 4 medium-weighted activities

How Should You Submit Data? There are 3 submission types you can use for improvement activities, depending on which submitter type you are. The submission types are:

• Sign in and attest
• Sign in and upload
• Direct submission via API

Promoting Interoperability Category 25% of MIPS Score

One hundred (100) performance points are needed to earn full credit for the promoting interoperability (PI) category. All required PI measures must be reported or excluded. When a measure is excluded, the points are reallocated to a different, assigned PI measure. You must submit collected data for certain measures from each of the 4 objectives measures (unless an exclusion is claimed) for 90 continuous days (or more) during 2021. Additional requirements for this category include use of a 2015 edition certified electronic health record (EHR) and you must provide your EHR’s CMS Identification code from the Certified Health Product List and submit a “yes” to:

• The Prevention of Information Blocking Attestation,
• The ONC Direct Review Attestation, and
• The security risk analysis measure.

Additional help on this category: PI Requirements, Hardship Exceptions, How to Submit Data Links

Cost Category 20% of MIPS Score

You do not have to submit ANY data for this performance category!

For performance year 2021, CMS will use cost measures that assess: the overall cost of care provided to Medicare patients with a focus on the primary care they received, the cost of services provided to Medicare patients related to a hospital stay, and costs for items and services provided.

CMS determines measure achievement points by comparing performance on a measure to a benchmark. CMS calculates cost measure benchmarks using performance data from the performance period, rather than historical benchmarks.

Additional Help on this Category: Cost Quick Start Guide

Step 3: Understand How COVID-19 Relief Efforts Affect 2021 MIPS Payment Adjustments

The COVID-19 pandemic has impacted all clinicians across the United States and territories. However, CMS recognizes that not all practices have been impacted by COVID-19 to the same extent. For PY2021, CMS will continue to use the extreme and uncontrollable circumstances policy to allow clinicians, groups, virtual groups, and APM Entities to apply requests for reweighting of performance categories due to the current COVID-19 public health emergency.

There are two exception applications available to clinicians in PY2021:

• The Extreme and Uncontrollable Circumstances Exception application allows you to request reweighting for any or all performance categories if you encounter an extreme and uncontrollable circumstance or public health emergency, such as COVID-19, that is outside of your control.
• The MIPS Promoting Interoperability Performance Category Hardship Exception application allows you to request reweighting specifically for the Promoting Interoperability performance category if you qualify for one of the reasons identified below. This application is available for the following specified reasons:
  • You’re a small practice
  • You have decertified EHR technology
  • You have insufficient Internet connectivity
  • You face extreme and uncontrollable circumstances such as disaster, practice closure, severe financial distress or vendor issues
  • You lack control over the availability of CEHRT

What Happens If Your Application is Approved?

If your application is approved, you don’t have to report for the requested MIPS performance category or categories, and those categories will be reweighted.

• Application deadlines are December 31, 2021 at 8PM ET.

Step 4: Report Categories Based on YOUR Circumstances:

The MIPS 2021 final rule is for calculating the MIPS payment adjustment for your composite score. Remember you only need 60 points to avoid the negative payment adjustment of -9% in 2023:

Scenarios to Avoid the Adjustment include:

• Scenario 1: You do not have an EHR. If you do not have a 2015 edition certified EHR, you CAN still participate in MIPS. You can report the Quality and IA categories and apply for a PI Hardship Exception, because you are a SMALL practice.
• Scenario 2: You have an EHR. If you have a 2015 edition certified EHR, you can submit data in the Quality, IA and PI categories or just the Quality and IA categories, if you submit a PI Hardship Exception application and it is approved.
• Scenario 3: The PI category is automatically reweighted. If you are a clinician type listed below, CMS automatically re-assigns the PI category points to the Quality category. As a result, you only need to report the Quality and IA categories to earn 60 points.

• Scenario 4: The PI category is reweighted due to an approved PI Hardship Exception Application. If you are a clinician or group and one of the following circumstances applies, you can submit a PI Hardship Exception application. If the application is approved, you only need to report the Quality and IA categories.

Step 5: Submit Your Data

• Submit data yourself or with the help of a third-party intermediary, such as a Qualified Registry or Qualified Clinical Data Registry (QCDR), between January 3 and March 31, 2022.
• Visit the Quality Payment Program Resource Library  to review the lists of CMS-approved Registries Qualified Registries  and QCDRs.

Step 6: Review your Feedback

Review your preliminary feedback, available once data is submitted. Review your final performance feedback and payment adjustment information in July 2022.

When you successfully submit a valid quality data code (QDC), the RA/EOB will list the RARC code N620 which means that the QDC got to our NCH database.

• If you bill with $0.00 charge on a QDC line item, you’ll get an N620 code on the EOB. N620 says: Alert: This procedure code is for quality reporting/informational purposes only.

Questions:

• Please visit the Quality Payment Program web portal – https://qpp.cms.gov/
• Contact CMS – call the Quality Payment Program Service Center at 1-866-288-8292

from
https://www.coronishealth.com/blog/mips-overview-how-to-avoid-the-9-payment-adjustment/

How Does Medical Billing and Coding Increase Cash Flow?

Accurate medical billing and coding are critical aspects of an optimized revenue cycle system. Proper billing and coding are not only necessary in terms of compliance, but are also crucial in reducing claim denials and rejections.

When you take a more proactive approach to your billing process, you not only get to prevent problems before they happen, but also maximize your cash flow. Coronis Health understands how fine-tuning your facility’s medical and coding practices can help better ensure proper reimbursements for your facility so you can continue delivering quality care to your communities. With over 100 years of combined experience in various niches, including rural hospitals, we offer customers tailored solutions and high-touch relationships you won’t find at a “Big Box” medical billing company. We recognize the tremendous need for your services and have made it our mission to assist rural facilities like yours in achieving your financial goals. Below, we share simple ways you can improve your medical billing and coding processes so that you can increase your revenue and remain financially independent.

Stop Revenue Drain by Keeping Up with Changes 

Claims that your facility does not file correctly will, of course, not be paid. It is essential to ensure all codes are accurate and that you meet all the critical requirements, including compliance with the most current healthcare laws, insurer contracts, and federal and state regulations. Failure to comply with medical billing and coding changes will only result in errors, delayed submissions, and ultimately revenue loss. Practices must responsibly delegate the job of keeping up with rules, regulations, and deadlines to ensure compliance. And by staying on top of changes in the healthcare industry, your billing process can remain accurate and efficient.

Scrub Claims to Minimize Rejections 

You must be conscientious about claim preparation. Scrub claims to ensure they’re clean, meaning the procedure, diagnosis, codes, and other data are present, complete, and accurate before submission. This minimizes rejections and reimbursement delays. A little bit of management and efficiency up front will go a long way in reducing claim denials, and fewer rejections will lead to an accelerated cash flow.

Go Online for Faster Payments

The amount of time spent making collections will impact your facility’s cash flow. Manual collections involve lots of paperwork, mail and postage, and staff overtime—all of which lower your operational profits daily. By adopting information technology such as online bill pay, you create a paperless and interconnected system that can enable better accuracy and speed. Online bill payment services allow your patients to pay their bills at home, day or night, securely and conveniently. This often leads to faster payments and quicker revenue influx while you reduce costs associated with paper statements.

Improve Collection Rates to Increase Revenue 

The collection process is time-consuming and complicated because of the number of ways that procedures can go wrong. From inaccurate patient information to coding errors and processing delays, these mistakes can lead to denials. There’s also the fact that you must deal with insurance companies to keep track of any unpaid claims.

For your facility, outsourcing won’t just free up more time for patient care. It will allow you to gain the ability to identify and implement improvements necessary for enhancing revenue capture. An experienced medical billing company can adequately manage all denials and appeals. Their knowledgeable and professional staff can develop collecting strategies designed to minimize your outstanding AR, reduce denials, optimize collection, and improve the billing process.

Outsource Your Medical Billing to Increase Your Revenue

Unless you have staff members who are experienced in billing and are trained in searching for errors and correcting them, there is a good chance you are losing revenue. At Coronis Health, not only do we take care of medical billing, but we also work toward improving every part of your revenue cycle. Our forward-thinking team of experts looks below the surface. 

We work on identifying and helping you fix the workflow issues that negatively affect your reimbursements, including the front desk, provider medical coding, practice management (PM) system optimization, account management, and extensive denials management. By going beyond the billing department, we can identify the source of cash leaks then work with your team to stop them at the source. Our goal is to remove the burden of medical billing so you can enjoy a healthy bottom line that leads to the growth and expansion of patient services. 

Connect with Coronis Health Today

We know navigating today’s healthcare environment can be daunting. With many reforms on the horizon, now is the time for your facility to optimize its revenue cycle performance. To learn more about the best practices for medical billing and coding, contact Coronis Health to request your free financial checkup.

from
https://www.coronishealth.com/blog/how-does-medical-billing-and-coding-increase-cash-flow/

5 Benefits of Revenue Cycle Management in Healthcare

The revenue cycle begins with the scheduling of an appointment and ends with the payment collected for services rendered.

It sounds simple, but there are crucial steps in between that if not performed accurately, may delay payments. And with coding errors, data duplication, or missing information, you may lose revenue that your facility depends on to stay afloat. Implementing efficient revenue cycle management is an invaluable component of your facility’s success.

Coronis Health is composed of the top medical billers in the country pooling their global resources to bring customers the best in medical billing and revenue cycle management. We understand the value of a structured revenue cycle management system, which is key to helping your facility operate more smoothly and optimize your cash flow. Below, we list 5 benefits of effective revenue cycle management in healthcare.

1. Optimize Workflow to Maximize Cash Flow

When you automate your process, you can bring efficiency to the system so payments can be made in a timely manner, while minimizing errors and denials and improving your cash flow. If you utilize an Electronic Health Record (EHR) system, for instance, you can simplify your facility’s workflow. And by improving tasks such as scheduling, coding and billing, and payment processing, you get to achieve a more effective and efficient system that saves you time for non-administrative tasks like caring for your patients, allowing you to do what you do best and meet your revenue goals.  

2. Streamline Processes to Lighten the Load

A facility that runs like a well-oiled machine will not only ensure steady collections that make your organization financially viable but also lowers the administrative burden on your staff. An electronic workflow, in particular, can help streamline all system facets, such as coordinating front and back communication, concluding a patient’s journey with timely payments, and eliminating lost paper documentation. This frees up more time for you to focus on delivering quality care.

3. Enhance Patient Experience by Improving Touchpoints 

Skilled revenue cycle management professionals and the right technology will contribute to an efficient process that minimizes standard billing and coding errors. This means simplifying the process and improving all the touchpoints involved in the patient experience. This reduces unnecessary stress to your patients, resulting in higher patient satisfaction –which you know is a factor in assessing the quality of care in hospitals. More importantly, patients benefit from improved care as your staff can devote more time to focus on them.

4. Better Claim Scrubbing for Fewer Denials

Denials are the result of payment claim errors. Optimized revenue cycle management brings accuracy to your facility’s system, leaving little room for mistakes. By getting coding right the first time, you get to reduce claim denials and receive your reimbursements faster. 

5. Faster Collections Process to Improve Revenue 

When you combine the right set of software solutions with automation tools, all the time-consuming tasks such as data collection, insurance verification, and coding will take significantly less time compared to doing them manually. By automating the cycle’s steps, from eligibility checks and payment follow-ups to data charge entry, you are able to expedite the entire process. And when you streamline tasks, you become more efficient and effective as you provide a more straightforward system to your administrative staff and fellow physicians, resulting in faster collections and improved cash flow.

How Coronis Can Help

Revenue cycle management is every step of the claim lifecycle, and Coronis looks at every portion of your billing process as an opportunity to increase revenue by identifying and then correcting the root cause of any problem. We understand how medical billing and collections are critical to the survival and growth of your facility, and patient collections are becoming a daunting task for your staff. We can work with you to create a process for collecting at the front and back end of the revenue cycle, and even provide staff to take care of collections. We are equipped to help you manage various revenue cycle problems, no matter what you might be facing. Our top revenue cycle management can help your facility find lost revenue, lower your time in AR, close aged payments, and handle collections efficiently. 

Coronis Health provides tailored and flexible solutions to meet the needs of your facility. With more than 100 years of combined experience in various niches including hospitals of all sizes, our experienced staff understands the importance of working down AR. As technological innovators, we utilize the latest software and employ actionable intelligence so we can assist you in getting your AR under control and most importantly, get you paid.

As a devoted healthcare revenue cycle management and medical billing company offering global capabilities and specialized solutions, we can make your workflow and processes more transparent and controllable. Our accurate coding and billing practices along with financial analysis and reporting will lead to your facility’s improved performance. We want to create endless opportunities for your facility and realize your full potential by helping you see how an efficient revenue cycle management process can benefit your facility.

Let’s Work Together To Build the Best Revenue Cycle Management System

Are you ready to increase your revenue, reduce denials, and accelerate your cash flow? Contact Coronis Health to learn more about how our data-driven solutions and consulting services can help optimize your revenue cycle. You may also request your free financial checkup today.

from
https://www.coronishealth.com/blog/5-benefits-of-revenue-cycle-management-in-healthcare/

Best Practices When Outsourcing Medical Billing

Whether a rural hospital or a surgical center, any healthcare organization’s primary focus is quality patient care, but for your facility to achieve success, you must prioritize financial health too.

A healthy revenue cycle can help your facility grow and better serve patients. Outsourcing medical billing can help you achieve the most accurate and efficient billing process possible and enhance financial performance. But if you decide to outsource, how do you choose the right company?

With 100+ years of combined experience, Coronis Health knows the complexities of the healthcare system and the equally complicated revenue cycle management process that goes with it. We are fully aware of the numerous benefits of outsourcing medical billing, and we understand how shifting your facility’s necessary process off-site can be challenging. Below, we offer valuable information about why outsourcing medical billing may be your most important financial move, as well as tips for choosing the right medical billing company.

Why Outsourcing Might Be the Right Choice for You 

Rural hospitals may be ideal candidates for medical billing outsourcing because they often struggle with organizational issues and have insufficient resources and workforce to meet those challenges. When you outsource medical billing, you can more easily prepare for the following situations.

• You are running a new or growing facility: Like other startup companies, you will need to wear many hats. This means you have to run billing processes yourself. If you have a growing organization, you need a skilled and experienced staff who can efficiently handle a growing volume of claims. Whether new or growing, your facility can benefit from a professional medical billing provider that can cost-effectively address your problems while helping you meet your financial objectives.
• You want to focus on your expertise: You studied and trained to become a healthcare provider and might not have sufficient experience on the business side. You want to spend more time focusing on your patients rather than on tedious paperwork. If you do not have the time and expertise to efficiently and accurately handle administrative tasks, it only makes sense to relieve yourself of those duties and let a professional medical biller do what they do best.
• You don’t have time to adapt to new regulations: Constant regulatory changes can put intense pressure on your facility. In effect, your medical billing process can suffer when your staff struggles to keep up with new regulations. You can avoid regulatory headaches by allowing medical billing providers to support your revenue cycle management, improving collections, and enabling you to focus on patient care.

5 Things to Look for in a Medical Billing Company 

You have to outsource wisely, of course. Who you choose as a partner will significantly impact your financial health and independence. Here are five factors to consider when selecting a medical billing provider:

1. HIPPA compliant

You have a direct responsibility to address healthcare privacy and security. By outsourcing to an experienced company with HIPAA (Health Insurance Portability and Accountability Act) compliance, you get peace of mind knowing that the company’s practices ensure the confidential handling of a patient’s health information as well as the protection of their legal rights. In addition to HIPPA, your outsourcing provider should uphold other laws, medical regulations, and guidelines. This helps you adhere to high standards of care, ethics, reduce exposure to fraud, and improve your revenue cycle overall.

2. Reputation

In any type of business, you only partner with people you can trust. This is why reputation means everything and a complete and comprehensive background check is necessary. The first step is narrowing the playing field to find a suitable company, then begin doing your research. Ask trusted colleagues for referrals. Ask medical professionals because you are more likely to receive reliable information from a trusted source rather than anonymous consumer reviews online.

3. Transparency

Even if you’ve already outsourced your medical billing process, you still want to know the status of your claims. It’s still your business, after all. Your billing specialist must provide you with regular and transparent reports that reflect what they’ve been handling on your behalf. This does not mean having to micromanage but instead overseeing the billing process to ensure efficiency.

4. Expertise

You want billers with expertise in your specialty to ensure correct billing. Whether you are a big city hospital, a rural hospital or a private practice specializing in pediatrics or cardiovascular health, you will have billing and coding challenges unique to your facility and specialty. This means you will need someone who knows your facility’s coding, compliance, and documentation requirements. Otherwise, you may suffer from coding inaccuracies, claim denials, and low cash flow, defeating the purpose of outsourcing in the first place.

5. Measurable Results

By outsourcing medical billing, you can achieve a more controlled approach to revenue cycle management. This proves to be more sustainable because when your medical billing process is up to date, efficient, and free of human error, you can receive payments in a shorter amount of time. If you also have transparency from your medical biller, the comprehensive performance reports will keep you informed of critical financial numbers. This also means you maintain control of your revenue cycle management without having to perform the tasks yourself.

Why Coronis is the Best Option in Medical Billing Outsourcing

Coronis Health uses industry-leading technology combined with high-touch relationship-building to allow facilities to focus on patient care, maintain financial independence, and cultivate financial success. We offer specialized financial and medical billing solutions to all types of healthcare organizations, including rural hospitals, surgical centers, FQHCs, SNFs, and LTCs.

Not only do we take care of billing, but Coronis Health also works to improve every part of your revenue cycle. Our forward-thinking team of experts looks below the surface, identifying and helping you fix the workflow issues that negatively affect your reimbursements and provide tailored solutions to get you back on track and restore your bottom line. By going beyond the billing department, we can identify the source of cash leaks and work with your team to stop them at the source. Our revenue cycle/medical billing team stays up to date on medical coding rules and guidelines, so you don’t have to. We continually monitor claims for denials and compliance issues stemming from medical coding errors. We work to remove the burden of medical billing so you can enjoy a healthy cash flow that leads to the growth and expansion of patient services.

Let Coronis Health Empower Your Facility

Outsourcing your billing and coding is one of the most significant practice management decisions your facility will ever make. Coronis Health employs top medical billers in the country, pooling their global resources to bring customers the best in medical billing and revenue cycle management. We’ll work with you to build data-driven solutions that meet your specific needs, allowing you to get back to treating patients. To learn more, contact Coronis Health to request your free financial checkup.

from
https://www.coronishealth.com/blog/best-practices-when-outsourcing-medical-billing/