The hospice billing process, from managing NOEs and NOTRs to preparing, sending, and collecting Medicare reimbursements, can be complex and often involves a lot of moving pieces. In the past, keeping track of all of the information required to file claims has been a manual process. In 2021, hospice billers can utilize technology to streamline these manual processes and create alerts for claims with missing or incorrect information.
Tools to Manage NOEs and NOTRs
New technology allows hospice EMRs and DDE to communicate, eliminating the need for billers to log in to DDE. This communication eliminates the need for billers to log in to multiple systems when submitting NOEs and NOTRs. Instead, billers can simply review the information populated by their EMR and submit NOEs and NOTRs with the click of a button. No need to log in to DDE. Furthermore, because EMRs are able to detect when information is missing, EMRs can catch errors early, reducing the likelihood that billers will need to resubmit.
See Live Status of Claims
In 2021, hospice billers should look for ways to manage their claims all in one system. This starts with being able to see the live status of claims. By seeing the status of claims in their EMR system, billers can correct any denied claims quickly. This allows billers to more accurately project cash flow and make any adjustments required by Medicare to reduce the time it takes to collect reimbursements.
Correct Billing Errors
Managing claims within a single dashboard gives billers the ability to identify if any information is incorrect or missing. Hospice EMRs can look at claims and flag errors or missing information for the biller. This means that billers can rely on technology to identify errors that may cause a claim to be denied BEFORE they submit the claim. Correcting claims errors before they’re submitted ensures that hospices get reimbursed more quickly and increases a hospice claim acceptance rate.
Financial Projections Up To 8 Days in Advance
The tools above enable billers and financial managers to get a more accurate forecast of cashflow. In fact, because of the integration with DDE, hospices can forecast reimbursements up to 8 days in advance. Hospice billers are able to see when their reimbursement will be paid and the amount of that reimbursement. This gives billers a more accurate financial model and allows them to plan their spending accordingly.
How Much Could You Save With Automated Billing?
By automating the billing process, hospices can decrease their claim denial rate to under 1%. On average, hospice claims denial rates are between 5%-10%.
In addition, automated billing processes allow hospices to easily correct claims errors they may have otherwise overlooked.
Want to see how? Contact mumms to see how much Hummingbird’s billing module, ClearPay, is allowing hospices to collect.