In this complex landscape of healthcare, finding revenue post-discharge can seem like looking for a needle in a haystack. Patients may leave the hospital uncertain about their insurance coverage which leads to potential billing issues and financial strain on the patient and the hospital. However, comprehensive post-discharge revenue recovery services can streamline revenue collection, enhance coverage discovery, and optimize the patient-provided data resulting in increased revenue.
Understanding Post-Discharge Revenue Recovery Services
The coverage discovery and eligibility post-discharge process involves identifying and verifying patients’ insurance coverage after they leave the healthcare facility after all other internal and external options have been exhausted. These services leverage advanced technology and data mining to uncover coverage and eligibility opportunities (both commercial and government payors). By systematically verifying eligibility post-discharge, providers can proactively address billing issues and minimize revenue leakage.
The Benefits
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Improved Revenue Collection
Identifying coverage opportunities that have been missed during the initial billing process, boosts healthcare providers’ revenue and minimizes financial losses.
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Enhanced Patient Experience:
Patients are often burdened with unexpected medical bills and confusion about their insurance coverage. Providing clarity on coverage and financial responsibilities, providers alleviate stress and improve patient satisfaction.
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Increased Revenue Cycle Efficiency:
Adding a safety-net vendor behind your internal and external processes increases revenue and improves overall efficiency before patient accounts are sent to bad debt or other hospital debt collection solutions.
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Case Study – $1.8 Million Appeal
A Georgia hospital did not meet the requirements to qualify for 340B DSH reimbursement for one fiscal year, short nearly 225 days. Utilizing post-discharge revenue recovery services, the hospital was able to add an additional 320 IP days and recover nearly $1.8 million dollars. Read the entire case study at https://2020rmp.com/340b-dsh-reimbursement-case-study/.
Easy Implementation
Healthcare providers can seamlessly integrate post-discharge revenue recovery services into their revenue cycle management workflows. Partnering with reputable service providers, and leveraging advanced secure technology ensures accurate eligibility verification and optimal reimbursement.
Post-discharge coverage discovery and eligibility services are invaluable tools for hospitals seeking to optimize revenue, enhance patient experience, and improve revenue cycle efficiency. By harnessing the power of these services, hospitals can write off less and collect more with confidence, ensuring financial sustainability and delivering exceptional patient care.
20/20 Revenue Maximization Partners (20/20 RMP) captures more net revenue by reducing uncompensated care and bed debts with our secure post-discharge revenue recovery services. Our coverage discovery and eligibility services provide up to a 12% reduction in uncompensated care and 10-15% discovered coverage after your in-house or outsourced processes. We offer 100% contingency-based pricing; you only pay when we recover lost revenue for your organization. To learn more about our services contact us at info@2020rmp.com or visit https://2020rmp.com/contact/.
