If your long-term post-acute care (LTPAC) facility’s accounts receivable (AR) aged 90 days and greater exceeds 15% of total AR, your facility could be facing a severe cash crunch—especially as COVID-19 continues ravaging occupancy rates, census, case mix and, consequently, revenues.
Richter’s time-tested AR Recovery and Resolution will deliver results.
Our project scope includes:
- Prioritizing accounts by amount and age and analyzing each account for accuracy
- Completing bookkeeping adjustments to correct errors and posting upon approval
- Billing/re-billing outstanding charges for all payers
- Compiling and monitoring your organization’s claim denial appeals
- Performing denial management procedures to obtain full payment on claims
- Identifying accounts for referral to a collection attorney
- Completing write-offs for accounts deemed uncollectible (and providing complete documentation to substantiate said write-offs)
- Validating and processing refunds on credit balances
- Documenting all work in a single document
- Reviewing progress regularly with selected management and escalating accounts that need additional support
Enhanced Profitability – Plus Insights and Strategies to Help Ensure Future Success
Richter’s AR Recovery and Resolution will also generate relevant and usable insights on all of your organization’s AR processes:
- What’s working
- What merits adjustment
- How much your current processes could be costing you
- What types of improved processes can help ensure timely AR payments down the line
To learn more about AR Recovery and Resolution and how it can help your facility reach new heights of efficiency and profitability, please complete the form on this page—a Richter representative will reach out to schedule your free, no-obligation discovery call.