{"id":3303,"date":"2020-09-15T07:00:16","date_gmt":"2020-09-15T07:00:16","guid":{"rendered":"http:\/\/www.ltccs.com\/?p=3303"},"modified":"2022-04-27T14:56:01","modified_gmt":"2022-04-27T14:56:01","slug":"the-top-3-causes-for-aging-ar-in-snfs","status":"publish","type":"post","link":"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/","title":{"rendered":"The Top 3 Causes for Aging AR in SNFs"},"content":{"rendered":"<h1><span class=\"ez-toc-section\" id=\"Wheres_the_Cash_The_Top_3_Causes_for_Aging_AR_in_SNFs\"><\/span>Where\u2019s the Cash? The Top 3 Causes for Aging AR in SNFs<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>&nbsp;<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/#Wheres_the_Cash_The_Top_3_Causes_for_Aging_AR_in_SNFs\" >Where\u2019s the Cash? The Top 3 Causes for Aging AR in SNFs<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/#Here_are_the_top_3_most_common_causes_we_find_for_why_even_highly_experienced_accounts_receivables_teams_are_collecting_less_than_they_should\" >Here are the top 3 most common causes we find for why even highly experienced accounts receivables teams are collecting less than they should.<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/#They_Dont_have_Time\" >They Don\u2019t have Time<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/#They_Dont_Know_How\" >They Don\u2019t Know How<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/#They_Dont_have_the_Right_Tools\" >They Don\u2019t have the Right Tools<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n\n<p>As a team of outsourced AR professionals, we get asked this question constantly here at <a href=\"http:\/\/ltccs.com\/solutions\/our-divisions\/collections\">LTC Collections<\/a>.<\/p>\n<p>Due to the nature of a healthcare facility, revenue streams mainly from insurance companies and government healthcare systems, like Medicaid and Medicare. That is why your medical billing team\u2019s level of expertise and efficiency will directly correlate with your expected cash flow. Both having a team of professional experts and ensuring they are given the right tools is integral to maintaining the fiscal health of your facility.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Here_are_the_top_3_most_common_causes_we_find_for_why_even_highly_experienced_accounts_receivables_teams_are_collecting_less_than_they_should\"><\/span>Here are the top 3 most common causes we find for why even highly experienced accounts receivables teams are collecting less than they should.<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"They_Dont_have_Time\"><\/span>They Don\u2019t have Time<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>Probably the most common factor we\u2019ve seen is lack of time. Your team needs to handle setting up new admissions, keeping up with current billing needs and addressing coverage issues that arise. At the same time, new claims keep coming in and take priority over old claims. Your staff is overworked, trying to stay afloat, and they don\u2019t have the time to follow up on old, troublesome claims. It is a vicious cycle because the longer claims go uncollected, the harder it gets and more time it will take to recoup payment.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"They_Dont_Know_How\"><\/span>They Don\u2019t Know How<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>Of course, you\u2019ve made sure to invest in experienced medical billers, but here at LTC Collections we\u2019ve found that a surprising number of receivables specialists may not understand all the codes and languages payers use in reference to a claim. There is a large, constantly growing number of codes to keep track of and the language used by the insurance companies can be hard to understand.<\/p>\n<p>A common example we\u2019ve seen when working on collecting aging AR for a client is a misunderstanding of the term \u201cservice not covered\u201d. While this language can indicate a denied claim, it should not be immediately taken at face value. It is imperative to follow-up being that it can sometimes just mean that the claim was billed the wrong way.<\/p>\n<p>&nbsp;<\/p>\n<h2><span class=\"ez-toc-section\" id=\"They_Dont_have_the_Right_Tools\"><\/span>They Don\u2019t have the Right Tools<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&nbsp;<\/p>\n<p>As we mentioned above, the coding and guidelines for medical billing are complex. This is where the right technology can be a tremendous asset. Investing in a robust software can automate the process and allow your team to stay on top of this information more efficiently.<\/p>\n<p>Moreover, most <a href=\"https:\/\/technologyadvice.com\/long-term-care\/\">long term care billing software on the market<\/a> is not created to help employees track aging A\/R. This can be problematic, causing uncollected receivables to fall lower and lower under the radar as they age.<\/p>\n<p>&nbsp;<\/p>\n<p>Having a dedicated team of quality, efficient professionals can help you collect more, increasing your cash flow and improving your facility\u2019s fiscal health. Here at LTC Consulting\u2019s Collections department, we take on the recoupment of all aging AR and assist your team in solutionizing to get back on track.<\/p>\n<p>&nbsp;<\/p>\n<p><em>The <a href=\"http:\/\/ltccs.com\/solutions\/our-divisions\/collections\/#.XxCn9yhKiUk\">LTC Collections<\/a> department services Skilled Nursing Facilities nationwide. Operated by a group of dedicated industry experts, we help clients reach new levels of profitability by efficiently collecting high ratios on outstanding AR receivable balances. The Collections department undertakes the recoupment process of outstanding Medicare, Medicaid and HMO\/Managed Care receivable accounts for skilled nursing facilities. With unrivaled collection rates, our contingency-based and risk-free model can help your facility dramatically increase cash flow.<\/em><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Where\u2019s the Cash? The Top 3 Causes for Aging AR in SNFs &nbsp; As a team of outsourced AR professionals, we get asked this question constantly here at LTC Collections. Due to the nature of a healthcare facility, revenue streams mainly from insurance companies and government healthcare systems, like Medicaid and Medicare. That is why <a href=\"https:\/\/ltcally.com\/articles\/the-top-3-causes-for-aging-ar-in-snfs\/\" class=\"more-link\">&#8230;<span class=\"screen-reader-text\">  The Top 3 Causes for Aging AR in SNFs<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":3309,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[5,36,7],"class_list":["post-3303","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-accounts-receivable","tag-billing","tag-collections"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Top 3 Causes for Aging AR in SNFs | Articles | LTC Ally<\/title>\n<meta name=\"description\" content=\"Where&#039;s the Cash? 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