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We recently had the pleasure of sitting down with our Executive VP of Revenue Cycle Management, Aliza Shachar. In this Q&A, Shachar shares how she has improved the revenue cycle management (RCM) process for long-term care operators while simultaneously improving our own internal efficiencies. <\/p>\n\n\n\n
Our partners rapidly see greater results in their billing and collections thanks to our RCM services, and that\u2019s all due to the hard work Shachar has done creating highly-capable teams armed with incredible technology. This article explains how this is possible. By cultivating teams made up of multiple specialists, we have an unmatched ability to punctually handle a large number of facilities\u2019 claims.<\/p>\n\n\n\n
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Q. How does LTC Ally help operators improve their RCM?<\/strong><\/p>\n\n\n\n On the Accounts Receivables end, we improve revenue for facilities by first taking control of their back office functions. This means they can step back and not have to be so involved in the nitty gritty and know they can rely on us and the tremendous resources we have at our disposal.<\/p>\n\n\n\n One of the greatest things we bring to the table is our capacity to handle a tremendous volume of claims, thereby allowing us to dive deep into trends, global issues, and regional changes. It allows us to invest in resources that no other company like us has access to. That\u2019s what sets us apart and allows us to get great results for our partners.<\/p>\n\n\n\n <\/p>\n\n\n\n Q. What does the onboarding process look like for a customer who\u2019s new to LTC Ally?<\/strong><\/strong><\/p>\n\n\n\n It\u2019s a truly seamless process that we\u2019ve been doing for a long time. In general, we ask for 60 days, because there are some things that are outside of our control. For example, if something goes wrong in the 11th hour, we have the time to deal with that.<\/p>\n\n\n\n Part of how we\u2019ve made this process seamless is that we have teams dedicated solely to onboarding. They are hyper-focused on the client\u2019s new facilities, going through their checklists, reaching out to the point of contact on the owner\u2019s side, and fielding whatever information they need from the seller. These teams coordinate whatever needs to be done until the go live<\/em> date when we\u2019re up and running.<\/p>\n\n\n\n <\/p>\n\n\n\n Q. What kind of technological solutions set LTC Ally apart from other back office service providers?<\/strong><\/strong><\/strong><\/p>\n\n\n\n Technology is our biggest advantage. We have proprietary technology that we\u2019ve created over the last several years. We built an Aging and Tracking program that has direct feeds from the various receivable softwares we use. This is where we work each balance up until the point where payment is received in full. We have these programs connected to an internal Task Manager Dashboard so that we are always working with the most up to date and accurate information.<\/p>\n\n\n\n We created the dashboard in a fashion that enables us to prioritize claims, track progress of notes from follow-ups, and have driving indicators that indicate the severity of the balance based on dollar amount or how aged, etc. Having all the information in one place makes things even more efficient and we are able to monitor progress. It also improves transparency in the process and means we can adapt to our clients\u2019 needs if or when they change.<\/p>\n\n\n\n <\/p>\n\n\n\n Q. What do the people at LTC Ally bring to the table that help LTC operators with their RCM?<\/strong><\/strong><\/strong><\/strong><\/p>\n\n\n\n Our management and training processes are what makes our RCM services really shine. When it comes to our training process, we can practically take anyone and bring them up to the expert level our customers rely on. Depending on what part of the billing process they\u2019re working on, we train them to be specialists in that particular process. <\/p>\n\n\n\n On the management front, we have a tremendous number of people who specialize in individual payers. For example, we have specialists who only focus on Medicare and Managed Care. Over the last two years, Medicare has changed tremendously\u2014rules, regulations, processes\u2014and you have to have all that knowledge at your fingertips to get the best outcomes.<\/p>\n\n\n\n Our specialists are up to date with constantly changing regulations, whether Federal or state, for every payer. They\u2019re reviewing every account we have in every state for each individual payer and making sure everything is accurate and running correctly. That\u2019s what our people bring to the table that really enhances operators\u2019 facilities and their financial outcomes.<\/p>\n\n\n\n <\/p>\n\n\n\n Q. What is one particular way that you can help a facility bring in more cash?<\/strong><\/strong><\/strong><\/strong><\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n One of the key things we do is the pre-approval process before a facility admits a patient, which reduces the chance of operators being exposed to non-payers in the building, resulting in uncollected balances. We also make sure facilities are capturing all billable items. Now, for example, that includes the COVID vaccine and testing.<\/p>\n\n\n\n Another benefit we offer is that all of our divisions work in tandem. So, when a client uses our Finance, Receivables, and Contracting teams, they work hand-in-hand. If a situation were to come up that an operator needs cash to come in faster than usual\u2014perhaps there were extra expenses that month\u2014we would work hand-in-hand to see what more there was to do to bring in more cash and at a faster rate, if possible. This is especially relevant during a change of ownership (CHOW). Coordination needs to be made with Medicare or Medicaid and insurance companies to avoid reimbursement delays. All of this together allows operators to breathe a little easier. <\/p>\n\n\n\n Since we have so many different back office services for long-term care operators, it makes it very convenient for clients to come to us and have us handle more of their processes in one place. Every division works collaboratively to get the best outcomes in the most efficient way, keeping facilities running smooth with more cash flow.<\/p>\n\n\n\n <\/p>\n\n\n\n <\/p>\n\n\n\n LTC Ally provides the most comprehensive back office services suite in long-term care. Our back office services include:<\/p>\n\n\n\n Our growth advisory services help long-term care operators grow their portfolios and seamlessly bring new facilities into operation through rapid licensure and handling all state and Federal change of ownership and credentialing requirements. Our financial advisory services streamline financial analysis and reporting, cement lines of credit, and work with banking partners with great care. Operators enjoy more peace of mind knowing their finances are in safe hands.<\/p>\n\n\n\n Speak To One of Our Experts<\/a><\/strong><\/p>\n\n\n\n Related Articles:<\/strong><\/p>\n\n\n\n <\/p>\n\n\n\n LTC Ally provides full suite back office and financial services for skilled nursing and long-term care providers. We assist our partners with everything from revenue cycle management and collections to acquisitions and change of ownership advisory services. Our financial and healthcare experts have helped long-term care providers manage every aspect of their back office and optimize their processes since 2006.<\/em><\/em><\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Executive VP of revenue cycle management Aliza Shachar shares her expertise on long-term care accounts receivable and collections in this exclusive Q&A.<\/p>\n","protected":false},"author":1,"featured_media":3808,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[22],"tags":[27,18,19,31],"class_list":["post-3611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","tag-back-office-solutions","tag-qa","tag-revenue-cycle-management","tag-thought-leadership"],"yoast_head":"\n
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