Is Your Organization Leaving Money on the Table?

Across the U.S., unpaid emergency transport bills are costing counties millions of dollars each year. For example, in 2017, Commissioners in Palm Beach County, Florida, approved writing off $11.8 million in “uncollectable emergency transport patient accounts.”1 Similarly, the city of Berkeley, California, reported a five-year average of uncollected ambulance fees amounting to $2.6 million per year.2 Soft billing practices, lack of billing transparency and increasing out-of-pocket expenses as a result of high deductible plans have all contributed to the growing debt across EMS agencies. With the passing of the Bipartisan Budget Act of 2018 (H.R. 1892) and with it, the Ambulance Cost Data Collection initiative, EMS agencies have become wary of increased scrutiny over their business operations and have begun taking a more critical look at their performance, including their approach to billing and collections. In contrast to the traditional billing operations that once serviced EMS, revenue cycle management (RCM) addresses the common gaps that contribute to revenue loss throughout the transport billing process—from dispatch to cash posting. By leveraging RCM best practices, EMS organizations can optimize quality of care while still addressing payor nuances and maximizing revenue. 4 Commons Gaps That Hinder Patient Engagement & Lead to Revenue Loss 1. Regulatory changes and evolving payer contract requirements make it difficult to stay on top of required documentation. I...
Source: JEMS Administration and Leadership - Category: Emergency Medicine Authors: Tags: Exclusive Articles Administration and Leadership Source Type: news