High-quality care services at a significantly cheaper cost than hospitals are offered by skilled nursing facilities (SNFs), which is driving up demand from investors and patients alike. However, care providers are also faced with the challenge of providing clinical, billing, and coding services hourly. Skilled nursing facility billing, coding and collection is not easy, and appropriate billing is essential for your revenue.
Now you might wonder, is there a viable way to cut the expenses while increasing the service efficiency without impacting your revenue? Well, outsourcing SNF billing is the best possible answer. However, you must not hire a billing agency randomly. Hiring an agency that can assist your clinic or skilled nursing facility in expanding significantly and that not only comprehends the nuances of medical billing but also handles it flawlessly is essential.
Before working with a firm that offers skilled nursing facility billing and coding services, one should make sure to ask the following questions.
- In the skilled nursing facility billing domain, what is the overall experience ?
You must know how long the company has been operating in this field. With this line of questions, you can also lead to the queries like their customer retention rate.
- What are the service costs?
This is an essential question that pops up to everyone’s mind when it comes to outsourcing a billing company. Usually, a medical billing company collects a percentage of the net revenue.
Along with this learn about the data management fees, start-up fees, termination fees or any hidden surprises. Go for the company that maintains 100% transparency with the complete billing process.
- Have they worked with similar sized, similar scope, or similar specialty practices as yours?
It is important that the SNF billing and coding company completely understands your requirements and drives your revenue. In fact, you can ask for references or testimonials from previous or existing clients.
- Are they HIPAA compliant?
Now this is of tremendous importance considering the legal aspect of the business. As regulations like HIPAA and HITECH ensure the patients’ information security, they add credibility to the services.
- 5. Do they support denial management?
Denials are inevitable, but when you hire a company for billing services for your SNF, the claim denials should be decreased. Furthermore, you should learn their approach to denial management and make sure you understand that as it is crucial for your revenue growth.
Along with this you must learn about the transparency of services. If there is any type of inaccessibility to the data or medical record as a reason for denials, you must address that. Before entering a partnership, be sure that all the criteria for missing or incorrect information are specified.
Skilled Nursing Facility Billing with Sunknowledge
For more than a decade, Sunknowledge team has been relentlessly providing an end-to-end skilled nursing facility billing approach. The team has enabled the healthcare practices to excel in their revenue growth across the US. Working with both payers and providers, the company provides you with a full range of services in medical billing and coding and dispenses a competitive edge to the healthcare services.
Sunknowledge Services Inc. – an ISO 27001:2022 certified, American-owned & operated company, headquartered in New York City – is a leading global provider of Business and Knowledge Process Outsourcing services in the US healthcare domain.
