The fragmentation of charges has been a patient complaint for years. For the home care professional, this means fielding calls about charges for nurse visits, assistive devices, CNA interactions, and physical or occupational therapy treatments. In contrast, bundled payments tell the patient up front what a home care provider will charge, based on the physician’s directions for care.
Both the provider and the patient agree on the cost. Insurers, too, appreciate the approach because it takes guesswork out of the charges that are received by the companies. For the health care provider, the ability to bill in this manner ensures speedier payments by insurers and fewer phone calls with billing questions from patients or their families. It is a win-win-win all the way around.
Of course, to take advantage of this relatively new payment model, the health care provider needs to have the type of software suite that can make the connection between care given and billings that need to go out.
- Customized billing cycles. Although bundled payments are the new way of doing business, there are some instances when the patient or the reimbursing company is not yet on board with the concept. A billing system must be able to handle both itemized bills and bundled invoices.
- Connected care and billing. All health care professionals who have direct contact with the patient need to have access to a software suite that allows them to add information about their services. Documenting visits and treatments ensures compliance. Connecting this system to the billing system makes reimbursement from insurers a snap.
- Joined OASIS and RAP functionality. Outcome and Assessment Information Set (OASIS) data is something that caregivers enter while at the home of the patient or after returning to the office. Request for Anticipated Payment (RAP) generation is quick and easy to file when both functions are joined together.
If you are ready to get paid faster with a lot less hassle, contact us to learn more about bundled payments and the software suites that make it possible to benefit from this innovation.