Occasionally, I will get an email or a phone call from a VP of Revenue Cycle or a hospital CBO Manager asking me to help them find their state’s workers’ compensation fee schedule. I do my best to point them in the right direction, but more often than not I will try and better understand what their underlying question about work comp really is, as it is frequently NOT found in the fee schedule. That said, fee schedules are a good starting point for hospitals eager to learn more about their expected work comp reimbursement.
Topics: cash acceleration, WC reimbursement,, Work Comp Strategy, Healthcare financial challenges, Workers' Compensation Reimbursement, Revenue Cycle Management, Workers' Comp Billing, electronic filing
Along with ringing in the New Year, many people resolve to make lifestyle changes (or resolutions) to accomplish certain goals and make it great. There is no reason why Revenue Cycle executives shouldn’t use this time to re-examine their business line strategies. Workers’ Comp (WC) claims are notoriously difficult to manage for several key reasons. As you look at your complex claims goals for 2018, here are a few subjects to consider.
Most hospitals that I encounter have at least a few Preferred Provider Organization (PPO) Network contracts that include workers’ compensation. Some have dozens. These contracts range from super simple 1-page Letters of Agreement, to massively complex multi-line managed care agreements. Hospitals typically devote staff to developing and managing these contracts, but just as is true with Group Health or Commercial contracts, work comp contracts have the same propensity for errors and abuse and left unchecked these blunders could cost hospitals dearly.
At EnableComp, Fun is one of our six core values and it’s something that we try and incorporate into our regular work schedule. Whether it’s playing a game of ping-pong in the fun room with the CFO or challenging your colleague to a game of Mario Kart on the Wii, we know fun! One of the most fun filled weeks of the year is Revenue Services Week. This is an entire week devoted to our Revenue Services team that work hard all year long to make the company successful.
It’s no secret that hospitals are continuously battling thin margins by working to put the correct partnerships, processes and systems in place to avoid the big misses. The players on the PGA Tour are constantly facing the same battles. Finding the right partners to help lower the margin of error each performance year is key.