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.