Efficient Revenue Cycle Management (RCM) is vital for the financial stability of long-term care facilities such as Skilled Nursing Facilities (SNFs), Assisted Living Facilities (ALFs), and Accountable Care Organizations (ACOs). By utilizing LTCPro’s comprehensive RCM services, facilities can optimize their processes, enhance cash flow, and maintain compliance with industry regulations. This streamlined approach not only reduces administrative burdens but also allows care providers to focus on delivering exceptional services to residents.

When you partner with LTCPro, you gain access to a specialized team dedicated to improving the financial health of your long-term care center. Our RCM services are designed to enhance operational efficiency, increase revenue, and ensure compliance with industry regulations.

• Customized Solutions: Tailored services to meet the specific needs of your facility.
• Experienced Professionals: Our team consists of experts in healthcare billing and RCM.
• Advanced Technology: We utilize the latest technology to streamline processes.
• Focus on Care: Outsourcing your RCM allows your staff to concentrate on resident care.

Our Comprehensive Long Term Care RCM Services:

LTCPro offers an extensive suite of RCM services tailored specifically for long-term care centers. Our key RCM activities include:

• Face Sheet Record of Admit: Accurate documentation of the resident's information upon admission.
• Setting Up New Resident Accounts: Establishing comprehensive accounts for new residents to ensure accurate billing and records.
• Updating Billing, Finance & Personal Info: Regularly updating resident information to maintain accurate financial and personal records.
• Daily Census Tracking: Monitoring resident counts daily to ensure accurate billing and resource allocation.
• Posting of All Ancillary Charges: Accurately recording ancillary services provided to residents.
• Billing – Weekly and Monthly: Timely processing of billing for residents based on services rendered.
• Posting of Receipts and Private Cash: Managing and posting all incoming payments from various sources.
• Generating Private Statements: Creating clear and detailed statements for private pay residents.
• Analyzing Billed Versus Collected: Reviewing billed amounts against collected payments to identify discrepancies.
• Tracking of Unpaid Claims: Identifying and monitoring unpaid claims to ensure timely resolutions.
• Resolving Unpaid Claims: Actively pursuing unpaid claims to facilitate prompt payment.
• Review of Old & Pending Accounts: Conducting regular reviews of outstanding accounts for better management.
• Collections and Follow-Up: Implementing follow-up procedures on outstanding payments to improve collections.
• Month-End Closing: Performing month-end reconciliation to ensure financial accuracy.
• Census Building / Charge Posting: Establishing accurate census records and posting charges for services provided.
• Authorization Tracking: Monitoring and tracking required authorizations for services.
• SOC Tracker: Tracking significant changes in resident status to ensure proper billing.
• Private Statements: Generating and providing detailed statements to private pay residents.
• Statement Trackers: Maintaining logs of statements sent to monitor payment progress.
• Payment Posting / Trust Posting: Accurately posting payments to resident accounts and managing trust accounts.
• Quarterly Trust Statements: Providing detailed statements for trust accounts on a quarterly basis.
• Private Audits: Conducting audits to ensure compliance and accuracy in financial practices.

Long Term Care RCM Reports & Analytics:

To support effective decision-making and financial management, LTCPro generates a variety of essential reports, including:

• Resident Rate History: Detailed history of rates charged to residents.
• Census by Resident Name: Comprehensive census report organized by resident names.
• Census by Pay Source: Analysis of census data categorized by payment sources.
• Daily Rate Analysis: Daily assessment of rates charged for services.
• Aging Report Totals: Summary of outstanding receivables organized by age.
• Aging Report Detailed: In-depth breakdown of aging receivables.
• Cash-to-Cash Report: Analysis of cash flow over specified periods.
• Ancillary-to-Ancillary Report: Insights into ancillary service performance.
• Revenue Report (Expected Revenue): Projection of expected revenue based on current operations.
• Month End Recap Totals: Summary totals for month-end financials.
• Month End Recap Detailed: Detailed month-end reports for in-depth analysis.
• GL Posting Summary Report: Overview of general ledger postings for transparency.

At LTCPro, we are committed to delivering exceptional Revenue Cycle Management services for long-term care centers. Our comprehensive approach, tailored solutions, and dedication to excellence make us the ideal partner for your RCM needs.

Contact us today to learn more about how LTCPro can help optimize your revenue cycle and support your mission of providing high-quality care to your residents!