Master Your Accounts Receivable: Billing Solutions
Our team of financial professionals is well experienced in billing practices of Medicare, Medicaid and other payer sources for senior care communities . Allow us to put our solutions to work for your Senior Living Community.
Billing Solutions
Billing
Prema’s Accounts Receivable team has repeatedly maintained cash collections of 99%. How do we help:
Prepare, submit, and follow-up on claims to ensure proper processing
Document all collection processes with reference and action items in your system billing notes
Post remittance advice into your accounts receivable system
Prepare and process Medicare Bad Debt
Accounts Recieveable
Prema’s Accounts Receivable team has repeatedly maintained bad debt of revenue at less than 1%, compared to the industry average of 1.70%, through accurate production and timely follow-up of claims.
Our team will also supply monthly reports to show the Days’ Sales Outstanding for your community. The team’s past performance has averaged 10 days below the industry average of 45.7 days. How do we help:
Identify, monitor, and report Cash Collections, Bad Debt, and Days’ Sales Outstanding
Business Office
Prema recognizes that a portion of the success realized in Accounts Receivable is due to the policies and procedures that are implemented and practiced at the business office level. Therefore, as an added service, we invest the time in training, implementation, and development of best business office practices for each of the clients we serve. How we help:
Supply policies and procedures necessary for successful business office operations
Educate and train business office staff on all functions performed and perform onsite visits as needed
Oversight of the Medicaid Pending process
Coordination of monthly Private balance review calls to provide collection action items
