Do you find yourself wondering? How to organize and run your billing operations efficiently?
Are you struggling to strike the right balance between efficiently billing insurance claims and managing the costs of billing personnel?
You may have all the right aspects but still you are struggling with the execution, service and even getting paid. Everyone worked really hard, yet you still missed the mark. Worse yet, there’s a good chance you’re not getting paid for the fruits of your labour.
With the reduced reimbursement impacting for many providers, it takes more than great aspects to be financially successful in the HME business.
This five core techniques you should employ to run an efficient billing operation:
Productivity Measurement
Productivity Measurement for billing is very important and is measurable. Making productivity gains requires that you pinpoint certain metrics to measure, set benchmarks, and take actions based on data rather than just along at a baseline level of efficiency and output.
- Baseline is your minimum expectation
- Baseline for each Key Performance Indicator
- Review & revise your objectives quarterly
- Set performance objective
- Monitor daily, weekly, monthly
- Data and Reporting
Quality Assurance
Training on process and product knowledge
- Feedback mechanism
Internal auditing
- Sampling
- Competency
- Data and reporting
- Management expectations
Issue Management
It is the process of identifying and resolving issues in a project or organisation. Using this Issue Management Process, you can identify and resolve issues quickly, before they have an undesirable impact. Whether you experience staffing, supplier, equipment or other issues, this process will guide you through the steps towards their speedy resolution.
- Identifying and resolving issues
- Determine the impact of each issue
- Problems, gaps, inconsistencies or conflicts
- Document and track tore solution
- Data and reporting
- Ownership and priority
- Management visibility
Bottleneck Resolution
- Performance of an entire workflow is limited by a single or small number of processes or resources
- Identify bottlenecks in your process
- Understand the root of the problem and consider all options
- Cost benefit analysis to resolving bottlenecks
- Data and reporting
Workforce Management
Put simply, workforce management is all about assigning the right staff to the right job at the right time. Although that might sound simple, it is in fact a complex business challenge, because there are many factors that come into play. In essence, it is about assigning the right employees with the right skills to the right job at the right time, to meet demand recently the concept of workforce management has begun to evolve into Workforce Optimisation.
Workforce Optimisation is a business strategy that promotes operational efficiency through the integration of new processes and or technologies.
- No employee should start their day wondering what is expected of them
- Regular training
- Communication of strategy should flow down the chain
- Manage attrition
- Recognize Achievement
- Incentives
- Performance Awards / Recognition
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