Nursing Home Billing: The Sunknowledge Roadmap to Optimized Reimbursements

Posted by William Jones on September 24th, 2024

For the fiscal year 2025, the CMS has made several changes in nursing home billing and coding services.

Nursing homes, skilled nursing facilities, and long-term care facilities are set to face a raft of new compliance and staffing requirements.

The changes are aimed at improving care for elderly Americans. While they are focused on care improvement, they will put a financial burden on the already struggling nursing homes.

The complexities were always there, and with the changes in nursing home billing protocols, providers like you will face more difficulties in revenue generation and optimization.

As the sector continues to grapple with new pain points like high staff turnover, ongoing staffing shortages, increased staffing costs, and declining reimbursements, many providers are wondering how to sustain the employees and functionality of their facilities.

The answer can vary for different providers depending on their practice requirements. But one thing is certain, you need to develop a solution that will optimize your revenue and sustain the functionality in the long run.

The American Health Care Association (AHCA) published a report that reveals a growing number of nursing home closures. 774 nursing homes closed between February 2020 to July 2024, mainly due to financial instability and staffing shortages.

Within the US, 40 more counties have become nursing home deserts. And the main reason behind this is the erroneous nursing home billing and revenue cycle management process.

As per the Bureau of Labor Statistics, the hourly wage of a certified professional is .12, which is quite expensive. At the same time if need to maintain the infrastructure and invest in the billing software system.

With all this at hand, it’sevident that you will be bleeding revenue!

A team of outsourced expert medical billers and coders is a plausible solution to all your nursing home billing challenges.

There are several companies, but Sunknowledge Services Inc. can provide you with a bleeding-edge solution as per the requirements of your practice.

For more than a decade the company has been providing excellent solutions to both payors and providers.

Not only is the company backed by top-tier certifications, but it also goes through regular client audits which ensures they implement the industry's comprehensive practices within your processes.

With real-time dedicated employees, the company works as an extended operational arm of your practice. Not only do they provide scalability, but also increase flexibility and care accessibility of your practice.

Handing over your practice’s financial aspects to a third-party organization is a crucial decision.

When it comes to the financial and functional stability of your practice, choose an organization that enhances the overall performance and revenue in the long run.