The OPEN MINDS Agency Billing & Collections Assessment for Medicaid Revenue Maximization consultative is an in-depth assessment of an organizations Medicaid billing process from point of service to billing strategies to capture all the revenue available to organizations. Our assessment addresses three critical issue; missed opportunities in service billing, service billing coding and procedure problems, and ineffective collection management processes
OPEN MINDS finds that most organizations typically only collect 80% of Medicaid services that are billed. Even a small increase in these collections can add additional resources for salary increases, staff development, and new service line development. With this assessment, the OPEN MINDS team can help organizations identify the operational issues – and solutions – to increase Medicaid revenues.
Program Components
- A desk review of an organizations current Medicaid revenues, billing policies and procedures, and collection management documentation.
- A full-day assessment of an organization’s service billing and collections processes.
- An analysis of the organizations current policies and procedures, documentation, and processes — with a report on recommendations for increasing Medicaid revenues
- A half-day planning meeting with the organizations leadership team to review the recommendations for improving Medicaid collections and a discussion of the tactics required to implement those recommendations