AR Basics
AR is the acronym for this.
What is accounts receivable?
A tool we use to identify/screen a resident for Medicaid.
What is the financial snapshot?
The sooner you do this, the better your chances of collecting.
What is meeting with resident/family within the first couple of days of admission?
This is what we want to see when we look at the aging report.
What is nothing over 90 days?
If it isn't documented....
What is did it really happen?
This report shows how long an account balance has been outstanding.
What is an aging report?
This should always be kept current on Medicaid Pending accounts.
What is notes in Matrix?
This should clearly explain what happened with an account and what the next step is.
What is resident note in Matrix?
The older an account gets, the more likely it becomes this.
What is harder to collect?
Know your ....
What is accounts?
An account that is 90+ days old should receive more attention because of this.
What is increased collection risk?
This is what census should be once an application has been submitted but hasn't been approved yet.
What is Medicaid Pending?
When a family says, "We didn't know we owed anything," this should have happened earlier.
What is discussing payment expectations upfront?
This is the BOM's best friend when working AR.
What is a good aging report?
Don't be reactive, be...
What is proactive?
The goal of AR is not just to collect money, but to keep balances from getting to this point.
What is aged/delinquent AR?
This is a form we can submit if we are having issues with getting certain documentation for approval.
What is a Statement of Applicant?
When an account continues to go unpaid despite repeated attempts, it may be time for this.
What is an H&N referral?
This is the BOM's worst enemy.
What is an account nobody has touched in six months?
If nothing changes...
What is nothing changes?
The best BOM's don't wait for a problem to become a crisis; they take this approach.
What is proactive?
This is the biggest mistake you can make with a Pending account.
What is no follow-up?
Waiting months to address a balance because "the family said they'll pay" is an example of this.
What is being reactive instead of proactive?
The magical place where overdue balances disappear.
What is a Bad Debt Write Off?
The older the aging....
What is the harder the collection?