Expenses
Our goal is for bad debt expense to make up no more than this % of revenue
Bonus - this is how you calculate bad debt % of revenue
What is 2.5%
Bonus - total bad debt divided by total revenue
These adjustments can affect your revenue for different payers
What are prior period adjustments
This should be one of your first meetings of the day
What is Labor or Staffing Meeting
This makes up the largest portion of expenses in your Center
What is Labor
This is the average daily reimbursement for each of the following: Medicare, Managed Care, Medicaid
What is $650, $450, $300
True or False
Agency staff should be utilized to cover vacations and call outs
False
Our pod is projected to spend approximately this amount on non-nursing overtime in 2024
What is over $300,000
This is the Med B goal ppd
What is $12 ppd
These positions are included in your direct care hppd
What are nursing assistants, floor nurses, IP, Skin/Wound Nurse
This is a best practice for reviewing AR accounts
What are RCM meetings
This is when a managed care company separates certain medications or services from the overall contract
What is a carve out
These are some items that make up incremental hours, leading to overtime
What are missed meal breaks and late ins/outs
This is the amount of an item that can be capitalized
What is $3000 or greater
This is what EBITDARM stands for
What is earnings before interest, taxes, depreciation, amortization, rent & management fees
These reports should be brought to daily labor meeting
What are daily hppd report, missed punches,