When you praised your child for being pretty darn good at math, you didn't realize this would give them the confidence to tutor a classmate not so good at math.
Every action can stimulate a ripple effect.
In the DME world, payment posters have a profound ripple effect on the company based on their actions or inactions. (Who would've thought?!)
When the payments team posts timely and accurately:
- AR staff are more effective.
- Denials are targeted early and result in improved collections.
- Secondary claims open and pay rapidly.
- Management is confident in the accuracy of the data they review and make informed decisions.
- Your database suffers.
- Managerial reports are skewed. Uninformed decisions cause scattering of resources.
- Secondary claims remain stuck and DSO climbs.
- AR staff cannot efficiently work AR projects or denials.
The biggest culprit is the assignment of "harmless", incompatible tasks. When payment posters are pulled away from their primary responsibility - quickly and accurately posting cash and denials into the billing software - these tasks become harmful.
If your payments and denials are not currently posted within 72 hours of receipt, you need to engage staff and isolate tasks that prevent the job to be done by:
- Asking payment posting staff to describe a typical day and current responsibilities.
- Writing down tasks and responsibilities that are not directly related to posting cash and denials.
- Reassigning incompatible tasks.
- Underscoring the importance of getting caught up and staying current.
- Alerting supervisors and managerial personnel of the ripple effect of pulling these associates before their primary duties are fulfilled.
Attend our You Don't Need More People: 3 Steps to Prevent AR Bloat event on October 12th to further explore the ripple effect and how to leverage your payment posting team to achieve a complete database. We will also share two other proven strategies that build on your complete database with limited staff.