Prochant’s VP of HME Services, BJ Martinelli, and Home Health Reimbursement Manager, Colleen Delvalle, recently attended the KanTime Experience 2024 and HME Business FUTURE Conference 2024. These events highlighted key trends shaping the industry:
- Enhancing Home-Based Care Through AI
The integration of advanced technology and AI is transforming the landscape of home-based care. At both conferences, there was a clear emphasis on leveraging AI to improve efficiency, accuracy and patient care. AI is helping healthcare providers streamline administrative tasks, optimize workflow processes and provide better care for patients at home.
At Prochant, we are at the forefront of this innovation. Our proprietary technology platform, Prochant Pulse, integrates real-time analytics and AI-driven workflows to help providers enhance their operational efficiency and financial performance. By utilizing AI, we can ensure that our clients' operations are not only efficient but also scalable, meeting the growing demand for home-based care.
- Growing Emphasis on Value-Based Care Models
Another key theme was the shift towards value-based care models, where the focus is on patient outcomes rather than the volume of patients served. This shift represents a significant change in how healthcare providers are measured and reimbursed. Value-based care prioritizes patient satisfaction, health outcomes and the overall quality of care provided.
We are committed to supporting this transition. Our RCM solutions are designed to optimize reimbursement processes, allowing healthcare providers to focus on delivering high-quality care. By helping providers efficiently manage their revenue cycles, we enable them to align their operations with the goals of value-based care—better outcomes for patients and sustainable financial health for providers.
- Challenges with Insurance Verifications and Prior Authorizations
The increasing enrollment in Medicare Advantage plans presents a growing challenge for home health agencies. The complexity of insurance verifications and the burden of prior authorizations were identified as major pain points at both conferences. These administrative tasks are time-consuming and can lead to delays in care, impacting patient satisfaction and provider efficiency.
At Prochant, we understand these challenges and have developed solutions to ease the administrative burden. Our RCM services include comprehensive support for insurance verifications and prior authorizations, ensuring that claims are processed accurately and efficiently. By alleviating these pain points, we help providers focus on what matters most—caring for their patients.
- Continued Cuts to Reimbursement Rates
Both Traditional Medicare and Medicare Advantage plans are implementing cuts to reimbursement rates, posing financial challenges to home health and HME providers. Navigating these changes requires a strategic approach to RCM to ensure financial viability.
Prochant’s team is well-equipped to help providers adapt to these changes. Our expertise in RCM allows us to implement strategies that maximize revenue and minimize the impact of reimbursement cuts. By staying ahead of industry changes, we help our clients maintain financial stability in a challenging environment.
- Enhancing Accuracy and Compliance in Home Health and Hospice Coding
Accuracy and compliance in coding are critical to ensuring proper reimbursement and avoiding costly errors. The need for precise coding in home health and hospice care was a recurrent topic of discussion at both conferences. With the ongoing changes in regulations and reimbursement models, accurate coding has never been more important.
Prochant is committed to excellence in coding. Our specialized coding services ensure that home health and hospice providers remain compliant with all regulations while optimizing their reimbursement potential. We provide ongoing training and support to our coding teams to ensure they stay updated with the latest changes in coding standards and regulations.
Our participation in the KanTime Experience 2024 and HME Business FUTURE Conference 2024 underscored our commitment to leading the industry in RCM innovation. The themes that emerged from these conferences align closely with our mission at Prochant—to empower healthcare providers with the tools and support they need to deliver outstanding care while achieving financial success.
As the industry continues to evolve, Prochant remains dedicated to staying ahead of the curve. We will continue to develop innovative solutions that address the challenges facing home health, HME and hospice providers, helping them thrive in a rapidly changing landscape.
For more information on how Prochant can support your organization with cutting-edge RCM solutions, please contact us by filling out the form below.
Prochant is the only AI-driven reimbursement service provider in the home-based care industry. We deliver focused revenue cycle management (RCM) solutions to healthcare providers with 7 wholly-owned global delivery centers. Our expertise lies in providing end-to-end RCM for home-based care, infusion, and specialty pharmacies, consistently delivering exceptional results to some of the leading healthcare providers in the country. We harness specialized automation technology and deep industry knowledge to streamline the time-consuming and expensive reimbursement process. As a result, we help healthcare providers accelerate their collections, increase revenue, and reduce operational costs while managing risk. Prochant is HITRUST certified, the gold standard for HIPAA security. For more information, please visit prochant.com.