We understand that this time is difficult and hospitals, healthcare professionals, medical billing services, insurance companies, clearinghouses are working on top of their abilities. Of course, no one is undermining the efforts of the healthcare industry. However, the pandemic is not an excuse to not keep clean records of healthcare attributes.
The U.S. Department of Health and Human Services (HHS) has cleared the sense of the notion that the disparity in data transmission or data incompleteness is not negotiable.
Inconsistency in Data Requirements Leave Physicians Waiting for Outcomes
To follow through the CARES Act Provider Relief Fund money, physicians must abide by all the terms and conditions.
Important clauses for this relief fund are:
- The fund is only to be used to avoid or respond to coronavirus affects.
- The fund is only used as compensation to the lost revenue or the endured healthcare cost during the COVID-19 pandemic.
Physicians were quite unsure about how to act to these facts. Of course, medical billing outsourcing companies can’t proceed without their clients’ consent. Therefore, HHS took it upon itself to explain all the complications that restrict healthcare professionals to benefit from this program.
HHS Explains the CARES Act Provider Relief Fund Requirements
A few weeks back, HHS issued a draft as in FAQs (Frequently Asked Questions) that answered all the physicians’ concerns. Moreover, medical billing services get a chance to look into attributes that were most wanted, especially the documentation of items that home care providers need to record in their records. For Instance,
- Medical supplies to offer healthcare service for possible or actual COVID-19 positive patients
- Medical equipment to offer healthcare service for possible or actual COVID-19 positive patients
- The training/education of workforce offering services for COVID-19
- Getting access to training, resources, equipment, recruitment, etc. to streamline the workflow
Although the expenses should be with respect to the COVID-19 treatment or response, HHS stated that it is highly unlikely that the COVID-19 expense goes back to the date before January 1, 2020.
What are the Lost Revenues that are Attributable to COVID-19?
HHS also explains this phrase. Lost revenue will subject to any financial loss that is incurred due to coronavirus. It also includes cases where medical billing companies couldn’t generate revenue for healthcare professionals due to fewer patients visits, canceled or delayed elective medical treatments and procedures, or surging uncompensated loss.
According to HHS, the dedicated fund can be used to cover that cost too that could be recovered otherwise, as long as it is subjected to coronavirus prevention, response, or planning. It implies that that the cost doesn’t have to be specific to coronavirus positive or possible patients, but it just has to be lost due to the pandemic.
These funds can also be used to maintain the quality of healthcare services and their timely delivery to the patients. For instance, to pay for the payrolls, insurance plans, or EHR (Electronic Healthcare Records) fee.
This fund can be a ray of hope during the financial crisis period. HHS tried their best to give relief to patients. Now, it is up to medical billing services to strategize and compensate for the losses.