Maximize Revenue On Rental Equipment
By Linda Payne, President, Reimbursement Concepts, LLC
Problem Solved!
Problem: You are unable to determine how many months a patient has been charged for a capped rental item without looking through each claim in order to determine when to change modifiers, send rent to purchase option letter, or turn over ownership of the pump to a patient.
Cause: Your reimbursement system does not have a Recurring Rental function or you have not utilized it.
Impact: KH, KI and KJ modifiers are not used at the proper time, Rent to Purchase Option letters are not sent in month 10 and monthly pump charges accrue after the equipment has met the monthly capped rental allowance.
Solution: Track your monthly charges by running reports by inventory type “rental equipment” or by HCPCS code to see what equipment is actively rented in your system and become proactive in coding and accruing revenue accurately.
Prevention: Utilize any type of recurring rental feature that your reimbursement system may have or run equipment reports a minimum of monthly to track and code your equipment in order to maximize reimbursement and avoid overbooked revenue.
Recommended Rock Pond Report: Equipment on Service with Billing History. To see a sample of this report, click here.