Medicare online Aged Care Payment Management
Aggregating Medicare Aged Care payments can be done easily with the right software. However, deciphering this information and following claiming patterns requires certain expertise.
Accurately forecasting an organisation’s sustainability and its capacity for growth requires evaluation and re-evaluation and a complete understanding of capital, cash flow including exposure to validation risks and localised supply and demand. This will become part of the monthly reporting to your facility.
Budgeting and Planning
Many organisations miss the big picture. Budgeting and Planning requires a strategy and localised facility-level targets for resident acuity, wiggle-room room pricing with RAD/DAP ratios and respite utilisation. All this information is analytical and can be included in budgeting and planning strategies with its own set of goals and objectives. Budgeting, forecasting, cashflow, capital and much needed higher levels of occupancy are the results of communicating and interpreting facility data-sets.
Bookkeeping Solutions have contracted partners to assist with these services and can be done directly through us providing a competitive advantage through industry collaboration.
Aged Care Funding Instrument (ACFI)
As seen in 2019 Medicare Statements a glitch in the Medicare software system saw some residents reduce in ACFI funding category. Medicare Online Aged Care Payment Management Reporting will highlight changes to residents’ ACFI status, showing monthly which residents increased or decreased in funding. This will ensure one month flows through to another as a cross-check on resident categories and funding status. This will become part of the monthly reporting to the facility.
We can place our staff in your organisation to cover any leave provisions of admin/accounts staff and to cover recruitment timeframes to employ in these specialised areas of administration.