It takes 45-90 days to process a Medicaid application1
In 2015 the Medicaid shortfall was expected to exceed $7 billion, nationally2
For a typical 100-bed facility in which 63% of residents rely on Medicaid for coverage, this shortfall would mean a loss of more than $1,415 each day, exceeding $516,000 annually2
With decreased reimbursements, higher costs, and the rising number of individuals applying for Medicaid, skilled nursing facilities can’t afford the financial risks resulting from delayed or denied applications. ECS’ Medicaid risk-reduction services offers a total Medicaid solution for clients nationwide. ECS provides application processing, resolution of Medicaid pendings, Medicaid eligibility asset review and analysis, and consulting. Our best practice approach secures payment source, assures consistent cash flows, and mitigates collection efforts.
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Ensuring a consistent and timely source of funds is paramount when securing your facility’s financial stability and growth. That’s why every aspect of the Medicaid application process from gathering data to completing the application demands due diligence. Taking control of the process puts you in the driver’s seat and steers residents and your organization towards the path of successful placement, eliminating any potential payment gaps.
Hundreds of Medicaid applications hang in the balance every year, facilities and residents in a vulnerable position. These suspensions may result in major financial losses for skilled nursing facilities who often don’t have the resources to follow-up, investigate and resolve pending applications. Skilled nursing facilities are in the business of caring for others; having ECS handle your Medicaid pendings allows you to focus on the quality of care of your residents while maintaining a steady source of income.
Completing Medicaid applications for residents is often a delayed process; depending on outside responsible parties to produce the disclosure and documentation required by Medicaid and the State Medicaid agency. This delay may result in a loss of revenue for the facility.
It’s time to stop waiting and take control of your finances. ECS performs asset searches to facilitate the Medicaid application process and ensure the proper identification of assets. Our asset evaluations provide you with the confidence to discuss payor sources with potential residences during the initial inquiry phase, enabling you to balance financial risk if the resident does not qualify for Medicaid or is unable to meet a payment plan.