Overcoming Your Unique Challenges
As an assisted living facility, you face unique challenges.
- You must provide a wide range of services to your residents, all of whom have different needs.
- You must seamlessly manage all the billing, payments and claims processing for private pay clients and clients with third party benefits.
- On top of that, you strive to achieve high occupancy rates and fill empty rooms quickly.
You need a financial partner that can help you stay focused on providing quality services to your residents while also helping your facility stand out in the market so that you can attract new residents.
The senior population is growing rapidly but so are the costs of long term care. Thirty percent of home care is paid for with third party benefits, and the most successful assisted living communities will effectively serve this segment of the population.
We can help grow your community and save you the time, hassle and operational expense of managing third party billing in-house. The challenge for many assisted living facilities is that senior care billing and claims processing is extremely complex and time-consuming. It takes hours to research policies and other benefits, no two policies are alike, and there are no standards across third party payers. But at the same time, the ability to work with more payers can greatly grow your business.
FHS has the expertise communities need to manage third party billing. FHS is the only outsourced financial partner that has nearly three decades of experience billing and submitting claims to more than 200 third party payers:
Benefits for Your Assisted Living Facility
- Grow Your Business
- Maximize revenue with existing residents and win more residents
- Reduce Administrative Burden
- FHS handles balance billing, time slip processing and caregiver payment
- Expedite Payment collection
- From residents via electronic processing, either ACH or credit card
- Cash Flow Benefit
- We advance employee payments during third party payer processing
- Offload Collection Process
- Let us handle NSF, expired credit cards, and other resident balances
- Resident Convenience
- Balance may be paid by resident and/or family
- Financial peace of mind and benefit analysis
- We handle all the claims processing for residents with third party payers
- We remit facility fees weekly
We offer customized solutions to meet your business and compliance needs. The best part is, there is no cost to your facility – our fees can be borne by third parties and/or by residents if you choose.
How we help you with residents who use third party payer benefits
We help your residents and their families understand their third party benefits. We painstakingly research each policy in order to paint a complete picture of a resident’s benefits, allowing them to confidently move into your community. FHS can help differentiate your facility in the marketplace by providing this service to residents and their families.
How we help you with residents who pay privately
Residents may have financial responsibility whether they are true private pay or their care has generated a balance due beyond their insurance coverage. Either way, it is challenging to collect from elderly clients and distant family members. We offer recurring payment processing services, balance billing, escrow true-up services and other custom solutions to recover resident balances. Most importantly, we follow up with residents when there are missed payments so that you don’t have to.
We’re Here to Help You
FHS can help you overcome all your challenges and empower you to seize all the opportunities in the senior care industry. Let FHS be your financial partner so that you can focus on what’s actually important—growing your business and providing quality care.