From Licensure to Revenue: Building A Compliance Foundation That Pays Off

The webinar focused on the critical importance of building a compliance foundation for Medicaid and VA agencies, emphasizing that compliance drives revenue. Lucas Carroll, founder of the Business of Senior Care, shared insights on navigating state licensure, Medicaid enrollment, and maintaining compliance. He highlighted the need for strategic planning, including selecting appropriate waiver programs based on agency goals and reimbursement rates. Carroll stressed the importance of monthly audits to ensure documentation accuracy and prevent potential penalties. He also discussed the significance of electronic visit verification (EVV) and supervisory visits in maintaining compliance. The session underscored the value of partnering with experts like the Business of Senior Care for credentialing and Care Time for billing to optimize agency operations and growth.

Key Takeaways

1. Early Compliance Crucial: Compliance from the beginning is crucial as it drives revenue and ensures smooth operations for Medicaid billing and reimbursement.
2. Monthly Audits Recommended: Monthly audits of client and caregiver files are recommended to maintain compliance and avoid potential penalties from Medicaid.
3. Strategic Waiver Selection: Agencies should strategically select Medicaid waiver programs based on their goals, reimbursement rates, and operational capabilities.
4. Caregiver Compliance Training: Effective communication and training for caregivers on compliance, including electronic visit verification (EVV), are essential to pass audits and maintain proper documentation.
5. Expert Partnership Benefits: Partnering with experts in credentialing and billing, like the Business of Senior Care and Care Time, can streamline the process and help agencies focus on growth and client care.

Key Quote

Compliance drives the revenue.