Maximising your income stream

HOW LASA’S CLAIMS & BILLING IS HELPING AGED CARE PROVIDERS

Accounts Payable Supervisor Ashika Chandra has been working in the accounts department of Leading Age Services Australia for 12 years. She says she loves her job, because it’s all about helping those who help others.

“Our clients are on the frontline of the pandemic, putting their own health at risk to care for older people, and I’m very proud to be able to help them,” says Ashika.

“I talk to clients every day, and every week I hear of someone who has contracted COVID-19 and has to quarantine.

“It makes me more determined to help make their lives easier.” to keep on top of things and stay up-to-date with all the changes.” Ashika recently assisted a small provider from regional New South Wales to improve their accounting, and they were incredibly grateful.

LASA’s Claims & Billing service is all about taking the confusion out of finances, to help aged care organisations maximise their income stream while meeting their financial obligations to their residents.

Since legislative changes several years ago, providers now have to contend with Refundable Accommodation Deposits (RADs), Daily Accommodation Payments (DAPs), Daily Accommodation Contributions (DACs), Billing Interest Rates (BIRs), Maximum Permissible Interest Rate (MPIRs) and means testing, along with ongoing tweaks in rates and criteria.

“Many providers and finance officers are still very confused about RADs, DAPs, DACs, BIRs, MPIRs and means testing,” says Ashika.

“You can find the information on the government’s website, but it’s not all in one place, and not always written in a way that is easy to understand. “Sometimes the department sends out multiple letters for a client advising of different amounts of means test fee, which creates confusion between providers and families. “This can lead to incorrect charging, especially for small providers that may not have the software and technology Ashika (pictured with her son Isaac) is a working mum who loves her role helping aged care providers.

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“The provider had been struggling financially, and when they became a client of our Claims & Billing services, we identified they had been undercharging DAPs and DACs for some time because of incorrect calculation of the BIRs.

“Sometimes providers might think it’s an expensive option to outsource their accounts, but since we take care of everything, it means less stress, and maximising their revenue, which can result in big savings.”

One of Ashika’s Victorian clients had been charging incorrectly for the means test so she talked to the department to get the money refunded, reclaiming the correct amount of overcharged means test fee and means test Accommodation Supplement. The result was a refund of more than $100,000, and Ashika says they couldn’t thank her enough.

The LASA Claims & Billing service also includes reconciliation, which Ashika says is very important.

Every month you should reconcile payment statements against expected funding. There should be a link between the subsidy you’re getting paid from the government and what you’re expecting,” she says. There is also confusion around whether providers should stop charging when the consumer reaches the Lifetime CAP and Annual CAP, or whether they continue to charge until advised by the department, which she says is normally late.

There is also a lack of understanding about Respite Incentive which providers can get by admitting more High Care Respite clients.

“My job is really about doing the hard work for providers, advising on how to maximise their funding and taking the worry of billing away from them,” says Ashika.

“If the provider gets the maximum amount they are due, then they are able to provide the best services possible to their residents.”

LASA’s Claims & Billing is a fee-for-service offering, with generous discounts for LASA Members.

Linda Baraciolli is Communications Advisor and Fusion Editor, Leading Age Services Australia. For more information visit www.lasa.asn.au/payroll-services

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