Increased Profitability for your Long Term Care Facility
Financial Screening of Potential Residents
Personal Guidance of Resident Families though Spend Down
Medicaid Application Processing at the Appropriate Time
Services
- Screening Resident Assets for Potential Resident Payment Problems
- Assisting Resident Families with Asset Liquidation and Spend Down Issues
- Assisting Resident Families with Medicaid Qualification and Application Processing
- All QMC Services are Resident Paid
Helps Your Facility
- Instantly screen prospective residents for potential payment problems
- Ensure smooth, timely payments from residents
- Increase cash flow
- Reduce unreimbursed days
- Decrease turnaround time on Medicaid applications
- Let staff focus on their jobs instead of having to deal with spend down, asset liquidation and Medicaid application issues.
The Problem
Major asset liquidation problems are discovered too late, well after resident has moved into facility;
Resident families and facility staff are unaware of liquidation issues that could affect smooth spend down, resulting in late payment or non-payment;
Family drops the ball on Medicaid application, resulting in a coverage gap during transition from private pay to Medicaid;
Facility does not have specific policies in place to immediately discharge resident when significant payment issues arise.
Sources of Problems
- Lack of Resident Capacity
- Lack of Responsible Party
- Illiquid Assets
- Hard to Liquidate Assets
- Prior Gifts
- Multiple Owners
- Lack of Power of Attorney
- Family Drops the Ball during Medicaid Process
- Late Discovery of Medicaid Qualification Issues
- Need for Guardianship
- Need for Probate
- Real Property
The Solution
Facilities must have the ability to immediately spot potential residents who have significant asset problems. For admitted residents, resident families often encounter problems with spend down and Medicaid which cause facilities to chase payment, wait for payment or worse, write off losses. These occurrences cost facilities thousands of dollars each year in avoidable losses.
QMC: Early detection of payment problems, proper direction of resident family and quick, efficient discharge of residents with fatal payment flaws is the key to increased cash flow and minimization of unreimbursed days.
Service #1
Financial Screening of Potential Residents and New Residents – You need financial information as early in the process as possible on each new resident, (1) to screen for applicants with poor financial situations, and (2) to have the tools to work with admitted residents to ensure a smooth spend down. QMC’s Financial Face Sheet provides you with those tools.
Additionally, QMC works with resident’s families to work through the liquidation of assets and timely payment of care center.
Sample Reports
QMC Liquidation and Facilitation Services
- Personal guidance through spend down
- Processing of Medicaid applications and Divisions of Assets
- Liquidation of assets
- Sale of real property (including resident’s principal residence)
- Cashing in annuities, IRAs, 401(K) accounts, insurance policie
- Fees for QMC’s Liquidation and Facilitation services are paid by residents and/or resident families.
Service #2
Medicaid Application Processing
At the proper time, QMC will assist the family properly and timely file an application for Medicaid Vendor LongTerm Care Assistance. The professionals at QMC have filed thousands of Medicaid applications, Divisions of Assets, Appeals, Annual Reviews, etc. We take care of everything and keep the resident family properly directed.
Next Steps
QMC will conduct training sessions with each nursing facility to educate staff regarding referrals to QMC, the value to resident families, to families of potential residents and to nursing home staff, and the networking of the QMC reporting.
QMC will train nursing home staff regarding QMC referral forms and referral procedures.
QMC will engage the families of residents and potential residents, analyze asset and spend down circumstances for each client, determining if potential residents are appropriate fits for their chosen facility, and guiding current residents through the spend down process to ensure smooth payment to the facility.
At the appropriate time, QMC will process resident Medicaid application, ensuring a smooth transition from private pay to government Medicaid assistance.
