Assisted Living Federation of America recognizes ‘excellence in senior living’ from the recently developed Yardi Medicaid Billing Solution
SANTA BARBARA, CALIF., May 07, 2012– Yardi and Pathway Senior Living, a Yardi client, have been named recipients of the 2012 Best of the Best Award in the technology adoption category by the Assisted Living Federation of America (ALFA).
The award recognizes contributions from Pathway Senior Living, a Top 80 assisted living provider with a strong background in providing Medicaid-supported services, to Yardi’s development of the Yardi Medicaid Billing Solution, which is available to users of Yardi Voyager™ Senior Housing.
The Yardi Medicaid Billing Solution differentiates between room and board, care and other types of services. When used in conjunction with the Yardi general ledger, it allows for differences between accounting periods and Medicaid service periods. For state Medicaid programs that follow a resident income-based model, the software is capable of tracking changes in resident finances, and it adjusts the distribution of charges between the private payer and Medicaid accordingly. Additionally, Yardi Medicaid Billing Solution’s built-in functionality recognizes that Medicaid program rules for reimbursement vary depending upon a variety of factors, such as the reason for a leave of absence or the number of payable bed-hold days that a resident incurs within a fiscal year, and automatically adjusts billing calculations accordingly. The Yardi Medicaid Billing Solution can help senior living communities satisfy audits, meet state reporting requirements and avoid payment delays.
“Before we implemented the Yardi Medicaid Billing Solution, changes in patient income levels and leaves of absence were not always reported on time or with the correct reason. This often produced a Medicaid payment adjustment months after Medicaid made the initial payment,” said Michael Vick, chief financial officer for Pathway. “Now, the automated process always gets it right, and our clinical staff can focus on delivering resident care rather than manually tracking LOAs. The Yardi Medicaid Billing Solution expands staff efficiency, improves the quality of the information we receive and reduces our billing management costs.”
Vick added, “The solution expedites accurate submissions of data to the state, resulting in quicker payments and better cash flow. The billing process is simpler and clearer for residents, their families and our staff, as well as for regulators and auditors charged with deciphering complex Medicaid billing rules.”
Eric Kolber, vice president of senior housing for Yardi, said, “When we evaluated current industry practices, we found that highly specialized employees spent multiple days at the end of every month reconciling their Medicaid billing. The automation provided by our software has virtually eliminated that need. The billing is fast, reliable and transparent. This solution will benefit every assisted living community that accepts Medicaid payments.”
ALFA bestowed the award following extensive review and grading. Award criteria included uniqueness, innovation, business excellence and quantitative assessment. “The Medicaid Billing Solution is truly a program we believe will advance excellence in senior living,” said Jamison Gosselin, ALFA senior vice president of marketing and communications.
Yardi and Pathway will receive the Best of the Best Award at ALFA’s Community Conference 2012 in Dallas this month.
About Pathway Senior Living LLC
Formed as a partnership in 1997, Pathway Senior Living is a privately held, Chicago-based company managed by an experienced team dedicated to improving the lives of older adults. With the support of various partners, Pathway develops, owns, operates, and/or manages market-rate and mixed-income independent living and assisted living communities. For more information, visit www.pathwaysl.com.
Yardi Systems has been committed to the design, development and support of innovative software solutions for 30 years. With its senior housing software and investment management software solutions, Yardi Voyager™ is the most comprehensive senior housing management software on the market today. More than 70 senior housing providers use Yardi Voyager to serve residents in more than 1,500 communities. Yardi serves clients around the world from offices in Asia, Australia, Europe, the Middle East and North America. More information about Yardi products and services is available at www.yardi.com.
Trade Media Contact: Joel Nelson 805.699-2040, ext. 1255