Traditional billing solutions are increasingly being viewed unfavorably due to their negative impact on profit margins, likelihood for errors, time requirements, and labor intensiveness. The wide range of mandatory and regulatory changes as well as market forces only add to the challenge, especially for small practices, and generate a need for more automated, intelligent, and effective solutions to streamline billing operations.
Goals and Objectives
Bridge clinical and financial data toward reducing the amount of time between providing a service and receiving a payment.
Automate tasks, production of analytics, and generation of insights that positively impact reimbursements.
- EHR integrations, charge capture, registration, clinical documentation, and coding modules
- Billing rules and claims processing submission engines, vendor processing and clearinghouse interfaces, electronic remittance and payment posting functionalities, dashboards, reporting, and data analytics
- Cloud, vendor messaging, provider and patient messaging, and databases
- Cognitive computing and robotic process automation increasingly to ensure correct coding and speed up processes
Use Case Summary
Revenue cycle management is a cycle of administrative and clinical functions being increasingly automated to present a compelling case for provider organizations to fulfill billing functions and pursue value through impacting cost by reducing reimbursement times, errors, delays, labor, and the improvement of real-time performance efficiencies.