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“Best in Class” Revenue Cycle Solutions for Healthcare Presented by RevCure Consulting.

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Presentation on theme: "“Best in Class” Revenue Cycle Solutions for Healthcare Presented by RevCure Consulting."— Presentation transcript:

1 “Best in Class” Revenue Cycle Solutions for Healthcare Presented by RevCure Consulting

2 ABOUT REVCURE CONSULTING RevCure Consulting is dedicated to bringing its experience and knowledge to assist providers with Revenue Cycle improvement by connecting a providers revenue cycle needs with the best fit solutions. Services: *Revenue Cycle Solution Education (matching client needs with best fit vendor solutions) *Vendor Solution Implementation (managing the start to finish process of implementing new solutions) *Contract Review and Negotiation for current and new vendor solutions (can improve pricing and service) *Vendor replacement (finding vendor solutions that can replace current failed solutions/vendors) *RFP/RFI management and grading process

3 BEST IN CLASS REVENUE CYCLE SOLUTIONS Front End Demographic and Insurance Verification Web-browser tool for real-time demographic verification, insurance eligibility and/or financial screening (inlcudes pop-up boxes on registration screen for optimal efficiency) Financial Analysis Summary Tool Instant patient financial analysis including chairty care and collections bucketing Medicaid Verification Batch Process Batch Medicaid screening and bad debt scrub Bad Debt Batch Analysis Intelligent back office platform that automatically “buckets” each patient account and generates collections report

4 OVERVIEW: FRONT END DEMOGRAPHIC, INSURANCE AND FINANCIAL VERIFCATION Best Practice: Automated identity verification (name, address, SSN, DOB and Phone #) at patient registration Red Flag compliance (fraud identification) Insurance Verification for Medicaid, Medicare and Private Payers Preliminary charity screening and financial assessment Includes an automated real-time pop-up box on registrars screen with demographic, insurance and/or financial info for optimal processing time and registration accuracy Results: Up to 30% reduction in returned mail Decrease in fraud and identity theft Decrease in bad debt write-offs Improved efficiencies at Registration and Back Office

5 SCREEN SHOT WORKFLOW Registrar enters patients demographic information

6 HL7 INTERFACE TO REG SYSTEM, AUTOMATIC POP-UP BOX WITH DEMOGRAPHIC, INSURANCE AND/OR FINANCIAL ANALYSIS (INCLUDES RED FLAG MESSAGES AND SCRIPTING OPTIONS Automatic Pop-up Screen Shot Workflow con’t

7 EASY SET-UP AND CONFIGURATION FOR DESIRED DATA IN POP-UP BOX Can opt to include demographic, insurance and/or financial data in pop-up box and can be controlled on a per user basis

8 KEY I.T. AND OPERATIONAL FEATURES IT Features Web-based, ASP model Quick and easy set-up Real time response Automation through HL7 interface (setup time averages 3- 6 hours) Operation Features Simple to use and train Robust and reliable data from Equifax, Whitepages, US Post Office, and Professional database companies Customizable screens and messaging Management reporting

9 WORKFLOW IMPROVEMENTSAND VALUE PROPOSITION 1) Demographic Verification Receive demographic validations delivered via a real-time pop-up window directly sent to registrars screen to increase registration accuracy  Reducing return mail volumes begins with getting the correct address from the start, don’t wait for the patient to leave before you realize you have the wrong address  Red flag alerts on fraud and misinformation can be easily identified at time of registration (fraud is everywhere)  Use the best data and the most efficient solution to improve registration process for both registrar and patient  Flat fee pricing available for maximum ROI

10 WORKFLOW IMPROVEMENTS AND VALUE PROPOSITION CON’T 2) Electronic Insurance Verification Stream-line the adjudication process by receiving instant payer information via a real- time pop-up window with necessary insurance information  Empower your registrars by supplying them with instant, accurate insurance information for Medicaid, Medicare and Private insurance patients  Real-time pop-up window with information allows for efficient and user friendly process  Aggressive pricing and a large payer list makes this a great option for any provider  Flat fee pricing available for maximum ROI

11 WORKFLOW IMPROVEMENTS AND VALUE PROPOSITION CON’T 3) Financial Analysis Summary Instant patient financial analysis including charity care and collections bucketing  Empower end-users to more accurately financial bucket self-pay and charity care accounts  Improve front and back end collections by understanding true ability to pay  Decrease financial fraud in charity care  Flat fee pricing available for maximum ROI

12 WORKFLOW IMPROVEMENTS AND VALUE PROPOSITION CON’T 4) Batch Insurance Verification Stream-line the adjudication process on bad debt files by batching them into Parlays Medicaid Verification Process (MVP)  Great way to maximize reimbursement on bad debt files  Aggressive pricing makes cost to batch minimal with great ROI on found insurances  Don’t waste resources collecting on those who have Medicaid  Reporting available to extract results

13 WORKFLOW IMPROVEMENTS AND VALUE PROPOSITION CON’T 5) Bad Debt Batch Analysis Intelligent back office platform that automatically “buckets” each patient account and generates the appropriate program form  Utilize proven algorithm to better prioritize bad debt files based on credit data characteristics (i.e. ability to pay, income, credit score, etc.)  Improve back end collections by understanding true ability to pay and pick off the low hanging fruit  Don’t waste resources collecting on uncollectable accounts regardless of bill size  Flat fee pricing available for maximum ROI

14 WHY CHOOSE THESE SOLUTIONS? High Reward Potential  Returned Mail, fraud (red flag), insurance adjudication and self-pay collections are all important parts of the revenue cycle and all directly affect bad debt  These solutions can greatly assist in improving each of these revenue cycle areas by allowing the end user to be more affective at their job  Competitive pricing for these solutions allows clients to maximize success in terms of ROI. Low Risk  Extremely aggressive pricing allows clients to begin utilizing tools with minimal financial risk and get the maximum financial return.  Flat fee pricing is offered so clients can run high volumes of accounts and can easily predict monthly/yearly costs while guaranteeing lowest price per transaction.  Low start up costs minimize financial risk for clients who want immediate use for any of the above solutions. Best in Class  Easy to setup, easy to use and the most efficient data delivery process  These solutions have access to the most accurate demographic and insurance data in their respective industries due to strategic partnerships  Revcure Consulting brings a truly professional and headache free approach to doing business with revenue cycle vendors.

15 CONTACT INFO Spencer J. Collum RevCure Consulting President / CEO 954-347-1555 spencer@revcureconsulting.com


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