Endorsed Vendors
RAC Audit Management
Audit Trax is a web based workflow management tool that puts you in total control of your RAC audits from beginning to end. Audit Trax centralizes RAC responses, produces e-mail alerts to prompt action, includes letter templates, stores all scanned medical records and has powerful report writing capabilities.
Click here to download Audit Trax brochure.
____________________________________________________________
Denial, Review and Appeal Management
Denial Management Services – from the Florida Hospital Association is equipped to manage QIO, MAC, CERT, RAC and Commercial Insurance denials as well as DRG/coding changes.
Click here to download Denial Management Services brochure.
____________________________________________________________
Coding and Transcription
DocuVoice LLC is a marketing/consulting company that specializes in Physician conducted chart reviews to increase reimbursement opportunities from DRG based payors. Their partner company, FairCode, averaged a return on investment of over 5:1 for 2010.
Their solutions also include outsourced coding/transcription solutions, ICD-10 assessment/training services and encoder software. Their team works closely with you to design a custom program to address any of these areas by identifying your current situation at no charge.
If an opportunity exists for DocuVoice to offer solutions, they have a number of partner companies that specialize in providing outstanding solutions to address each of these areas. Ongoing, DocuVoice will continually monitor every project to make sure that the facility is delivered the highest quality and performance of any identified area of need.
____________________________________________________________
Market Intelligence and Revenue Management
FOUR WAYS PDS HELPS HOSPITALS INCREASE REVENUE
The PDS revenue benchmarking software is an on-line paid claims database and reporting tool used by hospitals for:
Accurate Market Analysis
• Understand where the market leaders are going
• Learn where you stand relative to your peer group
• Spot market trends
• Drill down to see this data by service line, DRG, ER and outpatient procedure
Intelligent Strategic Planning
• Quantify the gap between current revenues and where you want to be
• Compare your contract yields
• Compare contract performance to case-mix and volume-adjusted external benchmarks that you can customize
• Set quantifiable revenue targets for each service line and payer
• Monitor your progress toward these goals
Smarter Business Development
• Understand the market before you decide to expand or add a service line
• Create pro-formas based on current, customized market intelligence
Effective Contract Negotiation
• Identify strengths and weakness in each contract
• Identify revenue enhancement opportunities
• Strengthen data-driven negotiation goals
• Identify opportunities for carve-outs, stop loss, per diems
• Use your market knowledge to negotiate with more conviction
____________________________________________________________
ControlPay® Advanced
Easily improve your overall accounts payable process and generate a steady revenue stream with Commerce Bank and its Automated Accounts Payable Solution! Commerce Bank’s innovative ControlPay® Advanced allows you to pay invoices electronically through the Visa® Network. You reduce check writing costs and earn monthly revenue share based on an aggregate volume from all the hospitals that participate on this program. Here’s a compelling illustration: a 250 bed hospital with $50,000 program spend per bed could possibly realize a revenue share of $136,250 annually or $11,355 per month.
Key highlights include:
• No financial investment or cost to participating hospital
• No software to host – just a simple Web-based application
• Reductions of costs associated with accounts payable
• Maintain or improve payment terms
• No change to existing purchasing process
• Turn-key program
• Revenue is paid monthly
• Ongoing recruitment of vendor participation to increase effectiveness and revenue back to hospital
• Vendor benefits that include guaranteed funds and reduced risk for check fraud
Commerce’s team of dedicated enrollers contact your vendors, review the variety of options and register them. The more vendors who are enrolled in the program, the higher your volume tier will be, contributing to a greater revenue share.
____________________________________________________________
Accounts Receivable Management
nTelagent’s total point-of-service solution, the Retail Application for Healthcare, guides patient access staff through each patient encounter via real-time, customized scripts. From insurance verification to payment processing, registration is fast, simple and accurate for all patients: insured, uninsured and those qualifying for financial assistance.
nTelagent’s clients increase upfront cash and cash on hand, reduce AR days and bad debt, reduce or eliminate back-end denials, and follow consistent practices on all registrations with just one system – for a fraction of the cost of disparate systems.
In minutes, registrars using nTelagent: validate patient address, verify insurance, perform medical necessity screening, determine estimated total and approved charges, and follow online scripts for discounts, payment terms and patient collections – all at point of service.
Benefits include:
- Increase cash, decrease bad debt and AR days
- Reduce denials, returned mail, collection fees
- Identify capacity to pay, financial assistance
- Set up payment terms for increased ongoing AR collection
- Improve registrar workflow, patient satisfaction
- Move revenue cycle upfront – pre-registration and POS
