RCMS works with Integrated Delivery Networks (IDN) and multi-facility Health Systems to implement solutions aimed directly at improving Central Business Office (CBO) efficiency. Designed to integrate with multiple EHR/EMR and Practice Management Systems, CBOs can manage all of their remittance processing and treasury reconciliation on a single platform. Below are a series of benefits that our ReSolve® A/R Management (RCM) Solutions can provide, including lower operating costs, streamlined Revenue Cycle Management (RCM) processes, denial tracking, and increased cash flow.
Revenue Cycle Efficiency Benefits:
- Integrated with existing patient billing applications for all major EHR/EMR and Practice Management (PM) systems
- Automated capture of patient and payment information, including high volume paper-based EOBs
- Use of Optical Character Recognition (OCR) technology and Robotics Process Automation (RPA) for reducing data entry requirements
- Elimination of posting distribution steps
- Less time spent with error corrections due to increased data accuracy
- Elimination of manually creating reconciliation, user productivity and A/R reports
- Automated capture, routing, and prioritization of denials information
- Automated secondary billing processes for required generation of matching EOB’s
- Efficient worklisting tools for exceptions, third-party follow up, A/R collections and denial management
Posting Accuracy Benefits:
- Uniform application of data validation rules for all transactions, without error, twenty-four hours a day, seven days a week
- Elimination of human interpretation and decision-making during cash posting, including facility matching and distribution process
- Automated capture of a complete audit trail of payment batches and monitoring of batch integrity and balancing for all facilities
- Comprehensive user productivity reporting of business office staff
Cash Flow Benefits:
- Automated secondary billing for all payers currently being processed manually
- Posting of all payments within 48 hours from receipt, reducing account follow up on payments that have already been collected
- Improving accuracy and quality of patient statements
- Lower A/R days
Denial Management Benefits:
- Capture of all denials, automatically routing them to predefined work queues for improved account qualification and user productivity
- Automated tracking and trending of denials for complete process improvement throughout the entire revenue cycle
- Easier assessment of the impact of follow-up activities
- Automated documenting of increased cash flow from denials improvements.
- Identification of denial patterns that are in violation of payor contract agreements
- Improved reporting — including payments on denials and user productivity indicating how successful each collector’s efforts are in the appeal process
Enterprise Content Management (ECM) Benefits:
- Efficient organization of data and documents in a central repository
- Integrated with Hyland Software’s OnBase® Enterprise Content Management (ECM) solution
- Eliminates disparate, disconnected content silos
- Improved customer service with easy access to all Lockbox Correspondence
- Document version control
- Integration with other systems
- Provides for hosted or on-site installation
Contact RCMS
RCMS brings decades of healthcare business office experience to your organization. We can provide a wide range of proven RCM solutions that provide significant productivity gains and cash management benefits. Contact RCMS about automating workflow in your business office.