Fundamental Design Principles for Effective Cash Management

What are your revenue cycle improvement goals for 2024 and beyond? By integrating with your EHR host billing system (or multiple systems), Clearinghouses and other Line of Business (LOB) applications, the RCMS ReSolve® A/R Management Platform can automate workflows that significantly improve a wide array of cash management and revenue cycle processes.

Below are some of the key areas we address when working with our Integrated Delivery Network & Health System clients.

Steps Toward Improving Cash Management:

  • Integrate with host billing systems
  • Synchronize data for adjustments and transfers
  • Same day processing of today’s receipts
  • Use best available capture solutions
  • Capture all adjudication data
  • Automate the separation of remittance with parsing/splitting technology
  • Use data validation rules to cleanse, scrub and normalize payment data
  • Provide reconciliation from bank deposit through billing system to corporate general ledger (GL)
  • Monitor key revenue cycle performance metrics by payor, provider, or division
  • Identify the source of denied claims to resolve the root cause
  • Ensure that claim processes are audited to stop recurring denials

By integrating multiple healthcare information systems and revenue cycle applications with a common A/R Management Platform, RCMS can increase productivity, automate workflows and identify defects for timely adjudication. These steps will improve your cash management processes and reduce your cost to collect.

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Contact RCMS today to improve your cash management with the right design principals, systems integration experience, and software technology. We’ll help to improve revenue cycle processes for your entire business office.

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