Posts Tagged: claims management

Doing More with Less, The Value of Automated Claims Status Reporting

Automating claims statusing takes the manual and tedious and helps focus precious resources on claims that matter. Still, it’s not just THE solution to transform hospital business offices. It’s A sophisticated tool forward-thinking hospitals should have in their business office tool kit, to maximize productivity and achieve the revenue cycle results necessary to continue to offer excellent healthcare.

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Four Tools for More Effective Claims Management, Part 4: Activity Monitoring & Reporting

Predictive analytics help answer important questions about what will happen in the future that might cause you to do something differently. But there’s still another important tool for effective claims management that allows revenue cycle teams to determine the most effective follow-up pathways, and manage and improve performance over time – namely, account-level activity monitoring and reporting.

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Four Tools for More Effective Claims Management, Part 2: Automated Statusing

Today’s typical claims follow-up process degrades financial performance. One area in particular that drains valuable resources and lengthens the revenue to cash conversion involves the process of checking the status of a claim. This typically manual process requires significant staff time with a surprisingly low return. Roughly 80% of claim statusing efforts are on claims which are due to be paid anyway. But how do you know which claims to status, when, and how often? And what will you do with the status information when you acquire it? How will it increase the likelihood, speed and amount of cash you collect?

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Four Tools for More Effective Claims Management, Part 1: Predictive Analytics

Predictive models can accurately stratify claims and allow hospitals and health systems to think differently about which accounts to collect (and how) and which to outsource. With these models, you can predict with great confidence which claims are worth very little money, regardless of how much effort is put forth, providing hospitals and health systems with an opportunity to change the claim management paradigm.

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