With provider billing already incredibly complex, when you throw in consumer-directed healthcare and the cost shift to consumers, managing accounts receivable has become an even bigger pain point for providers. What they want is automation and a user-friendly system that enhances staff workflow, said Elizabeth Woodcock, speaker, author and consultant. Unfortunately, technology is not keeping up with user demand, she noted. In addition to the increased complexity of the billing process, what’s partly at play is the interface issue, which Woodcock said is becoming more and more critical as providers introduce additional clinical and administrative technology into their operations. What providers are discovering is that interfacing multiple systems is challenging and costly. As a consultant to physician groups, Woodcock recommends buying the same system as opposed to interfacing, which she says can be done but is risky and expensive. Integration, however, needs to be a priority.
THREE TRENDS TO WATCH Elizabeth Woodcock, co-author of Physician Billing Process, offers three trends in accounts receivable management:
1. Consumerism: With the shift of healthcare costs burdening consumers, technology is being asked to support more sophisticated financial plans and options for consumers, which require support from technology before, during and after a healthcare visit.
2. Information transparency: Now more than ever, providers need information transparency to help improve cash flow, and they’re demanding that technology and automation provide them with as much information to ensure charges are submitted in a timely and accurate manner the first time.
3. Better reporting: In order to manage their business, providers require more sophisticated management reports beyond their standard templates.
USER REVIEWS
“The results we have seen from Accuro Receivables Manager and MyMentor over a very short period of time have been nothing short of incredible. With the intelligence provided by these products, we reduced A/R days from 65 to 59 over a three-month period. One day in A/R equals $13 million for the nine hospitals in our region. Multiply $13 million a day by six fewer A/R days, and that’s a $78 million impact.”
Margie Souza, central business office director, Sutter Health Sacramento Sierra
Region
“AdvancedMD has developed an interactive solution that allows me to aggressively manage all of the elements of the claims process. The result is lower costs, reduced days in A/R, improved efficiency through the entire revenue cycle management process and increased revenues and profitability. With AdvancedMD, I was able to increase revenues for one of my physician clients by $30,000 per month.”
Jennifer Wooley, Superior Outsourcing Services, LLC
“Through our use of NextGen EPM, our average A/R rate is 12.6 days, compared to the national average of 39.01 days (MGMA 2007 Cost Survey report for Family Practice). Less than five percent of our accounts receivable is older than 60 days, with the national average being more than 29 percent, according to MGMA.”
Tiffany Nelson, MD, founder of Desert Ridge Family Physicians, Phoenix, Ariz.
VENDOR SHOWCASE
Accuro Healthcare Solutions
Accuro Receivables Manager
Accuro Receivables Manager is a Web-based solution designed to decrease bad debt, accelerate cash flow and improve the overall accuracy of financial reporting.
Contact: Sales Support, 877.321.0500, solutions@accurohealth.com
AdvancedMD Software
AdvancedMD
AdvancedMD provides a comprehensive Practice Management and EMR Solution that supports the entire revenue cycle. The intuitive workflow allows users to efficiently manage every step of the billing process for superior AR management. With AdvancedMD you’ll reduce denied claims and improve receivables, cash flow and profitability.
Contact: 800.825.0224, info@advancedMD.com
Boston Software Systems
Boston WorkStation
Boston WorkStation is a workflow automation and integration technology that provides an environment for on-demand process innovation and development. Boston WorkStation allows healthcare organizations to automate common tasks, including revenue cycle projects, interactions with Web sites, integrating new applications, systems and devices, and electronically monitoring and managing user activity.
Contact: Thom Blackwell, product manager, 866.653.5105, thomb@bossoft.com
CareMedic Systems, Inc.
Electronic Financial Record
The electronic Financial Record (eFR) extracts information from all pertinent host systems to create patient-centric, longitudinal financial records. It governs the activity across your business environment moving information to the right people only when automation requires human intervention. You can be sure you are working on the right things, making desired progress and see the results every day with eFR’s customizable and easy-to-use dashboard reporting.
Contact: Jose Miranda, sales analyst, 800.508.8494, http://www.caremedic.com/ eFR.aspx
Cerner
ProFit
Cerner’s ProFit Patient Accounting solution provides powerful tools like reporting to help manage and reduce Accounts Receivable. Additionally, online work queues are included that track all active A/R in the system and allow the receivables to be tracked and worked based on business office best practices.
Contact: Revenue Cycle marketing, 816.201.1024
DB Technology
RAS
DB Technology has assisted more than 200 hospitals in maximizing revenues and decreasing expenses by effectively automating the document management process. With RAS hospitals have the ability to eliminate costly manual paper laden processes and can easily unify, search and gain value from documents stored across all disparate data sources.
Contact: Rod Neaveill, 800.760.4096, ext. 119, info@dbtech.com
DST Health Solutions
MDr PracticeManager
MDr PracticeManager is a comprehensive physician practice management system that helps practices with appointment scheduling, medical billing, electronic claims submission, electronic remittance, insurance follow-up and payment processing. It works for groups of any size and specialty, including physician networks, hospital-based physicians, hospital emergency departments and management services organizations.
Contact: 800.272.4799, inforequests@dsthealthsolutions.com
Eclipsys
Sunrise Access Manager/ Patient Financials
Sunrise Access Manager/Patient Financials is a comprehensive revenue cycle management solution that integrates financial and clinical operations and helps healthcare organizations reduce costs associated with unauthorized services and mismanaged resources and improve reimbursement by collecting patient and payer information before services are delivered.
Contact: 404.847.5000, info@eclipsys.com
Emdeon Business Services
Emdeon Revenue and Reimbursement Solutions
Emdeon offers a family of solutions that deliver automated batch screenings of patient account information so providers capture more revenue both before and after patient visits. The Emdeon Receivables Analytics solution enables providers to systematically screen receivables for to identify payment sources and capture revenue that would otherwise be written off to bad debt or sent to costly collection agencies.
Contact: Emdeon Business Services, attn: Institutional Sales, 877.363.3666
Greenway Medical Technologies
PrimeARM/PrimeSuite
Greenway’s revenue cycle management service, PrimeARM, helps medical facilities reach financial objectives by streamlining the collection, use and delivery of patient and claims information as well as improving profitability and productivity while reducing costs and overhead. PrimeARM is a component of PrimeSuite, Greenway’s completely integrated and interoperable physician’s infrastructure.
Contact: Matt Cooke, national trade show and endorsement manager, 678.492.1409, mattcooke@greenwaymedical.com
McKesson Provider Technologies
STAR Patient Accounting, Receivables Workstation
The STAR Receivables Workstation is a GUI-based information processing system that supports the most efficient and effective collection methods for business office personnel. A component of STAR Patient Accounting, STAR Receivables Workstation provides enhanced navigation and expanded access criteria, and improves user productivity.
Contact: McKesson Provider Technologies Sales Inquiries, 800.981.8601
MedAssets
Accounts Receivable Management Solutions
MedAssets’ Accounts Receivable Management solutions reduce accounts receivable days, and increase revenue capture, cash collections and regulatory compliance. These solutions are part of the MedAssets Merge Technology platform, which includes revenue cycle technology and consulting; charge integrity and pricing; claims, remittance and denial management; silent PPO recovery; and decision support.
Contact: MedAssets Net Revenue Systems, 877.922.8463
Meditech (Medical Information Technology, Inc.)
Revenue Cycle
Meditech’s Revenue Cycle product includes accounts receivable management features such as: flexible bill generation, patient-friendly statements, automated reminders for proactive account follow up, A/R analysis reports, collector and denial management desktops, online bill pay, and electronic claim submission and remittance options.
Contact: Paul Berthiaume, public relations manager, 781.821.3000, ext. 5742, pberthiaume@ meditech.com
Navicure
Navicure Claims Management
Navicure provides physician practices with automated, Internet-based claims management solutions, including claims reimbursement, electronic remittance posting, secondary claims processing, advanced reporting and analysis, and ancillary services, such as patient statement processing, eligibility verification and data protection.
Contact: Matthew Halkos, 877.280.3334, sales@navicure.com
NextGen Healthcare Information Systems
NextGen Enterprise Practice Management (EPM)
NextGen Enterprise Practice Management (EPM) offers a proven solution for healthcare organizations that are looking to improve accounts receivable management. Through innovative features like WorkLog Manager and Background Business Processor, organizations submit cleaner claims and, ultimately, speed reimbursement.
Contact: NextGen sales, 215.657.7010, sales@nextgen.com
Purkinje
CareSeries Plus
CareSeries Plus combines Purkinje’s innovative practice management and electronic medical record software with a team of medical professionals to reduce your costs and maximize your income. Purkinje’s billing and coding experts work with you to manage every aspect of your accounts receivable ensuring you receive maximum reimbursement in a timely fashion.
Contact: 866.935.8069, info@purkinje.com
Siemens Medical Solutions USA, Inc.
Soarian Financials
Soarian manages receivables by linking front-end processes to payer rules – expediting accurate claim production and identifying payment variances through an embedded contract engine. Soarian’s embedded analytics help promote best practices, continually monitoring key performance indicators to help implement sustainable process improvements in support of key business goals.
Contact: 888.826.9702, usa.med@siemens.com
SoftLight Development
Manage My Practice
An easy-to-use, patient-centric EHR package that provides a complete billing solution, with on-screen billing, automatic checks and alerts for invalid coding and electronic bill scanning for non-EMR clinics. It also manages scheduling, doctor’s notes, electronic documentation, scanning and more, and is available as a pay-per-use subscription service that can be downloaded and operational in a day or less.
Contact: Glen Kimball, executive vice president, sales and new business, 888.362.7226.