Panacea Healthcare Solutions, LLC and National Healthcare Payer Networks, LLC have formed a partnership to market The Providers Payer Network, or TPPN, a solution aimed at improving hospital reimbursement by restructuring revenue cycle and managed care initiatives.
TPPN is a wholly owned subsidiary of Philadelphia-based NHPN,which is both a revenue cycle consultant and a bill processing service for the healthcare industry.
"Providers today need to adapt to multiple forces that drive change management and NHPN is an organization that specializes in managed care and reimbursement imperatives with providers knowing that reengineering creates significant opportunities for providers," said Ian J. Michel, president of NHPN.
TPPN allows hospitals to re-capture control over a subset of their revenue cycle and increase efficiencies, reimbursement and cash flow. When fully implemented it can help providers to change the current paradigm by increasing efficiencies, eliminating contractual abuses and creating a new revenue stream.
"NHPN has more than twenty years of management experience in hospital financial consulting with a stellar track record for customer service and expertise in managed care and reimbursement," said Frederick Stodolak, CEO of Panacea. "Many hospitals utilize companies that retrospectively look at 'zero-balance' accounts to identify areas where payers may have improperly paid the accounts. These companies often disrupt operations and often charge exorbitant contingency fees. With TPPN the process is not retrospective and instead ensures that optimum payments are received the first time," said Stodolak.
Panacea, with offices in New Jersey and Florida, provides advice and solutions that improve client financial performance and strategic position in the healthcare market. Panacea's "Hospital Zero-Base Pricing" program helps hospitals establish prices based on estimated or actual unit cost while maintaining or increasing net revenue levels.