RCM: Post-encounter

Front-end revenue cycle management, end-to-end revenue cycle management solutions, post-encounter; patient access management/solution

When it comes to medical billing, the deck is stacked against healthcare organisations. Everything from copays to service codes is complex and even just one misstep extends an already lengthy payment cycle. While many of these factors are out of your control, you can positively impact your organisation’s bottom line by optimising how you manage the information and processes that support payer reimbursements, patient payments and collections.

Accounts receivable is no place for revenue 

Billing operations can make or break your healthcare organisation’s financial performance. The more accurate and efficient the information and processes are that drive your revenue – your payments and collections – the greater your chances of keeping cash flowing, not lingering in your accounts receivable ledger.

OnBase Healthcare Revenue Cycle (RCM) solutions streamline your payment processes, automating manual processes and ensuring each task executes with the most up-to-date information. This suite of RCM solutions complements your revenue cycle from end-to-end, allowing multiple users to track patient, services and claims information throughout the entire lifecycle.

Complementing the systems and processes in your revenue cycle, OnBase RCM: 

  • Scrubs incoming transactions pre-post with account-level rules to reduce kick-outs and automate manual tasks to produce cleaner payment data.
  • Automatically posts payments at the patient-account level, synchronising payment posting data to assign index values and eliminate orphaned documents.
  • Automates the reconciliation of your bank deposits all the way down to your line-of-business system at a transaction level using sophisticated matching algorithms to eliminate manual tracking in third-party spreadsheets.
  • Improves patient statement quality and customer service through timelier posting and increased accuracy, resulting in higher patient satisfaction and reduced call volume.
  • Captures and collects denial codes for actionable follow-up, faster collections and fewer AR days
  • Reveals opportunities for denial prevention and reduces the cost to collect

Additionally, OnBase offers sophisticated business intelligence and analytics. This offers both high-level insight into this aspect of your organisation’s financial health as well as specific process monitoring of any area in the financial management chain to ensure your organisation collects the maximum amount of revenue for services provided. This allows your healthcare organisation to:

  • Identify the root cause of your most costly denials
  • Detect denial patterns and trends, as well as process breakdowns
  • Assess the financial impact of denied claims, delayed payments and partial payments
  • Analyse the effectiveness of follow-up resolution procedures
  • Uncover areas for improvement in your overall business process

Learn more about how OnBase RCM solutions automate tasks and streamline processes in the pre-encounter and encounter phases of your revenue cycle.