As paperless as we strive to be, much of today’s business content still exists in an unstructured format – phone calls, faxes, emails and other paper-intensive work processes. Most billing and accounting solutions simply cannot capture or contain the information that supports complex healthcare financial processes like denial management.
OnBase Revenue Cycle Management (RCM) solutions capture, store, process, integrate and manage exception-based accounts, along with all of the unstructured content that encompasses them. And, with native automation tools, OnBase provides a single, system-wide workflow solution that helps healthcare organisations:
- Improve their days receivable outstanding (DRO) to receive more cash, faster
- Reduce their cost to collect
- Increase account collections and decrease denials
- Unify disparate data into a single platform with one-click access
What are the benefits of an OnBase healthcare denial management solution?
With OnBase RCM, healthcare organisations streamline financial processes. OnBase RCM:
- Combines the best of OnBase’s enterprise content management repository with a client-definable RCM user interface
- Offers simultaneous access to your line-of-business billing and accounts receivable (AR) system for seamless integration and ease of use – a key step for efficient denial management workflow
- Identifies the reason and source of each denied claim, allowing staff to isolate and prevent future reoccurrence of the denial while improving cash flow, training staff and reducing the number of denials
- Provides client-definable work queues to track performance at the facility, department, or user levels with dynamic drill-down reporting and charting tools for real-time status, data analysis and trending, and productivity
- Tracks the complete medical billing cycle of open receivables, including both open AR and denied accounts, and it generates reports to identify the efforts that resulted in payment
- Documents lag times between follow up and resolution, providing valuable information when it comes time for contract renegotiations.
Proven RCM solutions for the medical claims denial process
Because OnBase RCM provides the tools to capture denials, analyse trends and identify key issues that result in defects and denials, management can make informed, knowledgeable changes within those deficit areas. The account analysis application provides the tools needed to help:
- 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 OnBase solutions for pre-encounter, encounter and post-encounter phases of the revenue cycle.