Home » Services » Overview
Healthcare Financial Management Services
Being a medical practitioner is not just about providing medical care. The complexities of healthcare claim and AR management, over and above the pressures on providers in the form of increased paperwork, lower insurance re-imbursements or denials, follow-up - add up to a huge administrative overhead. And then there is the millstone of compliance.
Pharmacists are confronted with delayed re-imbursements even after submitting claims. To begin with the claim re-conciliation is a complicated issue. All this adversely affects cash
flow.
Implementing a new technology promises relief, but would the purchase of a product solve the problem in its entirety? To work the maze of the healthcare claim system a judicious mix of knowledge and expert based manual intervention, in no small part supported by technology and processes, are required to come out successfully at the other end. Would healthcare providers benefit more from outsourcing the claim and reconciliation process or from using their own time in managing their account receivables systems?
Our Healthcare AR services combined with our powerful technology ensure expedited payment, reduce claim rejections and minimize your administrative overhead besides total cost of ownership (TCO).
Compliance
Our compliance framework, integrated into our software and service model, ensures compliance readiness for HIPAA, Sarbanes Oxley and SAS. We also offer onsite consulting in this area.
Benchmarking to Measure Improvements
Tranquilmoney benchmarks a new client account by the following standard metrics and demonstrates improvements every month.
• DSO
• Provisional vs. actual bad debt
• Amount of unbilled & held revenue
• Actual collections
• Write offs & Unapplied cash
• CMN tracking by # outstanding
• aging by days
• Data Capture accuracy
|
Related Reading