Outdated Hospital Registration Process Causes Patient Pain, Dissatisfaction and Revenue Loss
Core Facts
Healthcare Software Application Helps Hospitals Get Registration Right the First Time
CINCINNATI, Ohio -- January 16, 2008 - Cincom Systems and Provider Advantage have unveiled their Revenue360™ Insurance Code Solution, a healthcare software application which increases patient registration accuracy and boosts revenue, cash flow and operating margins
Registration - point of entry … point of pain
One major process that stymies patients and healthcare providers starts at the patient's point of entry - the registration process. Outdated manual processes and inaccurate or flawed data can quickly sour a patient's experience, delay treatment, frustrate staff, and have an adverse effect on hospital revenue. Patient insurance information gathered at the point of registration must be accurate to ensure prompt payment of claims. As the payer market becomes more complex with compliance issues and regulatory/contractual rules, consistent accuracy throughout the registration process becomes more challenging to the registrar.
Changing point of pain to point of gain
Delayed, denied or unpaid claims cause unnecessary revenue loss. Revenue360 Insurance Code Solution proactively and intelligently guides and prompts registrars to capture and sequence the correct insurance information every time. The Insurance Code Solution also:
• Quickly keeps up with frequent healthcare and insurance changes
• Captures and manages patient registration rules to ease registrar responsibilities
• Provides scripts for front-end registration staff to ensure consistency and compliance
Insurance Code Solution is a component of Revenue360, which empowers healthcare providers to access and fully integrate information from an array of sources so all revenue cycle related data can be effectively and efficiently used by patient-facing employees. With Revenue360, healthcare providers can integrate all of the until-now disparate revenue-cycle applications, and add intelligence to all related processes. As such, Revenue360 enhances the entire revenue cycle by enabling customized access to complete, accurate and relevant patient information.
Quote:
"Patient registration accuracy is difficult to maintain as the payer market gets more complex and riddled with compliance and regulatory/contractual rules," said Chris Woodhead, director, Cincom Intelligent Business Applications. "Revenue360 Insurance Code Solution will ensure that the information necessary for valid registrations is accurately entered virtually every time. This will not only impact the bottom line, but will have a major impact on registrar morale and patient satisfaction."
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