ReMedics Core Principles of Cash Management
Many of today’s automated solutions still generate a significant percentage of payment exceptions and defects. ReMedics specializes in revenue cycle optimization and the prevention of reimbursement delays with the use of AI, Robotics Process Automation (RPA) and Enterprise Content Management (ECM). With these technologies, ReMedics ensures that correct information is applied to patient accounting systems by cleansing data prior to upload. A configurable rules-based engine scrubs ANSI 835 payment data before it’s submitted to the host billing system. If there are exceptions, we then provide automated exception worklists for those to be efficiently reviewed and corrected for re-submission. With our robust reporting options, including executive dashboards and drill-down scorecards, clients can review details on all claim submissions, payments, denial/defects and collection activities.
Within our Revenue Cycle Outsourcing (RCO) solutions, there are fundamental Core Principles of Cash Management that we utilize to increase our client’s revenue cycle efficiency and to optimize their overall A/R performance. These principles include:
- Same day processing of today’s receipts
- Use best capture solutions
- Capture all adjudication data
- Automate separation of remittance data
- Use data validation rules to cleanse, scrub and normalize payment data
- Integration with Host Billing Systems
- Provide reconciliation from bank deposit through billing system
- Performance monitoring metrics by payor/user
For clients needing flexibility in their business office, ReMedics can provide customized RCO services designed to lower operational costs, increase staff productivity and maximize reimbursements. Our solutions for fully outsourced Payment Processing, Data Validation and Treasury Reconciliation are delivered across all healthcare delivery networks, including: Hospitals; Physician Practice Groups; MSOs; DSOs; and Eye Care Networks.
Contact ReMedics today to discuss how we can help to implement our Core Principles of Cash Management in your organization and to exceed your A/R performance goals. We can tailor our solutions and scope of services specific to your business office needs.