Revenue Cycle Management
With over 95% of patients being covered by insurance, it is inevitable that Healthcare providers are moving to a new generation Healthcare IT System, that is highly automated and optimized to manage ''Revenue Cycle''. Any dependence on a large medical coding/ insurance team or on 3rd party agencies to manage the RCM process is quickly going to turn increasingly unviable, as with increasing volumes, the process becomes very cumbersome, unless changes are made to the processes and systems to meet the changing market scenario. Once facilities make this transition, the Revenue Cycle process gets optimized and simplified and facilities can eliminate their dependency on 3rd parties to manage the RCM. This will ensure that operations cost are brought down to improve profits in a very competitive market place.
Lifetrenz RCM is a New generation solution, built to manage the Insurance and Billing flow for a Healthcare Facility with the following objectives:
- Reduce Insurance Claim Rejections.
- Reduce Manual efforts to track Insurance cases.
- To improve Operational Efficiency and Reduce Claim processing time.
- To improve Revenues and reduce revenue realisation time.
- Queue based workflows to ensure all bills are finalized.
- And to effectively track AR of Patients, Insurance receivers and Corporate/organization Payers.
The main modules in the Lifetrenz RCM to enable the above are
- Contractual Management - of all forms of Payers (Insurance, Employer, Government etc)
- RCM Enabled Clinical Workflows - To Avert Denials early, and fasten revenue realisation
- Claim Processing & Gateway Integration - Automated work Queues to manage each step of the revenue realisation process post rendering your services.
- Accounts Receivable Management - To manage all aspects of your account receivable
- eJADA Compliance - To ensure there is no claim XML rejection due to eJADA compliance requirements.
For an effective RCM process all the above have to work in sync, and when you outsource only the Claim processing to a 3rd party agency, you are not covering all the other processes that needs to be managed well before the claim process starts.
Download our white Paper on Contractual Management & RCM - Can Make or break the organization to learn more.
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For a description of some of the important processes covered in our RCM, please click on the links below
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Revenue Cycle Management
The most powerful and automated Contract Management and Revenue Cycle management system in the region, can help you achieve Zero Denials, increased revenues and faster revenue realization...
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RCM in Clinic Workflows
Attempting to manage claim denials after the event, is costly and causes unnecessary delays in revenue realization. Depending purely on the Medical coding team post the consult is not the most effective way...
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Insurance Contract Management
With 95% of your patients being covered by Insurance it is imperative that you have a very elaborate Contract management system that can capture and configure all the variable rules around...
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Claim Processing
Lifetrenz RCM module is a New generation solution, the RCM maintains Separate Workflow Queues and maintains the Stages of a case within each Queue. The Queues maintained are for ePrescription,...
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AR & RA Reconcilliation
The Lifetrenz RCM solution has an elaborate Accounts Receivable module to Manage all account receivables and reconcile Remittance Advice from insurance payments.
When the bills are Finalized in OP DNFB... -
eJADA Compliance
With over 17 eJADA parameters to mandatorily submit in your eClaim XML, the Lifetrenz Clinic Management ensures that the doctor Captures all mandatory parameters and the Lab results mandated for the captured Diagnosis...
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eSource Reports
Dubai Statistics Center (DSC) has mandated 19 reports in two parts (emirati and non emirati) to be submitted monthly or annually. Lifetrenz Clinic allows you generate these report in the prescribed template format from the system...
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Request a Demo
If you are a decision maker at a Healthcare Facility, and would like to see a Demonstration of any of our Products for the Healthcare Vertical, We would be keen to demonstrate the same. See all the workflow and processes at you clinic in a demo.