Empowers providers with rare insight to improve net revenue across the patient continuum of care.
Every healthcare provider has to be financially healthy to deliver healthy patient outcomes. With daily regulatory uncertainty, payment caps and cuts, providers are forced to look internally on how to minimize the cost of care to stay viable. Without a net margin, providers can’t fulfill their mission – at least for not a long time. Cost-2-Cash Analytics solution addresses a tough challenge faced by providers – what’s the cost of care per visit and how can we improve the net revenue with the same level of care?
CentraMed Cost-2-Cash Analytics solution gathers, normalizes and connects the data points across the entire patient life cycle from pre-patient care, patient care, care coordination, discharge, to billing and reimbursement. With visit level analytics, providers can compare the cost, charge, cash, and denials to assess whether the encounter was profitable. Empowered with this rare actionable insight on a net revenue per visit, Providers can identify and address issues at every touch point of the patient life cycle from cost of supplies, drugs, coding, billing, charges, to denials and adjustments. Profitable departments, case types, and physicians can be encouraged while corrective course of action are set up for under-performers.
Key Features & Benefits:
- Connects the dots across the entire patient life cycle to provide integrated view – financial, clinical, and operational – of a patient visit
- Integrates pharmacy, and supply costs, charges, remittance, denials, and audits at a visit level.
- Creates a linear patient record across all care providers as a foundation for HIEs & ACOs and handles bundled payments
- Links Item Master with Charge Master and Remits to provide Cost, Charge, Cash @ Line Item Level per patient visit
- Aggregation at many levels – physician, department, procedure, location, time – with multi-dimensional analysis at any touch point of a patient visit
- Enables care coordination and connectivity between different phases of a care and departments
- Provides powerful insight on costs savings, revenue leakage and recovery opportunities
- Establishes a data-driven defensible pricing strategy based on acquisition costs
- Highlights Physician Preference Items & suggest “like” items, benchmarks for high cost supplies for cost savings and net revenue maximization
Cost-2-Cash Analytics provides hard to obtain insight on total cost of care and net revenue per visit leveraging proprietary analytics platform. With analytics across any touch point of a patient life cycle, Providers can optimize costs, improve efficiency, maximize net revenue and deliver better patient outcomes. Net Revenue gain is in our DNA. Click here and find out how !!