The healthcare revenue cycle is just beginning to feel the effects of consumerism as employers focus on containing healthcare costs. This means that today's growing financial pressures on healthcare organizations will continue to increase as consumers bear an increased financial responsibility for their healthcare costs. Revenue cycle solutions that extend the capabilities of your hospital information systems are the key to improving access management, responding to healthcare consumerism, accelerating cash collection and improving payor performance.
Improving Access Management
The use of financial clearance solutions in your healthcare revenue cycle enables you to determine not only insurance eligibility but also the ability and willingness to pay healthcare costs. Including medical necessity checking during registration, scheduling and ordering can help reduce Medicare denials and increase reimbursement by providing medically necessary services or by issuing an ABN for non-covered services. By facilitating improved workflow processes and eliminating the "paper chase," McKesson's solutions enable physician and hospital staff to accurately authorize services, determine, validate coverage for payment, assess payment risk and schedule resources prior to the patient's arrival.
Responding to Healthcare Consumerism
Consumer self-service is becoming a standard part of day-to-day life. Access to a healthcare kiosk and portal will become an expectation in your patient community. Allowing consumers to research healthcare costs, schedule appointments, receive online statements and make electronic payments are just a few of options available from McKesson to help you respond to consumer demands.
Accelerating Cash Collection
After services are delivered McKesson's healthcare revenue cycle solutions maximize revenue capture and streamline the billing and collection process with electronic claim processing, direct entry of Medicare claims, automatic secondary billing, remittance posting, document image retrieval, contract and denial management, and financial analysis.
Improving Payor Performance
McKesson also provides Web-based analysis and reporting capabilities, so healthcare organizations can better manage and monitor payor contracts. Sophisticated cost accounting tools, combined with the ability to provide detailed information about patient utilization and outcomes, enables you to analyze contract performance and manage contract terms and revenues. With the growing financial pressures on healthcare, organizations are forced to seek innovative strategies to improve revenue cycle performance. More than ever, healthcare organizations need a business partner that can help them improve access management, accelerate cash collections and improve payor performance.