Diagnostic & Laboratory Revenue Cycle Management Solutions
When billed correctly, high volume and/or high-dollar lab and radiology tests can significantly augment your lab’s revenue. However, perpetual billing errors can be catastrophic, likely costing you hundreds of thousands of dollars in missed lab and radiology reimbursement annually.
The good news is that the right rcm billing solutions can make a difference. CRYPTON’s powerful data-driven solutions help you capture lab and radiology reimbursement with ease. By integrating with your existing lab information system, CRYPTON’s powerful lab billing solutions help you streamline processes and capture revenue for every lab and diagnostic test you perform. Take your lab RCM to the next level to gain the revenue you’ve earned.
Want to learn more? Take a tour of CRYPTON’s comprehensive laboratory revenue cycle management solutions to help optimize revenue:
Verify eligibility and identify hidden coverage.
Patients don’t always present to the same lab or radiology facility, nor do they present to these centers with any type of regularity. Thus, it’s difficult for to obtain and maintain accurate demographic and insurance eligibility information. You need lab RCM solutions that provide real-time eligibility information as well as detect unknown coverage after services are rendered.
Here’s how CRYPTON can help:
Ineligible patient insurance coverage is one of the leading causes of payer claim rejections and denials. CRYPTON’s Eligibility Verification solution provides customizable and easy-to-read payer responses. Beyond insurance eligibility verification, CRYPTON includes co-pays, deductibles, inpatient days used, and other pertinent benefit data. Armed with this information, you’ll be able to make payment arrangements and increase collections prior to rendering services.
A surprising percentage of your self-pay and charity patients likely have full or partial insurance coverage that your organization may not be aware of. CRYPTON’s Coverage Detection solution provides powerful, proprietary intelligence based on a decade-and-a-half of data from hospitals, health systems, physicians, specialty groups, ancillary providers, and payers.
Capture revenue from self-pay patients using laboratory & radiology billing software solutions.
Patients with high deductible health plans are often responsible for most—if not all—of the costs related to labs and diagnostic services. Yet, many patients simply don’t understand their financial responsibilities. You need radiology and lab RCM solutions that facilitate collection. CRYPTON’s patient payment solutions include lab and radiology billing software solutions that take the stress out of point of service collections and provide patients with an outstanding financial customer service experience, increasing the likelihood that they’ll follow through with payments.
Here’s how CRYPTON can help:
POS Collections & Processing
High-deductible health plans and self-pay patients make patient financial responsibility a key part of your revenue stream. Not only must you collect more money directly from your patients than ever before, but you also need to keep them happy while you’re doing it. That’s the only way to build patient satisfaction and loyalty.
Today’s consumers want the convenience and ease of paying their bills online, and that desire doesn’t change when those consumers become patients. CRYPTON’s Patient Notebook, a patient payment portal, provides a secure online patient payment center where you can send statements, collect payments, and more via a secure and safe channel.
Patient Statements & Communication
Patients often delay paying their healthcare bills—or refuse to pay them at all—simply because they don’t understand what they owe and why. These bills may take hours of staff time to create, fold, stamp, and address, not to mention the cost of postage and returned mail. With CRYPTON’s Patient Statements, you can design, create, and send patient statements that are easy for patients to understand and that drive reimbursement to your preferred payment options.
Accelerate cash flow with claims, remit, deposit and denial management.
Quick and accurate payments keep your lab and diagnostic facility running smoothly. Unfortunately, many barriers stand in your way: Missing charges, processing paper payments, and manually matching deposits to remits are just a few. You need automated remittance processing and reimbursement deposit management to gain real-time cashflow insight. By automating reconciliation, you eliminate thousands of hours wasted on labor-intensive manual processing, reduce the risk of errors, auto-post pre-reconciled download files, and expose missing items—all in a matter of seconds. Plus, with CRYPTON’s analytics, you can gain real-time insights into financial and operational performance. In addition, identify issues before they become problematic so you can proactively enhance workflows. When you’re processing a high volume of claims – as most labs do – it is imperative that the claims management interface is user-friendly and easy to navigate to support high productivity. CRYPTON’s solutions make it easy to process remittance advice to keep the cash flowing.
Here’s how CRYPTON can help:
Filing claims and collecting payments from commercial and government payers is the financial lifeblood of your organization. Powered by insights drawn from CRYPTON’s network of thousands of providers and organizations, our award-winning claims management software streamlines and automates your entire workflow for faster and more accurate medical claims processing, lower costs, and higher efficiency.
Optimal revenue performance hinges on constantly monitoring key performance indicators (KPIs) and acting decisively to address issues before they significantly impact your organization.
Denial & Appeal Management
The time-consuming process of denial management—which includes tracking claim adjudication, identifying denied claims, researching reasons for denials, collecting necessary documentation, and writing and submitting appeals – need not be so laborious. CRYPTON’s Denial and Appeal Management solution reduces the time spent researching the denial and appealing each claim.
Lost claim remittances and the time-consuming process of manually posting payments leads to costly delays, increased AR days, and unrealized revenue. CRYPTON’s Remit Management solution provides a cost-effective way to receive electronic remittance advice from payers and compile the information all in one system, saving you time and reducing manual processes and errors.
Remit and Deposit Management
Historically, reimbursement deposit management has been mostly a manual and time-consuming process, requiring providers to wait for each bank statement to arrive and manually reconcile each remit. Re-association takes multiple resources, and missing deposits or remits can take hours to resolve. CRYPTON’s Remit and Deposit Management solution provides up-to-date banking information so you can quickly and accurately post payments. The solution automates the remit and deposit management process by offering a direct connection to a provider’s banking accounts to save time, reduce days in accounts receivable, and improve cash flow.