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Reimbursement Solutions for Billing Services

Ensuring maximum reimbursement is one of the many reasons why healthcare providers outsource their coding and billing. To help providers achieve this critical goal, outsource companies need revenue management tools for billing services that streamline processes while allowing them to grow and take on new clients.

The good news is that the right technology can help you boost client revenue, grow your business, and build a reputation for compliance at the same time. With CRYPTON’s powerful reimbursement solutions for billing services, you can automate tasks that can drain productivity. CRYPTON’s solutions apply a consistent and revenue-generating approach to each client’s unique revenue cycle management (RCM) processes. Take your company to the next level with RCM tools for billing services that provide real-time eligibility information and that can also identify hidden coverage.

Want to learn more? Take a tour of CRYPTON’s comprehensive solutions to help billing companies generate—and maximize—client revenue:

 

Utilize insurance verification tools to verify eligibility and detect hidden coverage in self-pay

When you oversee the billing for multiple clients, it becomes extremely difficult to manage the complexity and variation of today’s health plans. Your clients don’t always provide the right insurance and demographic information, making it difficult to submit accurate claims. In addition, clients may span multiple states, making Medicaid billing even more complex. You need revenue management tools for billing services that provide real-time eligibility information as well as coverage detection to find coverage in self-pay. Here’s how CRYPTON can help:

Eligibility Verification

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.

Coverage Detection

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 payments with point-of-service and self-pay patient collection tools for billing services

Capture payments with point-of-service and self-pay patient collection tools for billing services

Your clients now face the daunting task of collecting directly from patients, many of whom have high deductible health plans. You need collection tools for billing services that help clients think more strategically about financial patient engagement, improve collection rates, and cater to patient preferences and satisfaction. Savvy collection tools for billing services keep both clients—and patients—happy.
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.

Patient Notebook

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 using claims reimbursement tools for billing services

Quick and accurate payments keep your billing services company running smoothly. Unfortunately, many barriers stand in your way: ensuring clean claims, 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 cash flow 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. Once the claims are processed, the work isn’t done – CRYPTON tracks claims through adjudication so that nothing slips through the cracks. If we don’t receive a response to a claim, we’ll automatically check up on it so that you can have confidence that you’ll be reimbursed in full. CRYPTON’s claims management solutions make it easy to process remittance advice to keep the cash flowing. Not only does CRYPTON’s platform increase reimbursement but it also streamlines workflows. CRYPTON allows for the creation of work centers for management. With work centers, you can boost productivity by creating workgroups that focus your staff on the claims you assign to them; group claims by rejection message; filter, reassign, and export claims; and save time by pulling rejections across multiple accounts into one work list. Here’s how CRYPTON can help:

Claims Management

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.

Payment Analytics

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.

Remit Management

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.