Live Webinar | Legal and Regulatory Compliance
Save
Live Webinar | Health Plan Payment and Reimbursement
Save
Live Webinar | hfma:content/topic/behavioral_ethics
Save
Article | Revenue Cycle Technology

Revecore helps hospitals increase revenue with technology-driven underpayment review and recovery solutions

Sponsored by Revecore
Article | Revenue Cycle Technology

Revecore helps hospitals increase revenue with technology-driven underpayment review and recovery solutions

How do you help healthcare organizations navigate the biggest challenges in healthcare?

Healthcare reimbursement was already challenging without the repercussions of COVID 19. Resource constraints both in staffing and technology have made it increasingly difficult for revenue cycle teams to stay on top of identifying and recovering underpaid claims. Our singular focus with our underpayment review and recovery solutions is to stop the leakage and increase revenue. Our solution is built on unique, customized technology to collect dollars that would have otherwise gone unrecovered. We combine robust, proprietary technology – 500+ algorithms and underpayment queries – and our 25+ years of experience to ensure that our clients receive maximum reimbursement. We leverage information and ideas from our nationwide experience to help hospitals improve their internal revenue cycle processes and strengthen their contracts with payers. The synergy of our collective intelligence, robust technology and vast library of payer data recovers full reimbursement and supports our unwavering commitment to improving the revenue cycle for our clients.

What advice would you offer to healthcare leaders when choosing among vendors?

Selecting a qualified partner with exceptional service and recovery results is key when outsourcing underpayment recovery. It is important to choose a vendor that offers a highly automated solution but does not overlook the need for human touchpoints as well. While our robust technology reduces the need for human intervention, a critical component of our offering is the experience-base and specialized knowledge that our analysts bring to each claim. We take a consultative role by advising where improvements can be made to help prevent future underpaid claims before they happen. We recommend providers establish a strong, collaborative partnership with a solution provider that maintains a responsive technology and automation infrastructure. Providers should seek vendors that will establish a true ongoing partnership and provide regular feedback on trends and reimbursement opportunities. Healthcare leaders should partner with an organization that offers the combined benefits of technology, expertise and unsurpassed experience to provide invaluable process improvement and industry leading collections.

What is some advice you can give providers for a successful implementation of a new product or service?

Because of the wide variation in hospital operations, it is essential to contract with a solutions provider that can provide flexibility based on a hospital’s unique needs. 

During the implementation process the vendor must ensure that it has all processes in place for data privacy and HIPAA compliance. It is increasingly important to contract with a partner, like Revecore, which is SOC 2 Type II certified. This confirms the effectiveness of the vendor’s systems. Revenue cycle is complex and requires constant attention in this ever-changing industry. Revecore has the technology and expertise to help hospitals stay on top of regulatory changes, maintain best practices and drive improved financial outcomes. 

Quick Facts

  • 8 years on the Short List:
  • 100% of peer reviewers agree or strongly agree that they would recommend BLS|Revecore’s underpayment review services to a colleague. 

About Revecore

Revecore is a leading provider of Underpayment Recovery; Denials Recovery & Prevention; Transfer DRG and Complex Claims Reimbursement. Serving 1200+ hospitals across the country, we offer health systems over two decades of unrivaled technology and expert insight into the most challenging areas of revenue cycle to ensure they are appropriately reimbursed for the care they provide.

To learn more about HFMA’s Peer Review program, visit hfma.org/peerreview

Sign up for a free guest account and get access to five free articles every month.

Advertisements

Related Articles | Revenue Cycle Technology

Executive Roundtable | Cost Effectiveness of Health

Optimize the cost effectiveness of health through prioritizing the patient experience

Read up on various strategies from several health system executives, including taking full advantage of EHR, reducing expenses, improving patient experience and so forth.

Sponsored Content | Audit and Internal Controls

Clinical Audits and Denials Research Report

HFMA, with sponsorship by MRO, surveyed 317 healthcare revenue cycle, finance and accounting executives to understand how organizations are handling claim audits, risk exposure, claim tracking, and reserves.

Blog | Risk Management

Healthcare News of Note: Healthcare cybersecurity professionals are unsure they have enough resources

Healthcare News of Note for healthcare finance professionals is a roundup of recent news articles: Healthcare is one of the least confident industries when it comes to having the resources to ward off cyberattacks, the new 988 Suicide & Crisis Lifeline sees a 28% hike in use in its first month, and Mayo Clinic, Rochester, is No. 1 in a global list of “best smart hospitals.”

Article | Revenue Cycle Technology

Revenue cycle technology budgets rise to meet need for automation, AI and robotics, says new survey

See five areas where there is room for additional automation according to respondents in a recent survey. Also read about using AI in the revenue cycle and the benefits it brings hospitals and healthcare systems such as dealing with staffing challenges, dwindling margins and increased denial rates.