Revenue Cycle Managementsbs
REVENUE CYCLE MANAGEMENT
Billing & Revenue Cycle Management System is a specialized patient billing systems for health care institutions. The automated system provides a billing process that reduces high cost of labor encountered through patient billing in many medical institutions. Healthcare revenue cycle management system is designed around the basic health constructs of patient transfers and services and can bill patients by the time spent in wards and locations using DRG and ICD codes.
Billing and Revenue Cycle Management System spends up time between service provision and payment collection through capturing all patients service activity ensuring that none is left out, thereby increasing cash flow and revenue collection of the institution.
The automated system is designed for open customization so as to respond to future changes in business and service delivery models of hospitals
The Billing and Revenue Cycle Management System includes the following Modules:
- Integration – Automatically receives and processes real-time incoming patient and service data from source systems and can send updates back to the original systems.
- Billing – Automatically calculates the charges based on the healthcare facility’s billing policies and generates invoices for patient treatments.
- Accounts Receivable- Automatic or manual receipting of payments from debtors with allocation of each payment to the relevant invoice.
- Electronic Claims – Automatically generates electronic claims to the relevant health agencies, submits the claims and accepts payments electronically, speeding up the billing cycle from weeks or months to days and greatly improving cash flow.
- General Ledger – Extracts GL Journal file for a period from the billing transactions for posting to the Financial System General Ledger.
- Reporting – Reports on the billing and revenue performance through a series of standard reports and client-uploaded Crystal Reports as well as allowing for detailed analysis and exploration through custom reporting.