• Importance of accounts receivable management which is why we assign accounts to members of our accounts receivable (AR) team after the claim is submitted. The AR life cycle does not start when the claim is denied, it starts the day the claim is submitted which is why we have team members dedicated to checking claim receipt and status after the claim is submitted. In addition to internal AR workflows, Catalyst team members provide regular communication to clients to ensure they understand their AR and are able to resolve any potential issues that are impacting cash flow
• CLIENTCONNECTTECH provides expert AR management services as a stand-alone service integrated within your in-house billing operation or as a part or our broader outsourced RCM services.
• The one thing that best differentiates CLIENTCONNECTTECH from all your other billing solution options is our relentless pursuit of your missing revenues. After many years of collecting data on how our time is spent throughout the billing process, we have learned that in order to produce the combination of maximum revenues with minimum collection times for our clients, nearly 50% of all the billing process time needs to be spent following up after a clean claim has been submitted. That reason alone is why the human element will never be able to be replaced in the billing process. No software can perform the unpaid claims, follow up or denial management process.
• We also know from comparing time studies in paper documentation practices to fully integrated EHR and PM practices that technology provides for a 28% gain in efficiency in the billing process. We’ll take it! But that does not allow for the replacement of the human element. Of that 28% gain, 70% of it comes from the claims submission phase and 30% comes from the payment posting phase of the process. Technology provides for no savings in the time required to properly manage your accounts receivables.