Optimize Financial Performance, from account … challenges and to enhance financial performance...

4
Optimize Financial Performance, from account creation to resolution

Transcript of Optimize Financial Performance, from account … challenges and to enhance financial performance...

Optimize Financial Performance, from account creation to resolution

SearchAmerica®: powerful insights, proven products, positive results

As a healthcare industry professional, you’ve likely experienced a growing number of self-pay patients in recent years — and with it, an increase in the number of accounts reaching collections. To manage the process and maximize your revenue, you need efficient, effective systems in place to ensure that every revenue opportunity is realized — from account creation to resolution.

For more than 15 years, SearchAmerica,® a part of Experian, has been helping clients to address current challenges and to enhance financial performance throughout the revenue cycle. Combining proprietary data and analytics with a dedication to healthcare, we’ve recently expanded our product line to enable even greater revenue optimization and ensure that you produce healthier bottom-line results for your healthcare system.

We’ll provide you with the tools you need to capitalize on the identity, financial clearance and collections stages of the account cycle, including:

• Analytics—Enhance your revenue cycle performance and build a segmentation strategy for open patient accounts. We provide both credit and noncredit data and vast data resources, allowing us to accurately predict patients’ propensity and ability to pay.

• BestPracticeConsulting—Get the insight you need to address operational challenges and meet organizational goals. We work closely with our clients to understand their needs and provide the expertise required to create positive improvements throughout their healthcare systems.

• WorkflowOptimization—Maximize revenue and contain collection costs. With the use of widely integrated systems, we help our clients improve cash flow by establishing effective workflows and moving accounts seamlessly through the revenue cycle.

• Benchmarking—Gain unmatched visibility into your collections performance and compare results to other healthcare systems. Our advanced monitoring systems enable real-time reporting, so you’ll always know where your business stands.

We support our clients through each phase of the account life cycle to help them automate their processes, accurately identify both potential risks and opportunities, and improve productivity as well as patient satisfaction. With our newly enhanced product suite, now you can optimize revenue at every account stage.

Identity

Quickly and efficiently identify the most accurate and up-to-date patient demographic information for billing and collection purposes. Minimize inaccuracies and improve the collection of cash balances by ensuring that the correct patient information is entered into the hospital registration system. Proactively recognize and flag potential cases of medical identity theft to reduce the resources required to manage and track fraudulent activity.

• Preventpatientfraud

• Verifyandcorrectpatient contact information

• Increaseinsurancereimbursements

• Reducereturnedmail

Identity Financial clearance Collections

FinancialClearance Program screening and enrollment Streamline the screening and enrollment process for numerous financial assistance programs and correctly identify the patients who qualify using a leading unbiased, automated system. Increase the productivity of hospital resources and build compliance with government regulations by executing community benefit programs more efficiently, leading to strengthened community and patient relations.

• Identifyfinancialassistanceopportunitiesforpatients

• Automatetheprogramenrollmentprocess

• MaximizeMedicaidreimbursements

Point-of-service collections Improve cash flow and reduce accounts receivable aging by establishing workflows based on a comprehensive view of the patient’s full financial history. Seamlessly link open, unpaid patient accounts across all facilities in the entire healthcare network to display a consolidated financial picture to the registrar or financial counselor.

• Identifyapatient’spropensitytopay

• Displayandcollectprioroutstanding balancesacrossthehealthcaresystem

Collections

Maximize self-pay collection recovery efforts by combining ongoing account monitoring with industry-leading data and analytics. Improve in-house collections and agency performance by identifying the most collectible accounts and determining the best strategy to collect the most dollars, optimizing financial performance.

• Driveworkflowwithaccount segmentationandanalytics

• Optimizecollections

• Enhanceagencyperformance

• Monitorunpaidaccountsfor financial improvement

Drivingbottom-lineresults With powerful insights, proven products and positive results, SearchAmerica provides a wide range of real-time, integrated products and services that have helped healthcare systems across the U.S. improve their revenue cycles. For a product demonstration or to learn more about SearchAmerica, call us at 1 763 416 1000 or visit www.searchamerica.com.

Identity Financial clearance Collections

Financial clearanceIdentity Collections

6450 Wedgwood Road, Suite 100 Maple Grove, MN 55311

www.searchamerica.comPhone: 1 763 416 1000

© 2011 SearchAmerica. All rights reserved.

Experian and the Experian marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc.