One of the many challenges in the healthcare revenue cycle management process is reconciling claim remits against cash received. Improperly managing this process creates widespread and far-reaching issues across finance, cash management and claims processing business units.
CARS can help you better manage this process while providing tight integration to your existing claims processing and financial systems. CARS is a joint venture between Allina Hospitals & Clinics and LogiSolve, LLC.
When the reconciliation process fails or is delayed, each business unit involved is impacted in a unique manner. The ability to smoothly and quickly reconcile cash and claims is critical. The reconciliation system must:
Validate incoming data sources for errors
Handle data format discrepancies among payers
Provide adequate reporting and status
Operate within the standards
Support quick addition of new payers
These address the core processing needs of the reconciliation system. Additionally, the system must:
Provide notification for errors and exceptions
Reside on a robust operating platform
Scale to allow for future growth
Operate securely and efficiently
Prior to sending 835 claims remit documents to backend billing systems for processing; the claims are reconciled with payments received. Claims can be split between multiple back-end systems as business logic dictates.
CARS manages claim remit and payment discrepancies, providing management tools and reporting to alert and address processing issues.
After claims processing is complete, CARS validates posting of claim remit data to deposits and provides cash posters the tools to balance deposits and assist in manual posting where required.
Comprehensive financial reporting is provided to report on cash received, posted and any remaining or un-posted cash that has not associated to a claim remit.
Front-end validation and error handling of 835s/payments
Correlation of 835 to payment prior to processing
Same day posting of cash to patient accounts
Ability to split 835s between multiple back-end systems
Reduces number of runs by batching claim remits
Deposit reconciliation/Batch verification
Electronic handling of intercompany transactions
Detailed financial reporting
Integration to existing claims processing and financial systems
Fewer resources required to manage cash posting process
Acceleration of cash and claims reconciliation!
LogiSolve uses a light-weight project management methodology on top of an iterative development approach. Our approach to software development builds quality assurance into the construction process, producing thoroughly tested solutions at the unit, module and system level. LogiSolve success as an organization is a tribute to its adherence of its principles toward clients, employees and quality.
