January 29, 2024
Managing denials and prior authorizations are the most time-consuming revenue cycle tasks according to a recent survey commissioned by AKASA of 556 chief financial officers and revenue cycle leaders at hospitals and health systems across the United States.
But, there is good news for patient access teams looking to tackle these typically time-consuming and arduous tasks. RevSpring’s recently expanded True Access™ solution is a one-stop shop for fast, simple and accurate resolution of all patient accounts before or at the point of service.
True Access focuses on the four main areas of pre-registration:
No matter whether patients are insured, uninsured, underinsured or qualify for financial assistance—knowing and understanding their level of coverage prior to their visit is crucial. It’s one of the most important steps healthcare organizations can take to create a smooth process for being paid for services. True Access can check eligibility and attempt to close gaps in coverage if they exist.
Getting it right the first time is the motto of many patient access teams because handling claims denials is a laborious step and avoiding it can save significant staff time and organizational expense.
To reduce rebilling claims and decrease days in AR, True Access helps submit claims correctly the first time by handling steps like prior authorization and precertification, reviewing medical necessity, and managing coordination of benefits if there are multiple insurance plans at play.
As patients continue to carry responsibility for an increased percentage of their healthcare costs, preparing them for their financial responsibility is more important than ever. Tools to maximize the patient’s portion of the cost include accurate estimates connected with a top-notch payment portal – a combination that empowers patients to pay precisely what they can, when they can, from anywhere.
With healthcare staffing challenges headlining the news, organizations are looking to maximize the productivity—and avoid burning out—their staff. Empowering staff with intuitive workflows, delivered in a modern, easy-to-use interface, is an effective way to enable them to successfully manage registration.
True Access provides an intuitive staff view that is based on Work Queues. This allows staff to easily follow a guided workflow that drives consistency and accuracy for processes specific to your organization. Plus, real-time reporting facilitates accountability and improvement for managed staff.
When combined, these tools give staff all the resources they need to more efficiently handle registration tasks. And there’s another positive benefit: staff are able to focus time and energy on valuable patient interactions and exception cases that they are uniquely positioned to solve.
As organizations adopt these tools, they enjoy increased collections and reduced bad debt, while also seeing the benefits of increased morale and improved employee performance. But most significant? Patient satisfaction increases as they are empowered to self-serve and gain trust from accurate and transparent financial conversations from the start.