How Revenuologists™ Help Your Business
Using advanced data analytics technology, Zotec Partners delivers revenue cycle management (RCM) services far beyond the norm. We refer to these unique, data-powered capabilities as Revenuology™ — and our employees who drive the science behind getting you paid are Revenuologists™.
The health care industry is changing, and health care organizations must focus on delivering exceptional patient experiences through value-based care. The shift from fee-for-service to value-based care has impacted the economic models of many health care organizations. As such, many have begun to re-evaluate their approach to RCM, opting to outsource all or parts of the process.
Outsourcing your RCM to the Revenuologists at Zotec Partners provides your health care organization with a comprehensive and flexible RCM solution driven by robust data science, allowing your physicians the freedom to focus on what matters most: clinical care.
Revenuologists Automate RCM Functions
The revenue cycle process has become increasingly complicated for health care organizations.
Changes in reimbursement and the boom in high-deductible health plans (now used by more than 39% of Americans aged 18-64*) have forced health care organizations to hire expensive personnel to help manage claim denials written off to bad debt. Unfortunately, this human input often comes part-and-parcel with increased error rates. The more efficient solution is automation, which is virtually error-free and ensures that claims are paid quickly.
Many RCM functions can be made smarter and faster through automation, including follow up with payers throughout claim lifecycles (which takes 10-20 minutes per payer when done manually). By automating your RCM processes, Revenuologists at Zotec can streamline your claims management and reimbursement activities — as well as, boost your top-line revenue by increasing the scale of collection on each dollar and eliminating the need to hire additional personnel.
Revenuologists Drive Growth With Data
Advanced data analytics technology is key to critical decision-making, understanding workflow efficiencies, and making acquisitions in the modern health care business. When using legacy data platforms or in-house solutions, groups are often forced to wait weeks or months for relevant revenue cycle insights. Don’t lose your competitive edge in today’s fast-paced health business landscape, where real-time RCM is crucial.
Revenuologists at Zotec will give your health care organization immediate access to real-time RCM data; instant insight into your organization’s financial health. This transparency will allow you to make proactive business decisions and eliminate potential problems before they arise — resulting in intelligent, strategic organization growth.
Revenuologists Connect EHR and Practice Management
Most health care organizations use electronic health record (EHR) systems and practice management software to handle financial and administrative processes. Select an RCM partner that can extract and analyze this information without hiccups.
Zotec’s RCM is EHR-agnostic and can fit into any health care IT ecosystem, even if it’s a legacy data platform or in-house solution. Our Revenuologists produce a clean bill at first pass that includes all necessary data elements — while providing notifications about information that may not have been captured in the clinical setting or at the front desk.
Revenuologists Handle Clinical Data Exchange
Proper data flow between acute and ambulatory sites of care is key to managing health care patient populations. Because the industry is shifting from fee-for-service to value-based care, health care organizations need to have access to clear patient profiles and all other relevant patient data, at all care sites.
Revenuologists at Zotec optimize workflows and control cost-to-collect with an RCM that aggregates data from both acute and ambulatory care sites. The ability to access unified patient records across multiple care sites is key to every organization’s future success as the health care industry evolves.
To read more about how Revenuologists can improve your health care organization’s RCM, please read Ten Considerations to Improve Your RCM Experience.
*2017 study by the National Center for Health Statistics at the CDC