Solutions for Finance Professionals
Delivering ROI and Revenue Cycle Improvements
As a finance professional in the healthcare sector, you are witnessing an unprecedented number of factors affecting profitability. Heightened performance expectations, reimbursement pressures and increasing cost structures require processes that drive efficiency and performance improvement.
Compelled by a regulatory landscape that is beginning to tie profitability back to outcomes, you are responsible for the bottom line - and dependent on technology-enabled processes to help your team succeed in mitigating risk and generating appropriate reimbursement. Critical to achieving this will be the use of systems and tools that address documentation accuracy, accelerated billing and quality performance reporting.
ProVation® MD Streamlines the Procedure-to-Billing Process
Quickly guiding physicians through pre-defined, structured documentation fields enables all departments - from coding to billing and beyond - to be provided with thorough documentation immediately following the procedure. This results in:
- Accelerated billing cycles and cash flow
- Increased efficiency as physicians no longer have to revisit the procedure note to review, edit and sign transcriptions of the dictated procedure - with ProVation MD, the physician typically signs the completed note right after the procedure
- Reduced number of coding clarification requests made to physicians because the procedure note is clear and thorough
- Enhanced physician documentation that is clearly understood by coders
- Increased efficiency submitting to quality registries as required data is collected at the time of procedure
ProVation MD Delivers Rapid ROI
The experiences of Huntsville Hospital demonstrate the potential ProVation MD has for accelerating ROI:
- Reduced CPT® errors
- Improved coding compliance
- Speeds time-to-bill
- Improved workflows
- Eliminates transcription costs
Automatic updates of procedure documentation paths and new codes eliminate the need to continuously maintain documentation templates internally.
ProVation MD Enhances Profitability and Productivity
Deploying ProVation MD may help you achieve immediate productivity gains, direct cost savings and potential revenue recognition:
- Improved physician and coder productivity
- Most appropriate and consistent coding possible
- Streamlined clinical quality and operational performance reporting
- Decreased transcription-related costs
- Minimized ICD-10 physician training on new procedure documentation requirements
ProVation MD Minimizes Risk
ProVation MD helps minimize risk of penalties associated with payer and compliance audits. Specifically, ProVation can help ensure thorough physician procedure documentation needed to support coding decisions. It can also help ensure that appropriate documentation is included in the procedure note to support your facility's expectations around compliance requirements.
Discover why ProVation MD is the right solution to help your facility streamline its procedure-to-billing processes, enhance profitability and productivity and minimize risk.