Systemware Introduces New Revenue Cycle Management Solution for Hospitals

Systemware, Inc., the leading enterprise content management company, today announced the launch of Centraspect HC for Revenue Cycle Management, a new solution that helps hospitals streamline their patient billing and collections processes. Centraspect HC for Revenue Cycle Management captures billing, claim and payment information and delivers it in a single, unified view to support hospitals? efforts in expediting the billing cycle. By providing a virtual view of a patient?s complete financial history, Systemware helps accounting personnel accelerate cash collections, facilitate efficient billing processes and reduce patient billing processing costs.

The financial health of any hospital depends upon the effectiveness of its patient accounting group. With hospitals facing increasing economic, competitive and regulatory pressures, there is intense emphasis to begin the billing process sooner, generate initial and secondary claims more quickly, while increasing overall operational efficiencies within the business office.

?To reduce write-offs, hospitals must capture and present billable charges, generate more clean claims, and process payments more quickly and efficiently than in the past,? said Gordon Sellers, director of healthcare solutions, Systemware. ?Systemware?s Revenue Cycle Management application provides a powerful solution to meet revenue objectives. Through integration and extensive data management facilities, our solution works in tandem with the hospital?s existing claims and billing system to provide a complete and accurate view of key patient data to support effective billing practices.?

Key features of Centraspect HC for Revenue Cycle Management include:

• Automate claims payment posting process through support for automated workflow and ANSI EDI 835 formatted EOBs.
• Integrates with existing claims system.
• Provides role-based access by user to ensure security and compliance.
• Provides a logical view of all patient information including claims, EOBs, secondary claims and correspondence, organized in a virtual patient chart.
• Provides a single, scalable repository and detailed indexing for all documents ? including claims, EOBs, check images, and supporting documentation.
• Displays operational and executive RCM dashboards, highlighting operational bottlenecks and financial impact.

Facilitates call center support for faster action on patient and provider inquiries. Centraspect HC for Revenue Cycle Management will be used in the business office by patient accounting to capture all documents and data associated with any explanation of benefits (EOBs) and electronic remittance advice (ERAs) and is integrated with a hospital?s current claims and billing system, allowing for line-item level reconciliation of outstanding claims. When secondary claims are submitted, an image of the primary EOB can be attached as required to that submission. This application facilitates the rapid scanning of documents or acceptance of 835?s from lockboxes and payors, as well as, speeds payment posting which increases throughput and reduces the costs associated with processing.

Centraspect HC for Revenue Cycle Management sits beside (and does not replace) a hospital?s claims and billing system. It speeds the capture of EOB and remittance data by automating many current manual steps. As a result, hospitals will require fewer payment posting staff to operate a more efficient accounting group. More payments can be straight through processed and secondary claims can be generated more quickly, reducing accounts receivable days outstanding.