PowerRCM - Revenue Cycle Management
Empowered Decision Making | Operational Excellence | Financial Gains
PowerRCM offers world-best Hospital Billing Technology (PowerBilling & Revenue Collection - PBRC), superior high quality expertise and resources, to enable a successful transformation of a healthcare institutions' revenue cycle management system.
PowerRCM unifies the business and clinical sides of healthcare by coupling administrative data, such as patient's demographics, appointments, with the treatment they receive through to creating claims, reconciling payments and managing all claim rejections.
Our RCM offering is future-focussed, whilst allowing an organisation to operate efficiently, as it grows, increases in clinical complexity and technically matures.
Our people, processes and technology enable client organisations to realise improved financial outcomes through cost control, reduced revenue leakage and revenue optimisation.
Our operational implementation methodology combines key areas of focus centred on RCM operational excellence as explained below -
PowerHealth’s PowerRCM creates sustainable operational excellence within a healthcare organisation by offering;
People and Process Improvement
- Reduce Risk & Implement Best Practice- We provide a fully managed service, drawing on deep revenue management expertise across our global footprint. Our management teams upskill and embed best practice within our client organisations
- Resource Confidence – Securing qualified staff can be difficult, PowerHealth have the necessary manpower with the financial and technical skills to achieve desired financial outcomes
- Empower employees – We are an extension of your billing department. Our management teams deliver training, leading to improved employee engagement, patient and healthcare practitioner satisfaction.
- Make a Difference- PowerRCM supports the health sector to better use available resources, while overcoming pressing challenges due to the rapid increase in population and shifting demographics which have increased the burden and demand on health services.
- Assurance and Continuous Improvement plans – Providing documentation to support quality and new process assurance and operational performance management.
- Increase Revenue – Our systems reduce manual processes, minimise rejections and correctly capture and identify billable services, providing you with multiple opportunities to increase revenue across your organisation.
- Reduce operational expenses – Our fully managed model allows you to reduce cost and complexity in human resources, software (purchase and upgrades) and compliance maintenance. This allows you to focus on delivering clinical services and patient satisfaction.
- Reduce claim rejections – claims transmissions are automated in PBRC and supports best practice processes for the management of claims; from the verification of data capture to reduce claim rejections, to the accuracy of applying complex billing rules, automated workflows to reduce the lead time to claim submission, and front-end tools to track the progress of a claim to completion and payment.
- Improve Data Integrity- Our billing system utilises tables, rules and automated checking to significantly reduce errors arising from manual data entry and ensure efficient payment.
- Regain space – By reducing manual processes and streamlining billing and administrative workflows, PowerRCM will create opportunities to reallocate floorspace for revenue generating activities.
Empowered Decision Making
- Analytics - Our sophisticated analytics solution, will empower your organisation with improved financial visibility and accountability. Identify opportunities, issues and trends to enable better decision making and ensure continuous improvement. Provided by financial, operational and clinical specialists to help you understand your data better and develop actionable insights and predictions from complex data sets.
- Key Operational performance metrics – Our metrics are set to monitor efficiencies of accounts receivables and denial managements. Supports benchmarking with peers against normalised data and provide insights of potential process improvement areas.
Transition and Integration Flexibility
- Future Flexibility – Our PowerRCM offering offers flexibility to suit your organisational needs. PowerRCM can be implemented to augment your existing teams or as a fully managed service. With all options, you will retain control of our world class billing system, PBRC.
- Architecture flexibility – Our calling of external web services and specific gateways enable custom integration. Existing integration frameworks for electronic claiming are leveraged to ensure compatibility with claiming portals around the world.
- Knowledge transfer - Transferring knowledge and building capability, through coaching, and sharing of best practice and tools, is at the heart of what PowerHealth does and our RCM solution to ensure lasting change.
- Regular Health checks – To provide reports that are designed to identify and support our customers with new ways of working and maximise the benefits from using our billing technology, PBRC.