CareMedic Launches Patient Access Management Solution in Collaboration with Cleveland Clinic

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--CareMedic Systems, Inc., a leader in proactive financial management for hospitals and providers, today announced it has launched the Patient Access Management solution to help healthcare organizations realize the positive benefits of a front-end-focused revenue cycle operation.

The solution extends existing CareMedic solutions with new Registration Guidance processes, ensuring that all information (demographics, medical necessity, insurance, co-pays, deductibles, and payments) is captured and verified during the patient intake process with precise accuracy, producing greater clean claim rates, resulting in fewer denials or payment delays. It also incorporates a new financial clearance software solution developed by the Cleveland Clinic to further address the challenges associated with self pay, charity care, and consumer healthcare impact.

Patient Access Management enables a patient-centric, rules- and data-driven registration process, along with improved workflow processes. By orchestrating all front-end activities to create a “get it right from the start” operation, the solution coordinates all the disparate information gathering, validation and verification functions into a common standardized process, designed to improve cash flow, productivity, patient satisfaction and quality.

“As leaders in healthcare revenue cycle, we’ve designed our Patient Access Management solution to address the fundamental fact that the vast majority of data needed for effective billing is captured at or before patient registration, yet 30 percent of the time there are errors in the collection of the data, which later cause billing delays and downstream issues,” said Sheila Schweitzer, CareMedic’s chairperson and chief executive officer. “At the same time, high-deductible health plans, health savings accounts and the proliferation of the under- and uninsured have caused a surge in patients’ out-of-pocket expenses, which has only exacerbated collection challenges. More than ever, we see market demand for a single comprehensive solution that supports registration staff and is efficient and effective in handling the front-end process flow to provide a clear and actionable view of a patient’s financial profile. It’s truly become essential to the financial health of the organization.”

CareMedic’s Patient Access Management solution delivers a rules-based workflow to create one seamless operation to help front-office staff effectively manage all pre-service processes. The platform supplements the limited functionality found in most registration systems to ensure more accurate data collection through real-time guided registration and post-registration audits and workflow. Additional functionality automates eligibility verification, demographic validation and medical necessity checking, and links the relevant images such as insurance cards and identification.

In addition, the inclusion of Cleveland Clinic’s Financial Admissions Clearance Tracking Software (FACTS) directly addresses the bad debt risk associated with uncompensated care by enhancing pre-admission workflow and accuracy in managing patients. Featuring integrated patient information with proprietary rules engine technology, the solution guides registrars and financial counselor interactions with insured and uninsured patients to aid in determining payment responsibilities, capacity to pay, and verification of alternate payment options prior to service. In addition, embedded reporting enables hospital administration to review financial counselor productivity to further optimize the patient financial assistance process. Under terms of the agreement, CareMedic will exclusively offer FACTS as an integral part of the company’s new Patient Access Management solution set.

All of the Patient Access Management functions are integrated with the back-end workflow and include a view of the patient’s history so that the financial profile is accurately represented at the point of service. Productivity, quality, and outcomes measures are visible through a business intelligence dashboard and reporting tool.

By leveraging the company’s powerful eFR foundation, Patient Access Management helps to complete CareMedic’s comprehensive revenue cycle coverage from pre-service through billing, payment, and post-payment activities, putting providers on the path to optimizing the revenue cycle and “getting paid.”

About CareMedic Systems, Inc.

Founded in 1996, CareMedic focuses exclusively on helping hospitals improve their financial results. Combining configurable technology with technology-enabled services, CareMedic’s eFR® Network tackles the most complex revenue cycle issues, reducing or eliminating manual tasks. The company’s fully integrated data management, dashboard reporting and workflow tools ultimately help customers recover more cash while reducing operational expenses. CareMedic is committed to consistently delivering results to its customers. For additional information, visit www.caremedic.com.