ALPHARETTA, Ga.--(BUSINESS WIRE)--The days of providers puzzling over a mysterious EDI 277 claim status response are behind us. That’s because RelayHealth Financial has introduced RelayAssurance™ Status Amplifier, a new software service that automatically tracks down, inspects, and reports accurate reasons for non-payment on claims. Now providers can quickly learn and act on detailed claim statuses, without having to manually struggle through payer portal after payer portal, claim by claim, day after day. The result: Faster insights and reactions when dealing with pended and denied claims, which helps solve denials and speed payment.
Healthcare providers, physician practices, and practice/billing management vendors are all too familiar with the usual process. After a claim is submitted, they must wait until receiving the first remittance to learn when something is wrong. This takes from 17 to 30 days on average. They receive a simple electronic data interchange (EDI) notification when there’s new information about a claim. But there’s no additional detail telling them what happened or what action, if any, is required. Thus begins a series of phone calls and exhaustive payer portal searches in an attempt to glean the claim’s true status and take action.
RelayAssurance Status Amplifier puts an end to that manual process by transforming it with on-demand automated access to detailed claim status, helping providers save time and effort, speed time to payment, and boost follow-up productivity. One hospital realized a 51% increase in net revenue per full-time employee, and achieved this despite using fewer employees for claim follow-up and experiencing a 34% increase in volume.
“All too often, healthcare providers and practice management vendors operate inside a ‘black box’ when it comes to claims status,” said Marcy Tatsch, vice president and general manager of RelayHealth Financial Reimbursement Solutions. “How can they resolve claim issues quickly and get paid if they can’t access detailed status information as soon as it’s available? RelayAssurance Status Amplifier cuts to the chase, letting them know when to take action, and reducing the tedious and costly follow-up tasks that drain resources and delay reimbursement.”
RelayAssurance’s Status Amplifier provides fast, thorough, and actionable claim status information from hundreds of payer portals, and also gives providers:
Flexible claim inquiries
Gathers relevant, supplemental status information for batch or single claims from payer portals and returns information in standard, easy-to-read format.
Rapid status access
Detailed status information is available within a day of submission, allowing providers to address problem claims and decrease the time to payment. Forecasted payment information–available within days–can be used to initiate secondary billing sooner.
Automated inquiry processes
Eliminates the need for staff to call (and sit on hold) or conduct time-intensive searches of payer portals.
Reduced remittance times
Rapid access to more complete information helps shorten the remittance cycle by more than a couple of weeks.
RelayAssurance Status Amplifier is available now as a standalone SaaS solution or integrated with RelayAssurance Plus claims and remittance management solution. The batch and single-claim inquiry process can be automated, with users setting schedules to periodically hit specific payer portals for batch or individual claims, and accessing the detailed status directly in the RelayAssurance Plus dashboard.
For more information on RelayHealth Financial’s revenue cycle management solutions, visit our website, learn from our experts at the RelayHealth blog, or follow us on Twitter at @RelayHealth. For more information on McKesson Health Solutions, please visit our website, hear from our experts at MHSdialogue, follow us on Twitter, Like us on Facebook, or network with us on LinkedIn.
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About RelayHealth Financial
Every day across America, more than 2,400 hospitals and health systems rely on RelayHealth to help them process over 3.3 billion transactions worth $1.8 trillion annually. Our broad array of revenue cycle management solutions use the power of the cloud and big data to help healthcare professionals make better financial decisions for their organizations and patients, right at the point of care. Nobody does more than RelayHealth to bring healthcare connections to life. For more information, visit relayhealthfinancial.com.
McKesson Corporation, currently ranked 11th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit us at www.mckesson.com.
Tags: McKesson, McKesson Health Solutions, RelayHealth, RelayHealth Financial, Revenue Cycle, Revenue Cycle Management, Claims, Reimbursement, Claims Status, Status Amplifier, RelayAssurance