Days in Accounts Receivable to Zero? Via makes it possible.
Revenue cycle management (RCM) is the process of tracking the financial aspects of patient care from start to finish. This covers the entire time frame that begins with the patient making an appointment, through the collection or final payment of their financial obligation.
The use of electronic RCM systems in healthcare facilities and private practices has gained momentum over the last decade and has finally neared the tipping point. Because digitally-enabled RCM has become so common, it’s no surprise that practice owners are now looking for additional ways to get the most out of them, especially as it relates to claims processing and payment. After all, maximizing an RCM’s capabilities can be the key to many healthcare organizations’ viability in an environment subject to often overwhelming operating constraints.
Speeding up the cycle.
One of the most effective ways to supercharge an electronic RCM is to integrate with a system like Via, which allows providers to be paid immediately when processing claims. With insurance payers and government programs like Medicare and Medicaid taking up to a month to process and pay providers, it’s inevitable that revenue gaps will occur, which can wreak havoc on every aspect of a practice, from payroll to facilities operations. Via takes the uncertainty out of revenue cycle management by giving providers access to an automated payment advance program, which allows funds to be received the same day claims are submitted.
Those who choose to integrate Via into their RCM enjoy the flexibility and financial security it can give them, with the knowledge that they may use it as much or as little as needed. While some providers choose to process all of their claims through Via, others reserve it for specific circumstances, such as very large claims, or for claims attached to patients from whom it has been difficult to collect in the past.
DAR to zero? Via makes it possible.
Clinicians, office managers and practice owners around the country rely on Via to keep their healthcare-related businesses running smoothly with minimal disruption. With simple integration available for a variety of popular RCMs, including Athena Health, Kareo and Greenway Health, it’s easy to see why Via is quickly becoming the first and best choice for enabling a practice’s financial success.
The benefits of Via can be seen almost immediately; in fact, Via even helps many providers quickly reduce their days outstanding to zero. Want to learn more about how your practice may benefit from taking control of your cash flow with immediate claims payment? Simply contact Aquina Health today.