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The
HWC Receivables ServiceWare is unlike any other
healthcare claims management software available today.
That is because its reports provide information needed
by both the Patient Accounting Department and the
Finance/Accounting Department. In other words, the
Receivables ServiceWare not only facilitates cash
collections, but it helps to estimate the net realizable
value of a hospital's Receivables trial balance.
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Most
hospital billing systems have been designed to "prepare a
patient claim form" and track the value of outstanding
receivables. However, any pricing methodologies other than a
simple per diem or per case rate typically cannot be accurately
priced, unless a more expensive contract management system is
purchased. Receivables ServiceWare is different, because it is
not a billing system. It is a tool to be used by the patient
accounting staff to help them do a better job of billing and
collecting.
Improve
Efficiency & Results
Since
the Receivables ServiceWare was designed by professionals
directly responsible for receivables management, it has many
capabilities that are simply not available anywhere else. Some
of these features include:
The ability to track a patient (or group of patients)
to determine "subsequent activity." For example,
postings of charges, allowances, and receipts after a trial
balance cut-off date. Healthcare Finance and the auditors love
this one.
The ability to track monthly allowance postings back
to the patient's date of service. This way, allowances can be
segregated between current and prior periods, to quantify
"change in estimates" impacting the current year.
And yes, this ServiceWare has the ability to perform
sophisticated claim repricing, using a very flexible pricer
engine, which is a standard part of the Receivables ServiceWare.
HWC's "Pricer"
Facilitates Receivables Valuation
HWC's "Pricer" functions
as a "contract manager," ensuring that every nuance of
your managed care contracts and regulatory rate structure are
considered when calculating revenue entitlements.
The process of billing for
healthcare services can also be complicated by the fact that
patient information (e.g. coverage) can change after the initial
claim is prepared. Recognizing the dynamic nature of these
changes, the Pricer can retroactively calculate hospital
revenue entitlements on a patient-by-patient basis. This feature
enables the software to estimate the net realizable value of a
hospital's accounts receivable asset.
The Pricer is particularly
effective in checking to make sure allowances have been properly
calculated so that scarce Business Office resources are not
wasted trying to "collect the uncollectable." And it
can also be used to analyze credit balances resulting from
improperly calculated allowances—often creating a favorable
impact on hospital income.
Another extremely useful feature
of the Pricer is its ability to produce a "claim
calculation worksheet" on a patient level basis. This
detailed schedule eliminates the guesswork when reconciling
receipts to expected payments. It also serves as a useful
"teaching aid" for training business office personnel,
or responding to questions from auditors.
Easy
Implementation. Simplified Access.
Once you make the decision to
invest in Receivable ServiceWare, you will want to implement it
right away. We can have you up in running in as little as 30
days.
And, implementation is easy. HWC
has standardized the front-end load procedures for most of the
major IT vendors—this minimizes the impact on your IT staff.
Once the data is loaded, it is
available for your use over the Internet using the HWC ASP.
This cutting-edge web-based technology allows access to your
data from anywhere in the world on any PC workstation or laptop
through a secure Internet connection,
addressing HIPAA privacy
requirements.
Making the move to
Receivables ServiceWare is easy.
You can be up and running with
Receivable ServiceWare in as little as one month. As HWC
ServiceWare modules require little or no capital outlay or
expensive licensing fees, entry costs are reasonable.
To order the Receivable
ServiceWare for your hospital, please contact us at 1-888-HWCSOFT
(1-888-492-7638), or for email us at solutions@hwcsoft.com. |
