March 24, 2008 – Beaverton, OR — Provider Advantage NW, Inc., a national provider of automated, integrated real-time revenue cycle solutions, announced today that Prince William Hospital has selected Revenue360 to improve their patient registration process by preventing registration errors before they are entered into their registration system.
This agreement provides Prince William Hospital, a 170- bed facility located in Manassas, VA, with Revenue360 Insurance Code Solution, one of six modules that complete the Revenue360 Solution. Using Automated Intelligent Guidance, Revenue360 Insurance Code Solution proactively and intelligently guides and prompts registrars to capture and sequence the correct insurance information with every registration. Addressing the continuous changes in the insurance arena, with an ever increasing number of new insurance plans and cards with multiple logos and billing address requirements, Revenue360 reduces denied claims and payment delays, improving the hospital’s revenue cycle.
Revenue360, created by Provider Advantage and Cincom Systems, is an intelligent software solution that integrates with a hospital’s patient registration system enabling the collection of accurate patient information at the point of registration. Modules in addition to Insurance Code Solution, include Demographic Validation, Eligibility Verification, Payment Assessment, Medicaid/Charity Assessment, and Pricing Estimator.
“Prince William Hospital has the reputation of being innovative and forward thinking,” said Ted Tomkins, President of Provider Advantage. “It is the type of hospital that continually seeks opportunities to refine its operations and improve the patient experience. We are delighted Prince William selected our Insurance Code Solution module, giving the hospital an opportunity to improve the patient registration process and eliminate registration errors before treatment.”
“We have selected Revenue360 because of its ability to assist in the identification of insurance cards at the click of a mouse, which will result in an increase in registration accuracy and staff productivity,” said Marilyn Evans, Director, Patient Access Services for Prince William Hospital. “The ability to utilize Revenue360 as a training tool to increase staff competency and to easily create new rules without IS intervention are also features that have affected our decision to select Revenue360.”
For more information visit www.revenue360.net
About Provider Advantage
Since 1991, Provider Advantage NW, Inc. has been providing innovative products and services to access real time healthcare data. Provider Advantage develops, markets, installs, and supports electronic data interchange (EDI) technologies that allow organizations to obtain, utilize, and manage insurance data to generate operational efficiencies and improve cash flow.
For more information, contact Provider Advantage NW at 800-203-5465, send an email to info@provideradvantage.com or visit www.provider-advantage.us.
About Cincom
For nearly 40 years, Cincom’s software and services have helped thousands of clients worldwide simplify the management of complex business processes. Cincom specializes in the areas of business where simplification brings the greatest value to managers who want to grow revenue, control costs, minimize risk, and achieve a rapid ROI better than their competitors. Cincom serves thousands of clients on six continents including Antech Diagnostics, Aurora Health Care, BJC Healthcare, Children’s Hospital Boston, Duke University Medical Center, Mayo Foundation, MCG Health Systems, and more.
For more information about Cincom’s products and services, contact Cincom at 800-2CINCOM (USA only), send an e-mail to info@cincom.com, or visit the company’s website at www.cincom.com.
About Prince William Hospital
Prince William Hospital is a private not-for-profit community hospital located at 8700 Sudley Road in Manassas, Virginia. Established in 1964, the 170-bed hospital offers a full range of traditional inpatient and outpatient services, including medical, obstetrical, pediatric, surgical and critical care. It also offers the latest in healthcare technology with MRI and CT scanning, lithotripsy, laser surgery and nuclear medicine. Prince William Hospital is fully accredited by The Joint Commission
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Revenue360® to Enable Hospitals To Collect Payments During Registration Using DIVDAT’s CashLINC™ Point of Service Solution
November 22, 2011 (PRWeb) The time and efficiency savings continue for HealthCare registration managers. Provider Advantage has formed an agreement with DIVDAT that enables Provider Advantage to incorporate DIVDAT’s best of breed e-cashiering function within the Revenue360 software solution. With CashLINC, Revenue360 hospitals will be able to immediately provide discounts and process payments for healthcare procedures prior to the service being performed.
Employer insurance increasingly requires patients to absorb a greater share of financial responsibility for their care. This is happening through larger deductibles, co- insurance, and co-payments and popularity high deductible consumer directed health plans (CDHPs). The Centers for Medicare and Medicaid Services (CMS) reported that between the years 2000 through 2007 patient out of pocket expenses increased by 95%. HFMA reported in a 2009 survey, that 97% of respondent hospitals experienced an increase in self-pay accounts receivable compared with the prior fiscal year. Of these hospitals, 39% have experienced a 10% or greater growth in self-pay balance after insurance.
According to a recent TransUnion Healthcare “pulse poll” released at the Healthcare Financial Management Association’s (HFMA) Annual National Institute (ANI) conference, they found that “of payments that go to the back-end for collections, eight in 10 respondents said less than 60 percent of payments were made.” This means that, if the patient leaves the facility without paying, the chance of collecting plummets. The typical hospital loses millions of dollars by not being able to explain and collect amounts due at the time of service.
More importantly, patients indicate they are more satisfied with their healthcare experience if they know the amounts due when entering the hospital. They prefer being able to arrange a payment plan before the medical event.
Through use of Revenue360, hospital staff are able to accurately identify and collect patient information prior to admission. By asking patients just a few questions, with Revenue360 intelligent guidance functionality, the hospital staff is able to determine the amount due from the patient that is not covered by insurance. With the integration of CashLINC into Revenue360, hospitals are now able to offer payment options to the patient without any additional data entry. Options might include discounts for immediate payment using a credit card or e-check or a payment plan tailored to the patient’s financial need.
“CashLINC has tremendous value to Revenue360 hospital pre-admission users as a way to quickly and accurately provide payment options to their patients, said Edward L (Ted) Tomkins, President of Provider Advantage NW, Inc. We believe the seamless integration of CashLINC within Revenue360 will substantially increase collections and speed the hospital’s revenue cycle.”
“The hospital information system integration and estimation technology available through Revenue360 is a powerful tool,” says Jason Bierkle, President of Diversified Data & Communications, Inc. “We believe the integration of DIVDAT’s point of service technology will substantially increase the amount collected prior to admission. This will decrease the hospital’s capital needs and enable hospitals to provide more cost effective service to their patients.”
About Provider Advantage: Since 1991, Provider Advantage NW, Inc. has been providing innovative products and services to access real time healthcare data. Provider Advantage develops, markets, installs, and supports electronic data interchange (EDI) technologies that allow organizations to obtain, utilize, and manage patient financial data to generate operational efficiencies and improve cash flow. Conforming to the needs of each customer, Provider Advantage’s products and services enable organizations to optimize revenue by establishing payment responsibility for healthcare services. For more information, contact Provider Advantage NW at (800) 203-5465 or visit www.provider-advantage.com or www.revenue360.net.