Optimise financial performance and transform business services with the industry’s only end-to-end revenue cycle management solution.
The Problem: Inefficient RCM Systems and Processes Impede Revenue
Managing revenue and ensuring full and timely payment for services is often a challenge for healthcare organisations. Many are hampered by disjointed revenue collection systems and practices – silos of independent platforms with distinct interfaces. These fragmented environments are inherently costly, complex, and inefficient. Pricing information, coding data, payer rules, and other data is often maintained in multiple systems, opening the door for inconsistencies, inaccuracies, and mishaps. Coding errors, missing charges, denied claims, and billing mistakes can lead to payment delays and patient frustration, and impact the bottom line.
The Solution: InterSystems Unifies Operations and Improves Cash Flow
InterSystems TrakCare® Revenue Cycle Management (RCM) is specifically designed to eliminate the fundamental limitations of traditional siloed healthcare accounting systems and practices. The InterSystems solution unifies revenue management across the entire patient journey, from registration to coding to billing to payment, for both inpatient and outpatient services, providing a single-source-of-truth for all data and a consistent user experience for all workflows. The solution helps you avoid integration hassles, eliminate manually intensive and error-prone processes, accelerate revenue collection, and improve patient satisfaction.
TrakCare RCM is field proven in complex, large-scale deployments. From patient billing to full revenue cycle management, TrakCare RCM drives revenue for over a hundred entities around the world, including private organisations in Europe, Asia, Australia, New Zealand, and the Middle East. Better still, the solution is delivered and supported by InterSystems – a well-established and financially stable company you can count on.
Key Benefits
Easy Integrations, Streamlined Deployment
TrakCare RCM helps you break down interoperability barriers and accelerate time-to-value. The solution easily integrates with a wide range of third-party financial systems and government hubs like the Dubai Health Post Office in the UAE, Shafafiya in the Northern Emirates, and ECLIPSE in Australia. InterSystems routinely issues software updates to help you keep pace with regulatory changes.
Key Features
Authorisation
- Patient registration
- Payor verification and policy coverage for encounter and procedures
- Payor plans, contracts, and payment agreements
Billing & Revenue Tracking
- Billing and claims processing
- Cashiers workbench
- Invoicing, deposits, refunds, and receipting
- Debtor management
- Single source-of-truth for all billing, coding, and payment data
- Unified management for private entity, government entity, and patient payments
- Holistic data insights and reports for financial and business analysts
- Improve staff productivity and department efficiency
- Free up resources to focus on more strategic tasks
- Ensure a consistent user experience for all operations
- Consolidate product support, training, and supplier interactions
- Automate workflows and eliminate manual processes
- Avoid coding inaccuracies, missed charges, and DRG underpayments
- Decrease claim denials and accelerate reimbursements
- Reduce A/R days and get paid faster
- Support diverse coding approaches, claims processes, and reimbursement models
- Keep pace with rapidly evolving regulatory requirements
- Address unique local or regional requirements
- Gather actionable insights and identify trends
- Monitor KPIs and uncover revenue leakage
- Make data-driven business decisions
- Provide patients with accurate cost and benefit information
- Avoid surprise bills, errors, and patient frustration
- Improve patient satisfaction, loyalty, and retention
Next Steps
TrakCare Revenue Cycle Management is available as a traditional software solution for on-premises or public cloud deployment, or as a SaaS solution for ultimate simplicity.
To learn how TrakCare RCM can help your organisation accelerate revenues and boost productivity, please visit InterSystems.com/TrakCare