MEDITECH Revenue Cycle
A better patient experience and a healthier bottom line.
Prioritizing your patients' care builds loyalty, trust, and satisfaction. And that equals better cash flow for your healthcare organization. But finding the balance between patient, payer, and staff demands is challenging. MEDITECH's Revenue Cycle can strike the balance you need to unlock your organization's maximum reimbursement potential. With a healthy and thriving Revenue Cycle, you can attract and retain patients by investing in technology, upgrading equipment, and hiring the staff to keep it all humming along. That's the bottom line.
A centralized business office at the heart of healthy profit margins.
Stay financially fit and achieve your revenue goals. End-to-end integration beginning at the first points of patient contact — spanning acute, ambulatory, and long-term-care settings — can minimize lost charges, reduce claim rejections, and improve employee productivity.
A seamless experience for patients
- Provide a single, accurate, and timely billing statement combining ambulatory and acute charges.
- Aid customers with a "one call" environment for billing assistance across all care settings.
- Enable patients to actively participate in their own care through a centralized Patient Portal to book appointments, update demographics, view account balances, and pay bills online.
A unified workflow for staff
- Respond to patient or guarantor questions using accounting support in a central, intuitively designed location — no toggling between care settings.
- Use roles-based, prioritized worklists for maximum efficiency.
- Trim A/R days with centralized and decentralized billing, conflict checks, and denial management.
- View consolidated revenue reports to manage the overall financial health of your organization.
Denial prevention, beginning with first contact.
Get fully reimbursed for the care you provide. Fight costly denials with embedded, front-end denial prevention workflows, a comprehensive appeals process, and the data to monitor trends.
Collect complete and accurate patient and insurance data before services are rendered.
Avoid claim denials. Upon first points of patient contact, verify insurance, receive authorization alerts, and run medical necessity checks.
Pre-screen claims and provide billers with a prioritized, exceptions-based worklist of accounts that could lead to a denial.
Manage and track the appeals process of denials with actionable worklists.
Monitor and analyze denial trends, as well as the success rate of your appeals, with interactive denial management reports.
The lower, the better.
Intuitive workflows with system-wide integration can substantially reduce A/R days to boost your organization's overall fiscal health.
Hilo Medical Center
Hilo Medical Center reduced hospital A/R days by 53 percent using MEDITECH's Revenue Cycle solution. The result? A $10 million hard ROI in the inpatient setting.
Summit Pacific Medical Center
Summit Pacific Medical Center achieved 13 fewer A/R days and an 8 percent increase in daily clinic volumes.
Anderson Regional Health System
Anderson Regional Health System saw a 50 percent reduction in A/R days and reduced lost revenue by 90 percent by overhauling its Revenue Cycle process.
Consolidate your Revenue Cycle under one roof.
See the complete picture of your front, middle, and back office processes to get a more holistic patient story with every claim.
Select an office environment for more details:
Patient Access/Front Office
- Insurance verification
- Patient co-pay collect
- Financial counseling
- Transcription coding
- Case coordination
- Records storage
- Clinical documentation
- Release of information
- Medical records
- Charge capture
- Claims checking and error resolution
- Claims submission
- Payment processing and posting
- Denial management
- A/R follow-up and appeals
- Patient statements
- Contract compliance
Realize big ideas with big data.
Your data is the key. Unlock its power with Revenue Cycle solutions that help you gain insight through data analytics and make the most informed decisions for your organization.
- Use Business and Clinical Analytics (BCA) — a web-based visualization tool — to increase efficiency, measure progress, and improve performance.
- Arm your C-suite with analytics dashboards to drill down into the Revenue Cycle. Or, view combined Revenue Cycle data with clinical and operational insights for a broader perspective.
- Inform your value-based reimbursement strategy with a holistic view of your patient population.
"MEDITECH's integrated workflow tools and Revenue Cycle solutions will help Steward continue its efforts to transform care delivery and maximize operational efficiency across the organization."
CIO, Steward Health Care
"Put data in the hands of your end users and you'll find the right questions you should be asking."
Director of HIT, Kalispell Regional Healthcare
"MEDITECH's Revenue Cycle is very strong. It is a workhorse and aided in our ability to bring down our A/R days and position us better financially."
CFO, Emanate Health