Are you getting all YOUR money?
Feature Summary
» Includes set up and maintenance of all payment rules -- regardless of complexity
» Includes APC grouper and code bundling logic
Online Contract Library for quick reference to payment terms
» Detailed, easy to read, explanation of payment calculation
» Automatic resolution of deductible and copay amounts eliminate "false variances"
» Notes and memos record all collection activity
» Follow-up tickler date records promises of payment
» Automated Follow-up Tool lists accounts whose collection date has expired
» Automatic assignment of recovery status tracks exactly how much money has been collected
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The Dilemma:
As contract terms and payment mechanisms have become more complex, underpayments are more commonplace, and providers lose much-needed cash. So much, in fact, that some studies suggest hospitals are losing up to 15% of their income due to these incorrect payments. Even for a provider with less than 20% managed care business, this can amount to millions of dollars each year. These underpayments result from faulty adjudication (i.e., human error, computer error) as well as from payer-determined denials, and they directly contribute to declining bottom lines and the erosion of operating cash. Unfortunately, without an automated contract management system, underpayments often go undetected as the routine practice of writing off the difference between covered charge and remitted payment to contractual allowance effectively masks the problem.
The Solution:
Install an automated contract management system. However, anyone with experience with these types of products knows there is a lot more to recovering underpayments than simply creating a list of underpaid claims. And that's what sets Harvest® apart from the rest of the crowd by providing you with not only all the necessary tools but also a proven, practical approach that really works. For example, we take the responsibility to set up and maintain all the contract rules, even the most complex mechanisms and fee schedules. The hospital staff then devotes their energy to recovering money. From a detailed explanation of how payments should have been calculated to an automated claim tracking system, Harvest gives you what you need -- RESULTS you can take to the bank.
Return on Investment:
The proof is in the numbers. Many of our clients have recovered hundreds of thousands, even millions of dollars per year using the payment variance tools in Harvest. As one CFO stated, "When I look at the money we have recovered, buying Harvest was the easiest decision I ever made. It surprises me to learn that many hospitals do not have systems in place that really work for them."
Harvest works for all types and sizes of hospitals, from small community hospitals to large, academic facilities.
