If you’ve ever asked yourself, “Is there an easier way to work?” the answer might be closer than you think. Healthcare executives, particularly those in the back billing offices of hospitals, have long been plagued with the complexities that arise from working hours around the clock for little to no monetary gain. As hospitals and health systems are faced with increased pressures to provide high-quality care while staying in the black, it might be time you reconsider how to take back the most valuable insurance receivables and reduce days in Accounts Receivable (A/R), all while paving the way for better financial health at your organization. Read on to see how our technology partner Vispa can help.
Step #1: Work by Exception
Whether you’re working to expedite cash flow, increase collections or reduce the number of days in A/R, it’s important to ensure your organization’s strategy for revenue cycle management is crystal clear. Many billing teams don’t have the data at their disposal to make strategic decisions about what accounts to work and when to work them, let alone the ability to do this automatically and not waste a manager’s time manually prioritizing work. Unfortunately, this has a direct impact on productivity and success. At Vispa, their SaaS solution is designed to be user-friendly, with a focus on working by exception to increase efficiency–meaning the accounts that need human intervention are prioritized automatically. With the right tools in the toolkit, your team will be ready to execute and increase profitability.
Step #2: Foster Collaboration
Success can’t happen in a vacuum, and the same is true for any kind of change management–everyone has to be all hands on deck! The beauty of Vispa’s technology is that the user interface not only allows for but encourages billing teams to work together. Each user has their own unique roles and functionalities within the software, and managers are notified as soon as hurdles arise for quick troubleshooting. The end result? Not only are the right accounts being worked on at the right time, but even better is that workers receive positive reinforcement to keep going.
Step #3: Monitor Productivity and Analytics
Did you know that one-third of U.S. workers who can work from home now do so all the time? This means that 35% of the U.S. population aged 18 and older are remote employees. While this remote work environment undoubtedly has its perks, it’s important for healthcare billing executives to be able to track their team’s progress. Vispa’s solution does just that with easy-to-read reports and real-time monitoring and analysis. In addition to monitoring your team’s user productivity, there is a treasure trove of claims and remit data at their disposal. This includes anything from denials trending to predictive analytics.
Healthcare billing is a marathon, not a sprint. Some laps are slower than others, but when you work together and cheer on your team, the end result is worth the labor! Whether your organization is large, small, or somewhere in between, financial stability and productivity are in your future when you leverage the capabilities of HealthCareTEC’s technology partner Vispa. Learn more by calling: 941.375.0300.
