Revenue Management Software is suited for transplant centers.August 22, 2006 -
Oracle-based PayerSoft-Transplant program automates critical areas of transplant revenue management, including patient eligibility tracking; payer, physician and patient financial processes; and reporting. Coordinators can track information at evaluation, pre-transplant, transplant, and post transplant phases, and can forecast payables and receivables by setting up contract details. Software also provides benefit plan management, provider credentialing, and ad hoc reporting.
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Original Press release
Physmark, Inc.
13140 Coit Rd.
Dallas, TX, 75240
USA
Physmark Announces PayerSoft-Transplant
System Lowers Operating Costs, Saves Staff Resources at Transplant Centers
DALLAS, July 26 - Physmark has announced PayerSoft-Transplant, an Oracle-based revenue management program specifically designed for transplant centers. PayerSoft-Transplant automates several critical areas of complex transplant revenue management, including patient eligibility tracking; payer, physician and patient financial processes; and reporting. By handling the revenue management process efficiently, transplant centers are able to lower operating costs and increase staff productivity. The system is available immediately.
"Transplant billing is extremely complex. It involves coordinating various financial processes and reconciling revenue through multiple phases," said Dr. Jacob Kuriyan, president of Physmark. "By streamlining the transplant billing process, PayerSoft-Transplant improves collections and cash flow."
Kuriyan noted that most transplant organizations use cumbersome manual procedures. "If you are doing billing manually, it is impossible to know if and when a case is going over budget until it is too late to take corrective action. PayerSoft-Transplant produces timely reports that identify which transplant types are unprofitable and which cases need more scrutiny."
PayerSoft-Transplant allows transplant coordinators to easily track information at each phase of the transplant process, including evaluation, pre-transplant, transplant and post transplant. By setting up provider and payer contract details, coordinators are able to produce accurate forecasts of payables and receivables. PayerSoft-Transplant also provides senior managers with customized reports showing profit and loss trends. It also gives patients and providers online access to eligibility, benefits and claims status.
Because it is easy to use and install, PayerSoft-Transplant requires minimal IT support.
"It used to take my staff over 40 hours a month to prepare financial reports that identify discrepancies in transplant cases," said Timothy Burroughs, Chief Financial Officer at Medical City Hospital in Dallas. "PayerSoft-Transplant reduced the amount of time spent on this task, saving valuable staff time in the process. Just as important, with a click of the mouse my financial coordination staff and I can 'drill down' to get to the bottom of the problem cases. Now my staff has more time to focus on patient care."
PayerSoft-Transplant handles all of major transplant billing functions, including:
o Membership/Eligibility Verification
o Benefit Plan Management
o Provider Credentialing
o Provider and Payer Contract Management by Phases/Cases
o Case Management, Pre-Authorization and Tracking Phases/Zones for each
Case
o Claim Adjudication by Phase
o Automated Invoice Generation to Payers Triggered at the End of Each
Phase.
o Full HIPAA-Compliance with EDI to Hospital Systems
o Customer Services Management for Members and Providers
o Financial Analysis with P&L Reporting by Case and Phase
o Ad Hoc Reporting
Physmark, Inc. is a leading provider of cost-effective, flexible systems and services for health plans, self-insured employers, TPAs (Third Party Administrators) and ASO (Administrative Services Only) organizations. Its mission is to rein in healthcare costs by offering fairly priced systems that make the business of healthcare more efficient and streamlined. Its systems consistently deliver positive ROI and work with existing IT infrastructure.
Physmark software runs on more than 85 different hardware platforms and operating environments, including Microsoft's Windows and NT and many versions of UNIX. Enterprise and power users of prefer Sun Microsystems' multiprocessing computers and its Solaris version of UNIX.
Physmark's corporate headquarters are in Dallas; additional offices are located in Los Angeles, Albuquerque and Denver. For more information, call (800) 922-7060 or visit Physmark's website at http://www.physmark.com/.
Source: Physmark, Inc.
CONTACT: Jacob Kuriyan of Physmark, +1-505-897-7500
Web site: http://www.physmark.com/
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