ALPHARETTA, Ga.--(EON: Enhanced Online News)--McKesson’s RelayHealth Financial has teamed with Emergency Recovery Inc. (ERI), a leading provider of third-party liability recovery services for hospitals and physicians, to provide revenue recovery services. The ERI service assists hospitals and health systems with identifying funds that are underpaid or deemed unrecoverable and helps them to collect without up-front fees or patient contact, helping to preserve positive patient relationships.
“There are a lot of ways to go after unpaid claims, many of which are distasteful to hospitals because they involve too much risk”
“There are a lot of ways to go after unpaid claims, many of which are distasteful to hospitals because they involve too much risk,” said Marcy Tatsch, vice president and general manager, Reimbursement Solutions, RelayHealth Financial. “After talking with our customers, we knew they needed an offering that posed no risk to the patient relationship or the bottom line. That’s why we recommend ERI as their partner. ERI’s approach allows our customers to leave the complexities of patient receivables in the hands of experts who have helped providers collectively recover hundreds of millions of dollars and deal directly with the insurance company.”
The revenue recovery service helps providers to:
- Improve revenue health and accelerate cash collection–The service identifies potential revenue leakage, engages insurance companies directly to recover funds, and issues payment to providers with no up-front fees.
- Analyze claims using an extensive database network–Providers need only to supply a file of claims and zero-balance accounts, which is retrospectively analyzed for recovery opportunities.
- Generate intelligent pre- and post-recovery reporting–Reporting and analytics are delivered to customers via a dashboard, which can be used to manage and monitor the recovery process in real time.
In healthcare, certain types of claims have a higher incidence of being incorrectly filed with a patient’s health insurance, such as motor vehicle accident claims. Such claims represent a significant source of unclaimed funds for hospitals. Using claims data from a network of public and proprietary databases, the ERI service retrospectively reviews patient accounts to identify claims that are uncollectable, underpaid, or in self-pay status. Recoverable revenue is turned over to the provider organization, which pays a flat percentage fee based on funds collected.
The ERI recovery service is available immediately. To learn more, contact a RelayHealth Financial Solution Advisor at 800-752-4143.
Every day across America, more than 2,400 hospitals and health systems rely on RelayHealth Financial to help them process over 3.3 billion transactions worth $1.8 trillion annually. RelayHealth Financial’s broad array of revenue cycle management solutions uses the power of the cloud and big data to help healthcare professionals make better financial decisions for their organizations and patients, right at the point of care. Nobody does more than RelayHealth Financial to bring healthcare connections to life. For more information, visit relayhealthfinancial.com.
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McKesson Corporation, currently ranked 5th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We partner with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management, healthcare information technology, and business and clinical services. For more information, visit us at www.mckesson.com.
Tags: McKesson, McKesson Health Solutions, RelayHealth, RelayHealth Financial, Revenue Cycle, Revenue Cycle Management, Claims Management, Revenue Recovery, Emergency Recovery Inc., Reimbursement