Revenue Cycle Management

Speed reimbursement by generating highly accurate bills

Revenue Cycle Management

Kofax solutions for revenue cycle management enable leaders in the healthcare industry to pursue operational excellence by eliminating costly manual processes and handoffs for patient administration and billing. With Kofax, all accounts payable, invoice processing, insurance identification, admission forms, as well as treatments and procedures, can be captured during the First Mile™ of patient interaction. 

It is then automatically transformed into actionable information ready for coding and submission for reimbursement. Information is routed to the right people, processes and backend systems — enabling organizations to become more efficient while significantly reducing costs. By eliminating paper-based information, hospitals can improve productivity, eliminate lost billing opportunities, andKofax solutions for revenue cycle management enable leaders in the healthcare industry to pursue operational excellence by eliminating costly manual processes and handoffs for patient administration and billing. With Kofax, all accounts payable, invoice processing, insurance identification, admission forms, as well as treatments and procedures, can be captured during the First Mile™ of patient interaction. It is then automatically transformed into actionable information ready for coding and submission for reimbursement. Information is routed to the right people, processes and backend systems — enabling organizations to become more efficient while significantly reducing costs. By eliminating paper-based information, hospitals can improve productivity, eliminate lost billing opportunities, and enable better visibility into patient billing, regardless of where it is in the revenue cycle.

Increase the Accuracy of Patient Billing

Kofax solutions for revenue cycle management combine a variety of technologies designed to automate labor-intensive areas of treatment and care documentation, transcription, coding, billing and reconciliation to accelerate revenue cycles. By adopting these cost-effective and time-saving technologies, hospitals can capture billing information in real-time to increase the number of “clean bills” while reducing the number of denied insurance claims.

Facilitate Process Workflow

By efficiently managing the process and allowing billing information to be captured, regardless of where it originates, the hospital can automatically assemble a complete file of billable services. This reduces the amount of time and effort required to manually gather, organize, transcribe and code all of the information associated with a patient’s stay in the hospital or visit to the emergency room.

Scale to Match Census

Additionally, Kofax capabilities allow for scalability to match hospital census peaks and valleys or planned growth without hiring additional staff. It is also instrumental in speeding the Explanation of Benefits (EOB) to improve recognition of revenue.

Automate Patient Admissions And Scheduling

Kofax Patient Admissions solutions allow healthcare providers to improve and accelerate the registration process. By leveraging eForms and other technologies patient information, identification, insurance information and other documents are quickly captured at the point of admission and linked to the EHR and core financial systems. Similarly, our Patient Scheduling solutions deliver an automated process that better collects, organizes and processes the documentation required to orchestrate visit planning for inpatient and outpatient facilities.

Increase Processing Efficiency

Reduce collecting, sorting and manual paper handling by automatically capturing and extracting data to help increase processing efficiency, data accuracy and information availability.

Consolidate Billing Information

Integrate siloes of information to capture billing and financial information—including accounts payable and invoice processing—from anywhere, while integrating with HIS/EHR systems.

Access Information in Real-Time

Provide real-time access to all patient billing information from registration through discharge to enhance efficiency and provide a better patient experience.

Reduce Labor Costs

Speed processing and reduce labor costs by capturing critical data and documents required to validate information for revenue cycle management.

Improve Revenue Generation

Speed reimbursements by creating “clean bills” the first time out while reducing the number of denied insurance claims.

Mitigate Risk and Promote Compliance

Protect patient information and enable HIPAA compliance while providing an audit trails for RAC audits as well as other financial audits that may be required.

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