Hospitals often struggle with covering the entire back-end of RCM efficiently and cost-effectively. Assigning the work to internal staff can sideline needed resources that could be allocated to patient care. Outsourcing those tasks to more than one vendor can be inefficient and hinder communications.
In order to deliver an efficient, cost-effective strategy that provides superior financial results, Meduit has launched a new solution – MedComplete. MedComplete is a full revenue cycle offering that provides highly trained staff, proven processes and innovative proprietary technology from initial billing through final account resolution, covering all business office functions.
MedComplete Is Customizable
MedComplete is customizable to meet hospital needs that will fix specific holes or repair a hospital’s entire revenue cycle. MedComplete increases operational efficiencies and financial results, by putting the back-end revenue cycle under one roof and alleviating the administrative burdens of hospital RCM leaders with a one-stop-shop solution.
How MedComplete Works
MedComplete works in four steps:
- Step 1 – Conducting a comprehensive analysis of the revenue cycle to uncover opportunities from initial billing all the way through final account resolution while quantifying improvement
- Step 2 – Developing a customized plan that increases revenue, minimizes costs, optimizes the return on investment (ROI), and accelerates cash flow
- Step 3 – Implementing the plan across all RCM touch points, including staff training, process improvement, innovative technology and best practice standards published by the Healthcare Financial Management Association (HFMA)
- Step 4 – Providing full transparency with access to real-time data for accurate insights into claims, payments, invoices and more, as well as clear tracking and reporting on key performance indicators (KPIs) and service level agreements (SLAs)