Coronis Health, Hospital & Surgery Center
Revenue Cycle Management
U.S. hospitals and physician groups today face numerous obstacles in their efforts to control operating costs while providing high-quality care to the patient populations they serve.
Unfortunately, many healthcare providers do not have access to the expertise necessary to maximize the RCM process.
Extended Business Office (EBO) Solutions
As the health insurance marketplace becomes increasingly complex with customized benefit plans, higher patient out-of-pocket costs, and complex authorization requirements, hospitals must adopt new skillsets and practices to keep pace. In today’s healthcare environment, a nimble and lean cost structure is a crucial asset.
Utilizing Coronis Health’s Extended Business Office (EBO) solutions, hospitals can achieve significant Revenue Cycle Management (RCM) improvements and efficiencies. These include items such as: fewer denials, lower AR days, increased collections, increased cash on hand, reduced patient and payer collection costs, and lower overall administrative costs.
Coronis Health’s Extended Solutions Give You the Advantage
Whether it’s collections, billing, denial management, or pre-registration authorization, our experienced group of collectors, billers, and healthcare professionals are ready to work with you as an extension of your current business environment. Attaining RCM improvements on your own can be a slow process. Over-worked and under-trained staff often times result in lower overall collection rates and shrinking margins.
Hospitals that have a forward-thinking approach to today’s RCM challenges give themselves a competitive advantage. The extended solutions from Coronis allow hospitals to achieve that competitive advantage swiftly.
Coronis becomes an extension of your business office in critical RCM events. This ultimately results in increased cash and a reduction in administrative costs.
Extended Business Office Solutions Include:
- Charge Entry
- AR Follow-Up
- Payment Posting
- Denial Management
- Credit Balance Accounts
- Early Out
- Patient Collection / Self pay
- Bad Debt
Coronis provides flexible hospital AR services to meet the needs of your hospital. Whether it’s legacy AR work or ongoing support, Coronis has a solution to meet your needs.
When a hospital changes patient accounting systems, they are faced with the dilemma of what to do with legacy AR. Most do not have the resources internally to work down the legacy AR while keeping up with claims on the new system.
Many hospitals choose to move all or a portion of their AR to a revenue cycle partner. This frees up internal staff to focus on other revenue cycle functions.
How We Help
Partnering with an experienced RCM vendor on an ongoing basis helps mitigate the risk of cash flow challenges.
Staffing can be incredibly challenging given the competitive job market for experienced coders and billers. Having a partner to share the coding and AR responsibility ensures zero downtime when you have attrition. It’s imperative to start a partnership early and not wait until you need someone. The result will be a seamless revenue cycle and consistent cash flow.
AR and Coding backlogs can cause your revenue cycle operations to come to a halt. Your hospital risks losing revenue the longer AR sits. Coding backlogs impacts cash flow and disrupts workflow further down the revenue cycle. Partnering with an experienced revenue cycle company to eliminate these situations is key for your hospital’s health.
If you struggle to find talented billers and coders or do not have the bandwidth internally to take on these functions, outsourcing could be the answer. When outsourcing revenue cycle, you eliminate the headache and often improve cash flow. Most importantly, hospitals often save valuable budget dollars by outsourcing these functions.
Why Coronis Health?
Healthcare providers have many choices when it comes to revenue cycle partners. Why Coronis? It’s simple. Our global capability, industry thought-leadership, and deep specialty expertise, combined with pure performance and full transparency. Above all else, Coronis Health keeps you at the center of our business. We strive every day to make our client’s lives easier by eliminating the headaches of revenue cycle, increasing collections, and lowering risk. Coronis is proud of the strong relationships we’ve built with our clients. When clients call, Coronis answers.