Pricing and invoicing to your client’s requirements are important to achieve customer satisfaction. The TELCOR Revenue Cycle Management solution was designed with the flexibility for you to keep and add clients to your billing practices, while also providing the tools to make this easy to manage. Workqueues make the daily work associated with client billing easy. Need to change responsibility of a transaction and reprocess quickly and easily? No problem. Need to apply attention levels to keep staff informed of any special practices for a client? No problem. Need to provide special pricing or contract limits? No problem. Additionally, statistics and metrics allow you to know how much each client contributes to your business, as well as their individual payment history and how much extra work they may be creating by the number of errors that your organization has to correct. If you are expending a lot of effort to client bill, this is the Revenue Cycle Management solution for you.
Contract Management
The TELCOR application includes extensive functionality to customize pricing and manage the contract process required to support client billing. Master client-to-client relationships make it easy to support client organizations with multiple locations. Significant client pricing options are available and include unlimited fee schedules, discounting with rounding rules, special pricing, capitated contracts, contracts that limit dollars that can be billed, discounting tiers based upon amounts billed, quantity-based discounting and more. Multiple contracts can concurrently be in effect, and, with the use of effective date ranges, a complete contract history of each client is maintained. Prior to publishing a price schedule for a client, management can model profitability determine if the pricing schedule offered meets the organization’s goals. Also to aid in contract management, the client price schedule option allows inquiries to all client contracts that are going to expire within a defined time frame, to ensure the laboratory is not performing service under an expired contract.
Client Invoicing
The Revenue Cycle Management solution includes many rules that define how client transactions are processed to ensure the client is only billed for what is eligible. Rules for client bill eligibility, nursing home bed type, which procedures can be client billed and more ensure each client is only billed for expected services. Per client, you can also define if daily or weekly notifications of charges will be provided so the client can perform their own patient billing in a timely manner. Monthly client invoices present all charges, credits, adjustments, payments and, if necessary, even sales tax. Invoice format, content, sorting and messages can be customized by client, as well as how their notifications and invoices will be distributed (e.g., fax, secure encrypted email, paper or even HL7 charge transactions).
Client Billing
The billing solution offers review and edits of all unbilled charges online to ensure accuracy with functions to review client history, change responsibility, edit client assignment, change pricing and more. This review can occur during the month as charges are posted. The organization has the option to hold any specific charges in question or can even hold an entire invoice until an investigation is complete. Notifications and invoices are automatically generated according to the user-defined schedule but can be generated on-demand when needed. Remittance functions allow client payment entry and posting.
Client AR Management
Each client’s complete charge, payment and adjustment history is easy to access for client services and sales representatives. Client Inquiry not allows for review, but access to each invoice and collection notice for reprinting. Client Management provides a complete aging view for all clients with the ability to edit, enter notes, generate collection notices or even transfer to bad debt.
Client Metrics
Client metrics are included with each transaction processed by the application, even if not client billed. This allows a complete picture of how each client impacts your business. Revenue, expected reimbursement, utilization, errors, profitability, payments and more can be determined for each client your organization services. See Business Management and Analytics for more.