The Health Care revenue and payment cycle consists of all the processes and efforts that providers undertake to ensure they are compensated properly by payers and patients for the medical services rendered to patients. For payers, the payment cycle includes all the processes necessary to facilitate provider compensation and use of medical services by members. These processes begin with the collection of relevant eligibility, financial and demographic information about the patient and co-pay amounts before care is provided and end with the collection of payment from payers and patients.
Horizontech helps Providers and Payers simplify business processes and reduce costs. Eliminating paperwork and automating your most time-consuming and error-prone processes makes you more efficient and reduces cost. There are many opportunities in the Patient Revenue Cycle for improvements, considering the opportunity for capturing, integrating and using data.
When processes are executed correctly, the cycle performs predictably. However, problems early in the cycle can have significant downstream effects. The further an error travels through the revenue cycle, the more costly revenue recovery becomes.
HTI can help you integrate, automate and reduce across your enterprise.