ClinicSpectrum Hybrid Workflow Model Helps Billing Companies Reduce Costs up to 30 Percent
With ICD-10 deadline looming, ClinicSpectrum to attend HBMA with profitable solutions for billing companies
UNION, N.J., April 03, 2014 (HBMA Booth #201) – ClinicSpectrum, healthcare services leaders providing hybrid workflow solutions consisting of both an innovative software suite and back-office operations, are announcing their solutions for enabling billing companies to maximize profitability as the ICD-10 transition deadline takes effect on October 1. ClinicSpectrum will showcase their automated billing and credentialing solutions at the Healthcare Billing and Management Association(HBMA) Spring Educational Executive Symposium, April 7th – April 9th, 2014 in Naples, Fla.
“As a result of the ICD-10 conversion, providers will have increased denials and cash flow issues, while billing companies will subsequently also suffer from these problems as an extension of their work for providers,” said Vishal Gandhi, chief executive officer, ClinicSpectrum. “The hybrid workflow solutions available exclusively from ClinicSpectrum provide a team of back-office experts who will come in prepared to ‘save the day’ and resolve denials issues and cash flow problems.”
ClinicSpectrum’s knowledgeable administrative team and technology solutions are proven to reduce operational costs—up to 30 percent—and create a Collaborative Accountable Care model for billing companies, according to Gandhi.
Next step: Automation
Available technology in today’s healthcare space adds to the burden of billing companies because most solutions are not easy to use. ClinicSpectrum’s automated solutions solve such problems.
ClinicSpectrum’s back office team and automated solutions can together streamline claims entry, payment posting, accounts receivable follow up, denials management and credentialing, as well as data migration, custom interface and dashboard reporting.
Technology platforms for efficiency, uniformity and connectivity enabling automation and seamless operability offered by ClinicSpectrum include:
- AutoCollectSpectrum – Automating balance collection using a technology platform, seamless messaging, decision support and rules for effective processing
- CredentialingSpectrum – A complete credentialing profile module for management of credentialing and re-credentialing activities with complete cloud-based documents, management of credentialing documents, reminders on expiration of various credentials such as CDS, DEA, License, CAQH, Board Certification, Mal Practice, and Hospital Privileges as well as Auto-fax, Auto-email and Secure Messaging. The technology helps companies manage Insurance Participation Agreements or its Contract.
Additionally, ClinicSpectrum’s accounts receivable follow-up service is designed to increase revenue collection for physician offices. The process begins after the doctor’s biller creates and sends Health Insurance Claims (electronic/ paper claims or manual HCFA forms) to various insurance companies.
“With increased medical record requests, daily denials and lower reimbursements, a billing company’s staff responsibilities may require extensive efforts to keep up with existing business,” continued Gandhi. “We know billing teams know their processes in and out. We’re here to do the work and the heavy lifting and lesson their burden.”
ClinicSpectrum is a healthcare services company providing outsourcing/back-office and technology solutions for 17+ medical billing companies, 600+ medical groups/healthcare facilities including hospitals, and hospital medical records departments.
The company is promoted by technical experts from diversified industries. In a span of 12 years, ClinicSpectrum has been able to transform several billing companies and healthcare facilities nationwide with unprecedented efficiency. The company’s strategy is to build productivity through the use of technology, highly trained personnel who deliver results in a timely fashion, and customized consulting services. ClinicSpectrum has created a solution for all the problems in running a medical billing company and medical practice resulting in better clinical records, revenue cycle, and administrative task management. For more information, e-mail Vishal@Clinicspectrum.com or visit www.ClinicSpectrum.com.
# # #
For media inquiries, contact:
Kate Traynor, KNB Communications for ClinicSpectrum