The foundation of your business
Exdion Cash is the support platform for healthcare providers' financial stability, incorporating essential elements for smooth and effective operations. With an emphasis on integration, Exdion Cash provides practical business insights that improve efficiency in managing revenue cycles and enhance upstream services. Exdion Cash is the backbone of financial health for healthcare providers, encompassing a variety of vital components aimed at seamless and efficient operations:
Timely Billing
Claims submitted within a 24-36 hour window to maximize reimbursement speed, while streamlined billing processes reduce the aging period of accounts receivable.
Benefits Verification
Verifying patient benefits to avoid services not provided for or need for a payment plan and proactive communication regarding co-pays, deductibles, and out-of-pocket expenses to avert delayed payments.
Accurate Coding
Employing a checklist for high-value codes prevents claim delays or denials due to insufficient information and reducing denial rates to less than 1% - 2%.
Clear Documentation
Ensuring all necessary documents are attached to claims reducing rejections and expediting resolutions.
Exception Handling
Establish methods for handling exception cases outside of standard rules to review and resolve cases efficiently.
Auto-Posting Rules
Create automated posting rules for common payment scenarios, such as co-payments, deductibles, and contractual adjustments, to reduce manual involvement
Reconciliation Process
Adopt a routine reconciliation process to quickly identify and rectify any discrepancies between posted payments and expected amounts from payers.
Audit Trails
Maintain detailed audit trails for payment transactions, crucial for tracking changes, ensuring compliance, and providing a clear payment posting history.
Technology Integration
Employ advanced billing software to automate processes, minimizing errors, accelerate billing cycles, and improve revenue management overall.
Follow-Up on Claims
Establish a reliable follow-up system for unpaid or denied claims, tracking their status to identify and resolve issues quickly.
Denial Management
Analyze common denial reasons and implement strategies to minimize denials with a systematic approach for appealing denied claims for maximum reimbursement.
Regular Audits
Conduct internal audits to rectify billing errors, enhance upstream services using business intelligence and analytics, and ensure compliance and prevent revenue loss.
Aging Reports
Employ technology-driven automated accounts receivable (AR) follow-up tailored to clients and payors, address backlogged AR with an automated approach, regularly review AR aging reports, and promptly handle overdue accounts to minimize revenue cycle times.
Analytics
Integrated within the AR service to enhance upstream services by providing actionable business intelligence improving overall efficiency in revenue cycle management (RCM).
- Timely Billing: Claims submitted within a 24-36 hour window to maximize reimbursement speed, while streamlined billing processes reduce the aging period of accounts receivable.
- Benefits Verification: Verifying patient benefits to avoid services not provided for or need for a payment plan and proactive communication regarding co-pays, deductibles, and out-of-pocket expenses to avert delayed payments.
- Accurate Coding: Employing a checklist for high-value codes prevents claim delays or denials due to insufficient information and reducing denial rates to less than 1% - 2%.
- Clear Documentation: Ensuring all necessary documents are attached to claims reducing rejections and expediting resolutions.
- Exception Handling: Establish methods for handling exception cases outside of standard rules to review and resolve cases efficiently.
- Auto-Posting Rules: Create automated posting rules for common payment scenarios, such as co-payments, deductibles, and contractual adjustments, to reduce manual involvement.
- Reconciliation Process: Adopt a routine reconciliation process to quickly identify and rectify any discrepancies between posted payments and expected amounts from payers.
- Audit Trails: Maintain detailed audit trails for payment transactions, crucial for tracking changes, ensuring compliance, and providing a clear payment posting history.
- Technology Integration: Employ advanced billing software to automate processes, minimizing errors, accelerate billing cycles, and improve revenue management overall.
- Follow-Up on Claims: Establish a reliable follow-up system for unpaid or denied claims, tracking their status to identify and resolve issues quickly.
- Denial Management: Analyze common denial reasons and implement strategies to minimize denials with a systematic approach for appealing denied claims for maximum reimbursement.
- Regular Audits: Perform routine internal audits to rectify billing errors, utilize business intelligence and analytics to improve upstream services, and leverage internal audits to ensure compliance and prevent revenue leakage.
- Aging Reports: Utilize technology-driven automated accounts receivable (AR) follow-up customized by clients and payors, implement an automated approach to address backlogged AR, regularly review accounts receivable aging reports, and promptly address overdue accounts to prevent prolonged revenue cycle times.
- Analytics: Integrated within the AR service to enhance upstream services by providing actionable business intelligence improving overall efficiency in revenue cycle management (RCM).