Whew! 2016 has been a challenge. As it draws to a close, I thought that remembering the highlights would be great way to launch 2017. Here are a few of my favorite things:
- We mastered our deductible management protocol to maximize collections from payers and patients alike. We finally beat, for the most part, the dreaded February cash flow slump with a combination of targeted holds, systematic tracking and release, and special collection projects.
- We launched Checkflight, our data platform for clients with tools we originally developed for our own use. The most popular, so far, is the Denial Queue report, a detailed daily list of all the prior day's denials and recoupments categorized for accountability and completion. In addition to improved denial response times, we used the aggregate data to reverse-engineer process improvements to prevent recurrence and lower overall denial rates. Hooray!
- We launched Where Are They Now?, a platform for tracking each sales dollar to its ultimate resolution. You would be shocked to know what percentage of AR represents phantom sales.
- We launched MiraVista 101, a training program for internal billing departments based on our own staff training. I think, hands down, the best sessions are the Denial Management and Research Workshops because they teach staff how to solve the unanticipated problems without overreliance on a single manager or expert.
- We launched Never Mind the Trick, of course.
Can you keep a secret? Between you and me, here are a few sneak peeks at what we are working on (Shhhhh!):
- We are working on a massive update to our custom validation engine that automatically flags claims errors before transmission to avoid rejections and denials. The new update will allow billing staff to create and test their own custom rules.
- We are developing a tool to manage new equipment set ups for patients that have exceeded the Reasonable Useful Life (RUL) of existing equipment.