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Charlotte, NC, United States, 2006/07/20 - PayStream Advisors will host live web seminar on today's Contract Management and Payment Review automation market and discuss the current state of the market and trends in solutions being offered in the industry.
For years healthcare providers have struggled with ensuring they are being paid correctly for the services they render. Too often hospitals and healthcare systems are left to accept the payments received from payers as accurate and are unable to validate they get paid what they are owed. They find it difficult to determine the impact of contract terms while negations are being completed and revenue leaks go unnoticed as large sums of collectable dollars are lost.
The current world of contract management and payment review no longer has the provider searching desperately to find correct payments. The solutions available in the market today allow providers to calculate all payments across patient types and services as bills are sent out the door. Providers have the ability to document payment amounts and inform payers what is expected the first time the payer remits payment. Revenue leaks are able to be reported and monitored to allow managers to better patch the holes that cause denials and fix problem areas in an effort to create a superior revenue cycle model. In addition, contract models are able to be created in a matter of minutes and populations of patients can be compared against one another to determine the most effective rate structure that will benefit the hospital or network.
Long gone are the days of providers sitting idly by as they wait for EOBs and RAs to come back and show them how the payer thinks the claim should be paid. In the new world, the power is put back into the hands of the provider and expectations are set when the bill is sent out. Claims that are paid incorrectly are captured and triaged to real-time worklists as soon as the payment is posted. It’s time for healthcare providers to understand they have the ability to be in control with contract management, payment review, and denials management. PayStream Advisors is focusing on the future of the market and reporting on what the innovators in the field are doing. We understand the challenges that healthcare providers face and are constantly searching for the ideas and solutions that will make things better.
In the upcoming Contract Management and Payment Review (CMPR) webinar presented by PayStream Advisors on August 3, 2006 at 2 PM EDT, attendees can expect to gain insights in the following areas:
1. Trends in Contract Management and Payment Review: what’s driving change and what are some of the modern functionalities in the market?
2. What are the innovators in the industry doing to improve their processes?
3. Key functional areas of focus for CMPR solutions in the industry.
4. What types of solutions are available?
5. Standard CMPR selection criteria, what do healthcare professionals need to know when selecting a system?
6. Information on PayStream Advisors’ upcoming Buyer’s Guide entitled: “Leaving Money on the Table: A Buyer’s Guide to Contract Management and Payment Review Solutions”, available free to healthcare professionals.
PayStream’s CMPR Buyer’s Guide
PayStream Advisors is preparing a buyer’s guide and vendor analysis report to provide information to healthcare organizations about the best contract management and payment review solutions in the marketplace. This 60-70 page report will allow healthcare organization and networks to analyze contract management, payment review and denials solutions. The report, which is targeted for publication in the fourth quarter of this year, is intended to help CFO’s, Directors, Managers, and decision makers with vendor and technology selection decisions as they evaluate new strategies and solutions. The report focuses on solutions and tools that facilitate the automation and outsourcing of contract management and payment review functions. In addition, the report will establish best practices, provide valuable insights into new trends and feature profiles of six to eight leading vendors in this space who have strong capabilities, innovative solutions and product strategies to meet the needs of healthcare organizations across the nation.