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Overview | Results | Value Proposition | Services | Contact Us
Improving the health of the revenue cycle
for healthcare providers
At a time when health care costs are rising at an accelerated rate, a vast number of revenue transactions are left in the 'waiting room' because they lack necessary charge information for billable items/services or proper attention on unpaid balances. In a best case, this results in significant delay of payment. In a worst case, this results in lost revenue because charges remain unbilled or outstanding accounts are allowed to age. With available cash at a premium, the maximum recovery of all amounts due is critical to most healthcare organizations.
Creditek MediFinancial (CMF) specializes in accelerating and increasing the recovery of cash and revenues for healthcare organizations through the expert management of revenue cycle processes. Because these recoveries - both cash and profits - are typically incremental to current results, they are a valuable benefit for any organization. (Read A Ready-to-Use Remedy for Your A/R Headaches for insights on why organizations turn to outsourcing.)
Would your organization benefit from the types of results CMF has delivered for our clients?
- Managed denials, appeals and troubled accounts for a leading home health provider, and recovered more than 40% of receivables greater than 180 days within the first eight months of the engagement.
- Through deployment of comprehensive billing and accounts receivable management for a world-renowned teaching hospital, increased gross billings and recoveries by 20% as a result of:
- capturing all billable charges;
- improving the timeliness of bills generated;
- proactively managing outstanding accounts.
- By managing all outpatient and self-pay receivables for a leading hospital, realized 35% improvement in recoveries from self-pay receivables and 33% improvement in overall cash position.
- Managed all legacy receivables for a national specialty care provider with multiple operating sites, and recovered 45% of receivables aged over 180 days within 90 days.
Learn more about how working with us has benefited representative clients by reading Benefits of Strategic Outsourcing.
Creditek MediFinancial (CMF) is able to provide a financial return on each outsourcing investment made by our clients because we:
- Leverage a unique combination of deep subject matter and hands-on expertise in the healthcare market to generate incremental cash flow and profit
- Utilize world-class best practices for each patient access and patient accounts process and across all payers
- Apply a robust combination of proprietary workflow software and experience with major third party platforms
- Provide operating scale that allows CMF to keep pace with the growth of our clients
As a result, our value proposition is: Increased cash flow at an accelerated pace with a lower net cost -- producing incremental cash and profitability for our clients.
Understanding that each healthcare organization has its own set of needs, we make it easy to enlist our services. Our outsourcing services span the entire revenue cycle -- from patient access processes such as registration, verification and eligibility, and medical records through patient accounts processes such as billing, a/r management, cash application, and auditing/resolution of denials.
Our services also cover all patient and payer types -- from inpatient to outpatients; and from self-pay through Medicare, Medicaid and Managed Care. Our clients enlist these services either as individual point solutions or as a combination of services to address their most pressing needs.
As further testimony to our flexibility as a provider of outsourced services, clients engage us to manage revenue cycle processes for an extended term, or during an interim transition period around events such as system conversion, acquisitions or other times of stress -- whenever they want to increase performance and avoid staffing, facilities, training and administrative costs.
Here is a snapshot of the services most frequently used by our hospital, DME, physician practice, home health care, specialty care, and skilled nursing clients:
- Receivables Management and Cash Recovery
- Billing
- DNFB Review
- Insurance or Enrollment Eligibility Verification
- Managed Care Contract Review and Compliance
- Denial Audits and Appeals
- Diagnostic Review
Phone: (800) 806.3787
Email: healthcare@creditek.com
Creditek MediFinancial, Inc.
33 Wood Road
Iselin, NJ 08830
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