In the fast-evolving landscapr of healthcare, medical providers are constantly seeking ways to improve patient care, streamline operations, and boost revenue. One often overlooked avenue for achieving these goals is through the implementation of proprietary sowtware solutions. While the benefits are numerous, one of the most impactful is the ability to substantially increase third-party revenue for hospitals, health systems, urgent care centers, surgical centers, and large physician groups. In this post we'll explore how our proprietary software can unlock new revenue streams and drive growth for healthcare organizations.

Most organizations utilize sophisticate billing software and a team of Revenue Cycle Managers to maximize payments, While these efforts may seem adequate, the truth is despite these efforts billing errors still remain and there can still be a sizeable amount of money your facility is due based on your third party contracts.

The Method:

Our expert providers in this field have specialized software that can do what no other system or human can do. Through the creation of custom algorithms for each of your third party contracts, it goes to work after you RCM teams have completed their work. Though they may feel like they have maximized your payment, the truth is with over a decade in the space this software boasts a 100% success rate in analyzing your last 12-24 months of remittances and recovering additional revenue that you are contractually owed. In fact, the average revenue recovered represents an additional 20% of gross receipts. This is not a misprint. Experience has shown that there is still money left on the table and using this method it can be recovered for you. Imagine what your organization can do with an additional 20% in revenue. This is not a knock on your teams nor is it meant to replace them. They are excellent at what they do, but they simply can't do a deep dive into each insurer's contract to collect every nickel owed to you. The results will speak for themselves.

The Advantage:

The distinct advantage with this software is it is utilized on a fee-contingency basis. If for some reason no additional revenue is recovered you will never receive an invoice for the service. The company is so confident in this solution that they assume all the risk. What's equally important to note, any fees charged for your recovery are paid from "found money" which essentially makes it a no cost proposition since you need not put up additional funds to utilize it. This truly represents a no risk/all reward opportunity.

Conclusion:

In conclusion, this software can be a game-changer for medical providers looking to increase third-party revenue and drive growth. Leveraging the analytics power and integration with your third party contracts by adding this solution behind existing billing and RCM efforts can offer the most comprehensive approach to revenue generation in the healthcare industry. Medical providers can unlock new opportunities for revenue growth without any risk or "lift" on the organization's part, positioning themselves for long term success in an increasingly competitive market.

Take an opportunity to learn more about how it can boost revenue for your organization by contacting Reed Advisory Group today. This could be the best call you ever take,