Healthcare
Successful management of claim submission and resubmission is a daunting task for
any healthcare organization. Automation of this process has proven to be the only
option for successful collection of the majority of denied and partially denied
insurance claims.
K2 Micro Systems has developed a process, utilizing technology, which minimizes
the amount of human interaction with physical documentation. This will result in
limiting the number of errors made and time spent gathering documentation for
resubmissions.
Due to new federal policies in place making it increasingly difficult to collect
from Medicare and Medicaid, it is imperative that claims to these organizations
be made with 100% accuracy. Automating the process of information and image
gathering can help insure that all claims are submitted correctly, timely,
and accurately. This will reduce collection times and increase overall collection
percentage while reducing the amount of administrators necessary for the handling
of these submissions.
Traditionally healthcare organizations have had two options for handling
their claim submissions and resubmissions.
1. Internally
Limits successful claim resubmission on average to less than 20%
Creates high volume of staff to handle the claim process
Manual submissions are error prone and cumbersome
2. Outsourcing
Limits the amount of revenue that can be collected
Generally increases in contract cost over time
Manual transfers of information to the BPO can be fraught with errors and are not necessarily
completed in a timely manner
K2 Micro Systems has a different idea. We are bringing our 18 years
of banking and insurance experience to the medical world. K2 utilizes our expertise
in the healthcare billing process, insurance denial policies, our superior technical
knowledge, and old fashioned work ethic. We have been able to put a system together
that supplies healthcare organizations the ability to resubmit each and every claim
that gets denied or partially denied.
Increasing the amount of denied claims that are resubmitted can significantly
impact your bottom line. K2 automates the billing process through
custom designed software that integrates all legacy systems and utilizes
the information within those systems. This allows healthcare organizations
to capitalize a significantly greater percentage of their receivables, while using
significantly less staff necessary to manage each payer relationship.
Regardless of whether you’re utilizing electronic health records
or are still working the old fashioned way with manual data entry, we
have the tools to put your organization well ahead of the game. Collecting
on 90% more insurance resubmissions can make a dramatic improvement to your
bottom line. We focus on streamlining your processes; not dictating how to
handle your claims process. Getting your users involved in the design and
decision making process insures that they will utilize all the advantages of
the new system. It is vital to any implementation to have everyone involved in
order to exceed expectations and deliver measurable results.