New state-of-the-art technology has launched this month at DENmaar that is targeted towards filling the gaps of loss revenue for providers and groups in the behavioral healthcare industry.
We’re on a mission to increase the revenue or all of our clients, and to help them improve their patient satisfaction.
This year, we’ve made a lot of exciting updates to further our goals. We recently launched a new Paypal P2P feature (read about it here), and our latest upgrade adds additional patient capabilities to our RCM.
The new technology that has launched this month, has been added to DENmaar’s RCM, which allows for three new important features for patient billing, that will:
- Improve efficiency.
- Reduce time for staff and costs.
- Increase revenue from patient collections.
- Adds two more additional push to click and send statements to the PayPal P2P feature.
This update is incredibly easy to use, with icons made to send a P2P invoice, email statement or postal statement with click of an icon. We’ve also added color coded icons, which indicate the last time any invoice or statements were sent. The new automatic month-end invoicing system reduces staff work by auto posting payments made by credit card to your dashboard and to our RCM. The best part is that all of these premier features have been integrated into the current software, there is no additional cost associated with accessing them, they are included in our billing services.
This new feature targets anyone looking to improve patient billing of their group, specifically those experiencing frequent high revenue loss.
We’re proud of what we do! We’ve got a lot of technology innovation on the horizon — from artificial intelligence, to fintech and virtual reality — aimed to improve and evolve the behavioral provider landscape. Our commitment is to bring the latest tools to the insurance and patient billing and credentialing services we provide.
Have questions? Contact us by phone at 1-888-595-5101 or email us at firstname.lastname@example.org.Learn More
August is traditionally a month of incredible highs. For many providers, August is often the best revenue month of the year; there are 23 business days and deductibles have subsided for most patients.
However, what comes up, must come down. September, which kicks-off with a holiday, is considerably slower.
These are the financial considerations to take in to account.
Here’s Why Revenue Drops In September
There are only 20 business days in September and vacations take a heavier toll on revenue than you may realize. Unfortunately, fixed expenses do not take a week vacation or get a last hurrah for the summer season. Rent, electric, air conditioning and all of the basis collect bills whether you, your staff or patients are there or not. In a way, the slump of September ends-up balancing out the income boost of August. It’s smart to roll August profits into September to cover possible losses.
How To Boost Financial Performance In September
What financials will advise you of how you will perform in September? By far open AR is your best indicator. Compare your AR from the beginning of August to the beginning of September. If AR was $100K going into August and it is now at $80K, it would be reasonable to assume a drop in September revenue.
Here’s an example from our dashboard.
Here are some tips for getting revenue into September receipts:
- Stress to slow-to-respond providers the importance of getting charges in to billing,
- Submit claims electronically and have EFT established you can have that claim paid in 1 to 2 weeks.
- Refocus efforts on patient balances, after deductibles have been met. Making payments arrangements will help in September, and taking care of them now will keep them from rolling in to 2018 when deductibles start anew.
There is nothing you can do about vacations, they come every summer, but you can improve upon your processes by stressing the need to submit billing daily.Learn More