How are your payers performing? Some hospitals and clinics focus too much on payment rates when considering the value of their payer contracts, giving too little consideration to payer performance as defined by payment timeliness and accuracy, administrative hassles, denial rates and reasons, and more.
Understanding a payer's performance as a partner in your business requires a complex and nuanced analysis of metrics that haven't always been easy to come by. The CostFlex suite of software modules will definitely help with this.
As with all the other CostFlex value added products, analyzing payer performance enjoys the availability of accurate and detailed cost and reimbursement data.
Limited only by the imagination of the analyst, the literally hundreds of standard reports and user created queries in the CostFlex System offer the timeliness of payments broken down by clinical codes and claim amounts, the number and type of denials received, and the overall profitability of dealing with the payer.