Payer contract analysis is a critical part of financial management for any healthcare organization, and like most other decision support tasks, it’s practically impossible to perform without capable payer contract analysis software. Keeping track of just a few payers’ contract terms by hand is difficult enough, but most hospitals are trying to manage significantly more effectively. Healthcare payer contract analysis software is also instrumental in evaluating each payer’s financial performance.
Managing numerous payer contracts and ensuring proper reimbursement is much easier with the CostFlex Payer Contract Analyzer solution. This tool, combined with the CostFlex Total Cost Accounting software, automates the healthcare payer contract analysis process and presents data your organization can use to effectively negotiate with payer representatives, provide for short paid account recovery data, and increase your overall profitability. Read on to see why using CostFlex’s Payer Contract Analyzer is the right move for your business.
THE BENEFITS OF HOSPITAL PAYER CONTRACT ANALYSIS SOFTWARE
Payer contract analysis software and technology provide an efficient way for hospitals and other healthcare organizations to analyze the individual, detailed terms of large volumes of different payer contracts by automating the process and storing the data within a single database. Our Payer Contract Analyzer will automatically check payers’ payment remits against the actual negotiated contract terms stored in the CostFlex database, helping organizations ensure correct reimbursement and promote accurate remits from payers going forward.
In addition to ensuring all payments received agree with the terms of the various contracts involved with the services in question, healthcare payer contract analysis software can also be used to negotiate profitable contract terms with payer representatives upfront. As a result, hospitals that employ this strategy with reliable payer contract analysis technology are better able to position themselves for maximum profitability for all patients serviced within competitive markets.
THE COSTFLEX PAYER CONTRACT ANALYZER SOLUTION
CostFlex’s Payer Contract Analyzer automates 100% of all reimbursement contracts (including government). It automatically analyzes all payer information in a single interface, making accurate payer reimbursement data management and reporting quick and convenient. In addition, its integration with our Cost Accounting solution allows healthcare organizations to continuously monitor their profits and losses (both projected and actual), identify areas of potential financial improvement regarding payer performance, and promote accurate and dependable budget planning throughout the year.
The Payer Contract Analyzer is designed to be run with minimal attention from your team after the initial automation of the payer reimbursement terms, so you won’t need to hire a large staff or devote significant labor hours to its operation. For all these reasons and more, our payer contract analysis software for hospitals is considered the best in its class.
Our team will complete a turnkey installation when you sign up for the CostFlex Payer Contract Analyzer. In addition, a dedicated project manager will be assigned to your organization to keep the installation process moving on schedule and oversee staff training. If you have questions along the way, your project manager will be available to answer them.
CostFlex promises the best customer support services in the healthcare payer contract analysis software industry. Unlike competitors that may hire third-party call centers to take their requests, we fill our support teams with experienced development programmers with intimate knowledge of our software. As a result, nearly all support issues can be resolved when we receive the call, but if a request needs extra time, we’ll deliver a resolution in 48 hours or less.
COUNT ON THE COSTFLEX PAYER CONTRACT ANALYZER
Like the rest of our solutions, our satisfaction guarantee applies to the Payer Contract Analyzer tool: If your organization isn’t completely happy with our software and services, you may request a full, unconditional warranty for up to three months after your turnkey installation is complete.
To try out our payer contract analysis tools before purchasing, request a product demonstration. If you have any other questions about the Payer Contract Analyzer in particular or CostFlex Systems, Inc., in general, please contact us at your convenience.