Infor, the industry cloud company, today announced the availability of Infor Healthcare Revenue Cycle Management 3.5, which includes key updates to help organizations further simplify and enhance the billing and receivables process. Infor Healthcare Revenue Cycle Management is an electronic, flexible, rules-based and exception-based workflow engine for revenue cycle management and patient billing that provides healthcare organizations with tools to gain greater control over operational and financial processes, saving both time and money. Infor HRCM is also available as a cloud-based solution that is designed to be HIPAA-compliant and includes encryption, application monitoring and audit controls. Deployment via the cloud offers reduced hardware costs, greater security, reduced application administration, scalability on demand and improved infrastructure management.
Used by multi-site hospitals, reference laboratories, physician billing organizations, and healthcare specialty providers, this application provides patient revenue staff with real-time data on compliance, days receivable outstanding, rejections, and write-offs. In addition, it allows for customized patient statements and invoices, split billing to multiple payers, and automated collection processes.
The newest version touts updated features designed by Hook & Loop, Infor's in-house design agency, to offer users a more consumer-grade, innovative look and feel. In addition, as part of the follow-up and collections process, Tracking of Appeals can be used to assist in proper turnaround on rejected and re-billed claims. The update also allows users to flag notes so they are more visible, to assist in proper handling of patient and client billings and receivables, and delivers a pop-up payment calculator so users can calculate on-the-fly to determine the balance to be owed by a patient prior to goods and/or services being rendered.
"Located in DeLand and Fort Lauderdale, Florida, DaVita Labs is an independent division operating within DaVita HealthCare Partners Inc. that provides quality, on-time, accurate lab results to help identify and manage kidney patients across the nation. DaVita Labs performs more than 47 million laboratory tests each year and is fully accredited by federal and state governmental agencies and the College of American Pathologists," said Jason Cline, vice president and general manager, DaVita Labs. "Infor's HRCM product provided full accounts receivable functionality and has proven to be an excellent software solution for DaVita Labs' unique industry requirements. The ease of use in screen transitions along with the robust ability to filter/query for all fields provides significant control to the end-user. This new version of HRCM is primed to help us drive efficiencies and support our commitment to continuous improvement in our operations."
In addition, Infor Healthcare Revenue Cycle Management is set up to handle multiple diagnostic code sets to ease the transition from ICD-9 to ICD-10 coding without interruptions in billings and cash flow.
"Changes in payer and regulatory rules, ineffective processes and time-consuming tasks consistently plague healthcare organizations of all sizes, and directly impinge on cash flow and patient billing processes, which severely impact bottom line results," said Mike Poling, vice president, Healthcare, Infor. "Successful organizations need to mitigate these issues, while reinforcing bottom line results in the process. Infor Healthcare Revenue Cycle Management offers a scalable and flexible solution to maximize collections, reduce gross days receivables outstanding, and improve your cash flow - keeping organizations of all sizes competitive in the market."
Infor (infor.com) is fundamentally changing the way information is published and consumed in the enterprise, helping 73,000 customers in more than 200 countries and territories improve operations, drive growth, and quickly adapt to changes in business demands. Infor offers deep industry-specific applications and suites, engineered for speed, and with an innovative user experience design that is simple, transparent, and elegant. Infor provides flexible deployment options that give customers a choice to run their businesses in the cloud, on-premises, or both.