Finance & Operations Solutions for healthcare

Intelligent management of back office financial and operational issues can dramatically improve the productivity and profitability of healthcare organizations. High value data can be protected and high value operations can be streamlined to realize previously unrealized efficiencies.

Consolidate and Protect Valuable Financial Data With Our AR Workdown Solution

In addition to managing patient clinical data, patient accounting data can’t be ignored. Similar to the scenario where multiple EHRs are in operation, there are often multiple accounting systems in operation – often the result of acquisitions.

With active receivables present in these systems, the risk exists of that data becoming inaccessible or disappearing as the result of system failure or system sunsetting and the accounts becoming uncollectable as a result. This unnecessary risk can be avoided by consolidating records within VisualVault where the data is protected and easily accessible as ongoing collections efforts commence.

Automated Analysis of Charts Improves Claim Management

The Chart Acquisition Platform improves the efficiency of claims processing and billing by helping hospitals and physician services organizations automatically analyze the completeness of charts, identify deficiencies and kick-off workflow automation early in the process in order to address those deficiencies.

The Chart Acquisition Platform also gives administrators the ability to gain insights into the overall performance of a claims department; allowing them to identify areas for business optimization. This solution reduces the time it takes to deliver completed charts to payers from weeks to days; dramatically reducing Days Sales Outstanding (DSO). Timely Filing Denials and related write-offs become largely a thing of the past.

Credential & Licensure Management Automates Critical Certifications and Renewals

Training, certifying and licensing healthcare workers is of paramount importance, so the efficiency and accuracy of the process can’t be sub-par.

The VisualVault platform is well-suited to deliver the organization automation solutions for a broad range of processes and functionalities. The VisualVault solution delivers:

End-to-end management of physician, provider and resource credentialing and review
Centralized management of practitioner certificates, licenses, training and competency reviews
License and certification validation across primary sources
Automation of committee review processes
Ability to serve as the centralized source of functionality across all systems

“That’s a Good Question!”

Below are some frequently-asked questions and short answers about how VisualVault can help improve financial and operational processes.

Why would one healthcare organization be using multiple accounting systems?

In the healthcare industry and many other industries, acquisitions are commonplace. When one organization makes an acquisition of another, they also acquire their systems. Particularly for large organizations that have an active acquisition strategy, they can very quickly end up with multiple accounting systems that house valuable accounts receivable records.

Using VisualVault to consolidate the data and mimic the functionality of the legacy systems can prove to be a very intelligent investment.

Automation of AP and AR processes sounds great but doesn't elimination of human review create its own set of problems?

Admittedly, there are still many processes that machines can't execute as well as a human. However, most basic data-centric administrative processes are executed faster and better with today's automation technologies. Additionally, small investments in technology and process changes such as the more efficient structuring of data upfront, can position organizations to benefit dramatically from automation moving forward.

VisualVault's platform capabilities and experience implementing solutions in this area dramatically reduce any downsides and optimize the financial upside.

What's the downside of a healthcare system using general market finance software?

General market software can likely handle general requirements you have of a solution. However, healthcare has a broad set of unique processes that are likley not well-addressed by general market software.

There are two very simple reasons VisualVault is likely a better option. Most importantly, our platform employs some of the most sophisticated data management and analysis technologies available today and secondly, it delivers analytics capabilities that general market finance software cannot deliver.

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