Welcome to “Pain Points,” a newsletter from Solvent Networks intended to discuss the problems that keep hospital leaders up at night and inform them about programs, services and products offered by our endorsed business partners that can help. We tackle pain points and present ready-to-deploy solutions.
PAIN POINT
We have a LOT of revenue cycle challenges!
SOLUTION
PARAREV can handle them.
PARAREV has a simple message for hospitals: Any challenge you have for the revenue cycle, we can meet. That’s a bold statement, considering how many challenges hospitals face: price transparency compliance, claim denials, coding errors, and pricing strategy to name a few.
That’s why Solvent Networks has recruited PARAREV, a leading health financial analytics and solutions company, to join our network of endorsed partners. PARAREV offers extensive experience and proven resources that can bring significant improvement to the bottom line. As account manager Sandra LaPlace says, “Our goal is to be your single-source revenue solution.”
The company serves more than 350 hospitals and health systems nationwide in partnership with state hospital associations, GPOs, regional affiliates and rural health collaboratives. Their consultants have an average of 21 years of experience, bringing a wealth of knowledge to the partnerships.
In a recent introductory webinar, members of the senior leadership team detailed many of services they offer, including:
- A price transparency tool to ensure compliance with CMS and No Surprises Act requirements;
- The revenue integrity program that includes charge master deck review, interviews with key department team members, and monthly meetings to review progress and provide updates;
- Pricing strategies based on peer market comparisons, reimbursements and cost-based pricing;
- Payer contract management, including reimbursement analytics, claims denial management, and a claims denial scorecard that allows upper management to monitor the results;
- Automation that prevents the same errors from being made over and over, avoiding denials and saving staff time.
“We feel what makes us truly unique is that we have been able to apply actual automation to decision-making,” said John Giuliani, vice president of operations, which prevents ongoing problems with repeated errors such as incorrect coding or missing authorizations. “It provides automatic guidance. It’s like TurboTax for the revenue cycle.”
For a demo of how the system works, contact account manager Sandra LaPlace at slaplace@pararevenue.com, or contact Kristin Hill at khill@scha.org, business development manager at Solvent Networks. If you missed the introductory webinar, it’s still available on demand here.
As a division of the South Carolina Hospital Association, we understand the hospital business. Our ready-to-deploy solutions for your workforce, financial, operational and compliance needs can save money on your bottom line – or generate revenue that you can re-invest in improving healthcare for the people of South Carolina. For more information, visit Solvent Networks, follow us on LinkedIn or watch HERE. Access your network today.