REVENUE CYCLE SUPPORT
How much are delays costing your organization?
Sharecare can help get your claims paid faster.
Expedite the claims payment process.
The majority of cash flow issues and denied claims are preventable, and payors requesting clinical documentation is one of the leading causes of delays and denials. Unfortunately, sending medical records and itemized billing in support of back-office functions is a costly exercise requiring strong attention to detail and a dedicated workforce.
The Sharecare solution
By partnering with Sharecare for your ROI services, we can also retrieve the requested medical and billing records and submit them back to the payor for you. We do this using our highly trained staff, secure systems, and medical records expertise. Our global team is hard at work while we’re still sleeping in the US, getting records to your payors and getting you paid faster.
By the numbers
4.8%
increase in denials in one year due to medical documentation requests
$773
cost of capital per $20K claim (180 days outstanding at an 8.25% interest rate)
3rd
ranking of medical documentation requested denials (up from 5th one)
89%
of hospitals over the last three years have seen a rise in denials
300%
increase in DRG (Diagnosis Related Group) audits year over year
Don’t leave money on the table due to denials and cash flow restrictions
Claim denials and cash flow challenges cause sizable revenue leakage for healthcare providers across theUnited States every day. Sharecare’s suite of Late Revenue Cycle Support Services can help put in corrective actions at every point in the revenue cycle to ensure your organization won’t have its valuable time or finances tied up.
Leveraging our ROI partnership
Sharecare’s late revenue cycle support process
Claim submission
You submit your medical claim to the payor for reimbursement.
Request for additional info
The payor sends a request for additional clinical documentation to continue processing the claim for approval/payment.
Fulfillment management
Sharecare’s highly trained, Best in KLAS ROI experts manage the communication with the payor and pull the relevant clinical documentation needed, promptly sending it to the payor.
Continuation of claim processing
The payor receives the additional information requested from Sharecare and continues processing your claim, helping to free up your cash flow and resources and get you the money you deserve for the care you provided.