Our streamlined contract management system puts you in control of your complex, high-risk contracts. The CorroHealth solution helps you identify denials to optimize reimbursement, reconcile contractuals, and model future contract negotiations. Utilizing our web-based contract management tool, you will identify the primary cause of denials and develop processes to improve workflow with enhanced reimbursement.
The platform contains many reimbursement models developed by the CorroHealth Team, which include the following regulations: Enhanced Ambulatory Patient Group (EAPG), All Patient Refined Diagnosis Related Group (APR-DRG), Centers for Medicare & Medicaid Services Outpatient Prospective Payment System (CMS OPPS), and Medicare Severity Diagnosis Related Group (MS-DRG).
Three Components of the Contract Management Process
We monitor all 837i, 837p, and 835 transactions with our contract and denials management system. The solution removes the hassle of administrative tasks and identifies denials and incorrect contractuals to increase reimbursement. Claim and payment data is presented in the system to monitor and manage care agreements. You can access essential information from any contract quickly as well. The secure, cloud-based repository of the CorroHealth platform maintains access to documents and activity logs and manages provider and payment agreements. Here are the essential components of the contract management process:
1. The Payer Scorecard
Assessing payer performance and identifying trends are integral to contract management. Our system allows providers to hold payers accountable. Healthcare providers can also use our software to access deep analytics and insights to help them understand reasons for overturning and success rates. Providers can use these metrics to determine how often claims are paid correctly and on time. Creating a data scorecard allows you to monitor, respond and manage your data. Our contract management tools will help your organization find solutions that cut through the clutter.
2. Remit Reconciliation
Users can examine the remittance of any type or number of remittances within a specific date range using our contract management tool. The remit data is deciphered and analyzed, and payments are posted accurately in the client’s medical billing system. Cut costs and time spent reconciling remits by reducing manual processes and electing our automated solutions instead. With our contract management tool, you can save work hours on tedious processes, reduce errors, analyze information from multiple payers, and monitor claims.
3. Pro Forma Analysis
One of revenue cycle management’s most critical focus points is comparing existing terms to proposed terms and analyzing their impact. With a pro forma analysis, an organization can predict future values, project performance, and make important decisions about expanding current services. With the proforma analysis, you can estimate cash flow, set realistic expectations, and determine if what you are proposing is financially viable in the future. Use our robust contract management solutions tools to measure the potential impact of decisions, whether you’re preparing or interpreting proforma rate structures.
The CorroHealth Contract Management Tool
Our cloud-based contract management tool can help your organization increase its reimbursement by accounting for every denied or underpaid claim.