Healthcare provider Revenue Cycle Managers, CFO’s, CEO’s etc. can easily view their CvC reporting (Collected vs. Collectable) to monitor payer collection performance. (this is what will stay over the fold)
Collected vs. collectable reporting compares cash actually collected to cash that should have been collected based on Payer contracts. Monitoring CvC allows revenue cycle staff to keep track of high-level outcomes while managing performance at a detailed level. In addition, CVC is easy for healthcare providers to understand, so it is a useful tool for engaging in financial goals. With Revenue Masters CvC, you can keep track your CvC progress 24/7.
By modeling your Payer contracts, Revenue Masters CvC will always keep you informed about your healthcare underpayments, denials and collections. Revenue Masters CvC is a simple and quick way to assess your payer claims activity. See volume of new claims for a specific period of time, you can choose to see your data for the year, for the month, or for the week. Revenue Masters CvC shows how many payer claims have a payment variance in the period of time you selected and how many of those payment variances are underpayments or denials.
You can also see how much revenue is outstanding, monitor the volume and revenue in appeal status, and see the total revenue received overall. You have the ability to track and compare revenue key performance indicators by year, month, or week with the click of a button. The Revenue Masters CvC App also displays payment variance trends, payer mix, top 10 providers, payers and CPT codes with the highest total payment variances for the determined time frame, and top reasons for denials.
RMC management know how much money in underpayments and denials you should be recovering. Monitor the volume and revenue in appeal status, see the total revenue received overall and have the peace of mind you are always updated about what is going on in your revenue cycle.
Works for:
Hospitals & Healthcare Systems
Critical Access Hospitals
Rural Hospitals
Physician Groups five or larger
LTAC / Skilled Nursing Facilities
Ambulatory Surgical Centers
Home Health
Clinics
Hospice and more...
Download Revenue Masters CvC for FREE now with dummy data and see all the benefits you could gain by using the mobile app with the Revenue Masters Cloud Contract Management service.