American HealthTech, Jackson, Miss., has introduced automated eligibility verification as the first component in its new revenue cycle management (RCM) solutions suite. The tool automates the process of verifying a person’s benefits and coverages prior to service, which can ensure correct billing, reduce denied claims and make reimbursement processes more efficient.
Hospitals have used automated eligibility verification for years, but skilled nursing facilities (SNFs) are now finding themselves in urgent need of automated tools to capture revenue, explains Teresa Chase, president of American HealthTech. “A facility with dozens or hundreds of residents—and no automated eligibility verifcation process—can burn thousands of dollars on inefficient eligibility management every month,” Chase said in a press release, noting that the average cost of managing denials is about $25 per claim.
Additional modules in the company’s RCM solution—expected to be released in first quarter of 2016—include claims scrubbing for 837 claims, claims status and remittance management. Modules for denial management and contract management will follow later in 2016.