FinThrive, a healthcare revenue cycle management software-as-a-service (SaaS) provider advancing the healthcare economy, has officially announced the launch of two business continuity solutions i.e. Standby Claims and Standby Eligibility. Although slightly different in what they bring forth, both these solutions are well-equipped to provide critical backup capabilities during unplanned revenue cycle interruptions, thus significantly improving healthcare providers’ financial stability and reducing the overall risk. Talk about these solutions on an individual level, we begin from FinThrive Standby Claims, which is a comprehensive solution designed to facilitate billing workflows and clearinghouse services. This particular solution markedly comes decked up with pre-configured backup, meaning once you place it alongside existing applications, you can achieve a seamless switchover in the event of a system failure, such as a cyberattack. Next up, the Standby Claims solution has in store a full-version claims manager. Such functionality becomes instantly useful once you consider how you can use it for claims scrubbing and clearinghouse functions. By doing that, you also ensure accurate and efficient claims submission to payers. Then, there is the EHR/PAS Integration, which treads a long distance to let users realize seamless integration with Electronic Health Records (EHR) and Patient Administration Systems (PAS) for tracking and reporting purposes. Joining the same is a quick fall-over aspect that empowers you big time in the context of quickly switching to production mode. Providing a backup alternative for editing and submitting claims, the stated aspect allows billing operations to be restored within hours to no more than a few days, depending on customer readiness and regular maintenance.
“Our new Standby Claims and Standby Eligibility solutions exemplify our commitment to providing healthcare providers with the tools they need to maintain operational and financial stability in today’s volatile cybersecurity environment,” said Mark Janiszewski, Chief Solutions Officer at FinThrive. “We are excited to showcase these innovations at the HFMA Annual Conference and demonstrate how we can help our customers be better prepared for potential interruptions to their critical revenue streams.”
As for FinThrive Standby Eligibility, it basically provides a resilient backup when making up the centerpiece are eligibility verification processes, and it does so to ensure that healthcare providers can maintain accurate eligibility checks even during disruptions. Here, too, you get a pre-configured backup mechanism to conceive rapid switchover. Alongside that, you can expect full features of access coordinator – insurance verifier, which packs together all capabilities to screen patients for insurance eligibility before care, helping providers quickly determine payment responsibilities up front. Another detail worth a mention is, of course, concerned with the prospect of an enhanced patient experience. This experience, on its part, involves clear insights into expected reimbursements that enable cleaner claims submissions, improved financial counseling, and reduction of unnecessary, duplicative efforts. Hold on, there is more, considering we still haven’t touched on the fact that you will also receive the most up-to-date coverage data. Given the focus on delivering fresh piece of information, the solution is able to achieve that required efficiency and accuracy with automation. Complimenting the same is how the promised information is also provided in a user-friendly format. Finally, we must get into the product’s quick recovery mechanism where you are bestowed with a speedy and hassle-free access to patient eligibility status and coverage.
