Dynamic Healthcare Systems announced improvements to its Enrollment and Premium Billing services to support health plan clients offering Employer Group Waiver Plans.
The company is a provider of health plan and system solutions participating in Managed Medicaid, Medicare Advantage and Marketplace programs.
The improvements to the solutions include functionality for importing cancellation, enrollment and disenrollment files. The changes make it easier for health plans to bill employer groups that have multiple rate plans. They also improve the efficiency of custom invoice templates.
The company’s Medicare Advantage suite of solutions provide a platform that allows for a strong risk adjustment strategy for accurate risk-adjusted payments. Dynamic’s solutions also ensure that health systems and plans meet the complex data and compliance requirements set forth by the CMS (Centers for Medicare and Medicaid Services). Users can view Plan membership information in a single view, making it easier to provide quality managed care while helping plans meet revenue management and compliance challenges.
News of Dynamic’s changes comes as Derby, a company in the UK, announced that its automated billing system helped save a medical group 60 hours of staff time each month.
The company, Oberoi Consulting, which is based in Pride Park, was commissioned by The Westcliffe Group and Westcliffe Health Innovations.
The medical companies required a more efficient and simplified billing system after the staff member responsible for billing was absent long-term. Steven Mc Clary, development manager at Oberoi Consulting, worked closely with the team at Westcliffe to better understand their billing procedures. A new, more efficient system was developed by Oberoi.
The new automated system extracts relevant data and exports it from Excel directly into a customized invoice template. The automated system saved the company 60 staff hours per month.
“Oberoi Consulting has been great at interrogating SystemOne and ensuring the correct and relevant data is captured at point of entry,” said managing Westcliffe Group partner Julie Winterbottom. “Equally, we found their insight into how we can make sure the end data is extracted in the way we need it invaluable – this really goes a long way to help us better manage the short and long-term health of our patients.”
In addition to saving the company time, the new system also eliminated the risk of human error or omissions. The group ensures that it’s paid the right amount of money for the exact services it provides.
The company’s system was created especially for Westcliffe, but the solution can easily be replicated for use by independent health organizations and surgeries. Westcliffe now uses the system, SystemOn, developed by Oberoi Consulting, on a full-time basis.
Invoicing and billing remains a challenge for healthcare systems around the world. In the United States, 77% of customers in 2015 reported that they were confused about the explanation of the benefits they receive in their health plans. About 76% were confused by the bills they received from their providers. About 70% of providers report that it takes a month or longer to receive payments from patients.
Surveys have also found that the majority of patients want to be able to pay all of their healthcare bills in one place.