CHARLOTTE, N.C., June 19,
2024 /PRNewswire/ -- Prochant, the leader in
home-based care revenue cycle solutions, is enhancing its
innovative workflow and analytics platform, Prochant Pulse, with a
new Financial Intake Workflow to improve eligibility verification
and prior authorization for infusion pharmacies. This latest
enhancement to Prochant Pulse underscores Prochant's
commitment to technological innovation and delivering superior
solutions for its clients.
The healthcare industry is increasingly competitive, with
providers facing labor shortages, insufficient staff training and
shrinking margins due to rising labor costs. These providers need
help streamlining processes to facilitate faster and more accurate
payments. Consequently, revenue cycle management (RCM) has become
crucial, with many healthcare leaders dissatisfied with their
current RCM strategies due to high accounts receivable balances and
excessive write-offs. To address these challenges, many healthcare
providers are outsourcing RCM functions to third-party vendors like
Prochant. Prochant Pulse's streamlined processes not only
facilitate a smoother intake process but also enhance both the
patient and provider experience by reducing delays.
In infusion services, financial intake processes are often slow
and fragmented, relying on generic communication tools and
spreadsheets, leading to delays and inefficiencies that affect
timely payments and performance auditing. As the cost of infusion
treatments is extremely high, this can lead to significant revenue
losses. Therefore, in an industry that is estimated to have an
annual growth rate of 26% over the last four years – more than
double the growth rate of other healthcare sectors - infusion
providers are looking for a solution to quickly remediate their
financial intake challenges.
With 25 years of experience in home-based care and as
specialists in the infusion sector, Prochant has been honing
technologically driven solutions to solve critical issues plaguing
the industry. Prochant is now introducing its Financial Intake
Workflow enhancement to Prochant Pulse to address these issues by
streamlining financial intake processes, reducing turnaround time
(TAT), ensuring efficient prior authorization, customizing form
flows and increasing visibility and accuracy. Key outcomes for
clients include cutting eligibility verification time to less than
60 minutes, submitting prior authorizations within 24 hours of
eligibility verification, ensuring payments and providing
comprehensive visibility for accurate performance auditing.
"We recognized the critical need for a solution that assures
timely and high-quality completions of benefits verifications and
prior authorizations in the infusion pharmacy sector. The Financial
Intake Workflow addresses this need by providing a seamless,
efficient process within Prochant Pulse, empowering our clients to
enhance their revenue cycle management and achieve greater
operational efficiency," said Matt
Pretzer, M.D., chief product officer.
"Our commitment to innovation and excellence drives us," said
Prochant CEO Mathew Mammen. "The new
Financial Intake Workflow in Prochant Pulse is a testament to our
dedication to optimizing processes for infusion pharmacies,
ensuring they receive timely payments and accurate performance
auditing. This enhancement provides our clients the tools they need
for financial stability and success."
To schedule a demo, visit prochant.com or email
marketing@prochant.com.
ABOUT PROCHANT
Established in 1999, Prochant delivers focused revenue
cycle management (RCM) solutions to healthcare providers for the
home-based care industry. Our expertise lies in providing
end-to-end RCM for home-based care, HME, infusion services,
specialty pharmacies and home health and hospice, consistently
delivering exceptional results to some of the leading healthcare
providers in the country. We combine innovative technology in
workflow and analytics and deep industry knowledge to streamline
the time-consuming and expensive reimbursement process. As a
result, we help healthcare providers accelerate their collections,
increase revenue and reduce operational costs while managing
risk.
Contact
Greg Krantz
VP of Marketing
+1 (888) 349-9015
Marketing@prochant.com
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SOURCE Prochant