In today’s complex healthcare landscape, providers are under increasing pressure to manage costs while maintaining high-quality patient care. The need for a comprehensive medical billing services and revenue cycle management (RCM) solution has never been greater, and athenaOne®’s athenaCollector® delivers just that.
Billing with athenaCollector®
This robust billing solution simplifies the billing process, allowing for greater accuracy and reducing the likelihood of denied claims. With a streamlined claims management process, healthcare providers can be paid faster. athenaCollector® also includes automated workflows that free up staff time, making it easier for them to manage patient accounts and payments, along with the following five features.
1.) Electronic Data Interchange (EDI)
Electronic data interchange is significant in healthcare as it dramatically reduces manual data entry and consequently reduces errors. athenaCollector® offers electronic data interchange capabilities allowing payers to send payment directly to a provider’s practice management system electronically. You can also track payments in real-time, manage claim submissions, and verify claim status promptly. EDI saves resources and expedites payments, freeing up more time to focus on providing patients with better quality of care.
2.) Eligibility Verification
Eligibility verification has always been a time-consuming and frustrating process for providers. athenaCollector® provides a real-time system that verifies insurance eligibility ahead of providing services to the patient. This feature dramatically reduces claim denials, prevents errors, and ultimately condenses revenue cycle time. The system also sends alerts to the provider when a patient’s insurance status changes, so that claims can be processed correctly.
3.) Electronic Remittance Advice
athenaCollector® offers Electronic Remittance Advice (ERA), which provides an accurate and efficient way to communicate insurance payments and explanations of benefits (EOBs) electronically. This feature eliminates the need for paper-based communication between payers, providers, and clearinghouses, thereby drastically reducing claim denials. Also, this feature eliminates the time-consuming task of manually reconciling accounts and provides real-time updates on payment statuses.
4.) Claim Scrubbing
Claim scrubbing is an integral part of athenaCollector®, which ensures that errors are detected and corrected before submitting the claim. This feature eliminates the potential of submitting incorrect claims, which can lead to rejections or denials. athenaCollector® automatically scrubs claims by applying industry-standard rules, ensuring that claims are free from errors.
5.) Reporting and Analytics
Reporting and analytics are essential tools for providers to monitor their financial performance. athenaCollector® offers customizable reporting and analytics for analyzing performance metrics, such as claims processed, denials, and revenue cycle time. This feature allows providers to identify trends or issues and take corrective action in real-time. Reports generated by the system can be accessed through a secure online portal, allowing 24/7 visibility into the practice’s financial status.
athenaCollector® Revenue Cycle Management
AthenaOne®’s RCM solution helps providers better manage their financial performance and minimize revenue leakage. The solution tracks each stage of the revenue cycle, from patient eligibility to payment processing, ensuring that healthcare providers are fully reimbursed for their services. The solution also provides real-time reports and data analytics that enable providers to make informed decisions about their business operations.
Claims Management
Claims management can be a challenging aspect of RCM, but athenaOne® has simplified the process. One of the key features of the platform is its advanced claims processing technologies. This platform incorporates a range of claim scrubbing and editing technologies that help healthcare providers reduce errors and achieve higher acceptance rates for their claims.
For example, the platform can automatically detect common billing errors such as mismatched diagnosis and procedure codes, or discrepancies between insurance policy information and patient demographic data. By detecting and resolving these errors early in the claims process, athenaCollector® can improve cash flow and help healthcare providers by reducing payment delays.
Automated Eligibility Verification
Another valuable feature of the athenaOne® billing platform is its automated eligibility verification capabilities. It can automatically verify patient eligibility and insurance coverage prior to rendering services, helping healthcare providers avoid billing inaccuracies and payment denials. Also, it automatically identifies patients who do not have insurance coverage and provides alerts and reminders to providers, helping ensure billing processes are not overlooked.
Robust Reporting and Analytics Capabilities
athenaCollector® also includes a range of robust reporting and analytics capabilities that can help healthcare providers gain valuable insights into their billing operations. The system includes a range of customizable dashboards and reports, which help providers track key performance metrics such as reimbursement rates, claims acceptance rates, and revenue cycle times. Additionally, athenaCollector® incorporates cutting-edge data visualization tools that help providers quickly identify trends, anomalies, and potential areas for improvement.
Seamless Integration with Other athenaOne® Products
The athenaOne® billing platform is designed to seamlessly integrate with other applications, including the athenaCommunicator patient engagement portal and mobile app, as well as a number of other industry-leading healthcare technologies. By leveraging this integration with other products, healthcare providers can build a truly comprehensive technology ecosystem that supports all aspects of their patient care and billing operations.
Customizable Patient Payment Options
Patients are the lifeblood of any medical practice, and as healthcare consumers, they expect their needs to be prioritized. athenaCollector® provides several payment options for patients, including mobile check-ins, online payment processing, and mailed invoices. By customizing payment options to fit every patient’s preference, the process of collecting patient payments is streamlined and straightforward.
Convenient Online Patient Portal
athenaCollector® is designed with patient convenience in mind. One of its most popular features is the ability to access and manage medical bills online. Patients can view their account balances, make payments, and even set up payment plans all from within the portal. This streamlined approach to patient billing saves time for patients, encourages timely payments, and decreases the need for expensive collections processes.
Customizable Payment Plans
Another valuable feature of athenaCollector® is its ability to create customizable payment plans. Providers can set up payment plans that are tailored to individual patient needs and financial situations. This means that patients can make payments within their budget to avoid the burden of large lump-sum payments. The ability to customize payment plans also enhances the patient experience, as the provider is able to demonstrate their willingness to ease financial stress for the patient.
Variety of Payment Options
athenaCollector® also offers a variety of payment options to further increase patient convenience. Patients can make payments via credit card, debit card, or electronic check. They can also choose to enroll in convenient and hassle-free automatic payments, which ensures that their medical bills are paid on time each month. The variety of payment options offered by AthenaOne® caters to patients in diverse financial situations and provides greater flexibility in terms of payment methods.
Provider Tracking Tools
In addition to these patient-focused features, athenaCollector® also has tools for providers to manage their patient payment options. Healthcare providers can track patient balances, payment history, and payment plan progress all within the portal. This visibility into patient payment information allows providers to keep track of outstanding invoices and take action when necessary. This tool can also generate financial reports, which provides users with an overall view of their practice’s financial health.
Compliant Coding
athenaCollector® comes with built-in coding regulations that ensure compliance with both local and national regulations. It is also equipped with the Intelligent Coding Assistant, which provides suggestions based on clinical documentation. By eliminating coding errors that often lead to denied claims, healthcare organizations can save money and increase revenue. Additional features include-
- Up-to-date coding libraries — First and foremost, one of the most notable features of athenaOne®’s coding platforms is their access to regularly updated coding libraries. These libraries contain all the current codes and terminology specific to your specialty, so you can ensure your billing efforts are always accurate and compliant.
- Customizable compliance rules — Different practices have different compliance needs — that is why the athenaOne® billing platform is highly customizable, allowing you to set your own unique compliance rules. You can easily configure your billing workflows to ensure that every claim is compliant before it is even submitted.
- Real-time feedback — One of the most frustrating aspects of medical billing is the lack of visibility into what is happening behind the scenes. But with athenaCollector®’s real-time feedback features, you will get updates and alerts whenever there are issues with claims — so you can proactively address any errors or problems before they become headaches.
- Automated charge capture — Keeping track of every charge and billing code can be a daunting task — but athenaCollector®’s automated charge capture features can help streamline the process. You can configure the platform to automatically capture all charges associated with each patient visit, so there is less room for human error.
- Fully integrated clearinghouse — Finally, the billing platform includes an integrated clearinghouse that can help ensure all your claims are submitted accurately and efficiently. With this feature, you can easily check the status of your claims and receive electronic remittance advice (ERA) to help reconcile payments.
Real-time Financial Analytics
athenaOne® offers robust analytic features that provide real-time insights into a healthcare organization’s financial health. The software includes revenue cycle metrics, benchmarking reports, and customized dashboard views, enabling healthcare organizations to evaluate their financial health and make informed decisions on RCM.
Automated Financial Analysis
This feature is especially useful for businesses that need to quickly process large amounts of data. With athenaCollector®, you can perform automated financial analysis on revenue recognition, expenses, cash flow, and other financial metrics. This helps you make informed decisions and react quickly to changing market conditions.
Customizable Dashboards
Another key feature of athenaCollector® is customizable dashboards that provide a real-time view of your financial data. You can design your dashboards to include the metrics that matter most to your business. This allows you to monitor your financial performance and identify trends that could impact your business. Customizable dashboards also can help you streamline your workflows by displaying all the relevant information in one place.
Forecasting and Budgeting
With athenaCollector®, you can also perform forecasting and budgeting with ease. You can create accurate budgets and forecasts that help you plan your financial future. The software allows you to create what-if scenarios to see what would happen if your business faced certain challenges. This feature is especially useful for businesses that operate in industries that are prone to sudden changes in the market.
Data Security and Compliance in athenaOne®
athenaOne®’s HIPAA-compliant athenaCollector® ensures that healthcare providers maintain the highest level of data security and patient privacy. The solution also provides access controls and data backups, ensuring business continuity even in the event of a system outage or natural disaster and includes:
Robust security features — athenaOne® has implemented a range of safeguards to protect sensitive financial data, such as User access restrictions, data encryption, password policies, and enhanced firewall protection. The security features can significantly minimize the risk of data breaches, which can have detrimental effects on a business’s finances.
Reports generation — Reporting is integral to financial compliance as it helps businesses to analyze their financial data in real-time. athenaCollector® provides a range of standard reports, including income statements, trial balances, and balance sheets, which can be exported in a variety of formats, including PDF, Excel, and CSV. This ensures that businesses can generate accurate, timely, and transparent reports to comply with regulatory requirements.
Inbuilt audit trails — One of the key components of financial compliance is maintaining detailed audit trails. AthenaOne® helps you stay compliant by automatically logging all actions taken in the system, such as user logins, system modifications or account activities. This feature enables businesses to trace every activity in the system, providing an accurate record of financial data.
Collaboration tools — The solution improves team collaboration by providing tools that automate, streamline, and standardize financial processes. This feature allows team members to work together seamlessly, ensuring transparency and accuracy across the entire financial system. Additionally, it enforces the separation of duties, in which different team members can have different access levels and responsibilities based on their role.
Compliant billing and collections — athenaCollector® simplifies the process and helps to prevent compliance-related issues that can crop up due to incorrect billing. For instance, it helps you prepare invoices that meet all regulatory requirements, while also making it easy to document your accounts notes. Finally, the system allows you to follow up on unpaid bills quickly, all while maintaining compliance.
Summary: The athenaOne® Billing Solution
With athenaOne®’s complete billing solution, healthcare providers can successfully manage their business operations and provide better quality care to their patients. Its comprehensive billing, revenue cycle management, and patient scheduling features streamline processes and promote efficiency, freeing up staff time and reducing errors. Overall, athenaOne®’s billing and RCM platform offers a valuable suite of tools for healthcare providers looking to enhance their offering and improve their operations.
Improve Your Healthcare Operations with athenaOne® Billing Solutions
If you find your billing system is holding you back from achieving your organization’s goals, our experts can help. Our consultants focus on efficiency, best practices in RCM, and maximizing revenue. Let us know if you would like to learn more about how athenaCollector® can make your billing operations more efficient.
