New reCover™ Solution Enables IHS Hospitals to Increase Revenue
Claim recovery service from Databound Healthcare Solutions™ locates unclaimed revenues which can be applied to improving quality of care
ITHACA, N.Y., Dec. 7, 2015 /PRNewswire/ -- Databound Healthcare Solutions announced today the availability of reCover, a fully-managed claim recovery solution that enables Indian Health Services (IHS) hospitals to find additional insurance payers and see higher returns.
Databound's reCover is a fully-managed service that utilizes a list of hospital patient encounters to find new or previously unknown eligibility information from private payers. reCover searches tens of thousands of records or more across numerous potential payers and returns eligibility information to the hospital so that billing staff can act on accounts that need follow-up and update their system for re-billing. After the information is updated, future charges can be billed correctly the first time using the updated payer information, helping to reduce accounts receivable going forward.
"At Databound, we recognize the unique challenges that IHS hospitals face in recovering unclaimed revenues," said Eric de Jager, Vice President, Databound Healthcare Solutions. "Our reCover solution enables these hospitals to recover unclaimed revenue that can be used to reduce dependency on IHS funding, and in some cases provide specialist care to more patients. The end result really is an increase in viability of IHS hospitals and the services they can provide their patients."
Last year using the reCover service, one IHS hospital received almost $13 million in private-payer payments that they otherwise would not have billed.
To learn more about the reCover solution, visit Databound Healthcare Solutions December 6-9, 2015 in booth #501 at the Institute for Healthcare Improvement (IHI) National Forum on Quality Improvement in Health Care conference in Orlando, Florida, or visit our website at www.DataboundHealthCare.com.
Since 1999, Databound Healthcare Solutions has combined technology and great customer service to help hundreds of hospitals throughout the United States improve efficiency by automating revenue cycle processes. This saves hospitals time and money, and gives them the information needed to recover millions of dollars of claims at a higher return rate.
Databound™ provides solutions built on Cerner's Soarian®, Millennum®, Invision®, Signature®, and Med Series4® electronic medical record software.
Name and title: Brian Cheek, Director, Customer Experience
Phone: 607-257-5433 x762
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SOURCE Databound Healthcare Solutions