Contract Management
ClearContracts™ for Financial Institutions
ClearContracts’ specialized collection workflow technology enables a bank and its healthcare clients to accelerate payer collections, identify real payment variances, and improve cash flow and revenue. Arm your bank and customers with the tools and skills necessary to effectively negotiate profitable contracts, streamline contract interpretation and compliance, and collect what’s rightfully owed from payer relationships.
Web-based Contract Management for Hospitals and Professional Groups
ClearContracts™ for hospitals and ClearContracts™ Pro (for Professional Groups) are web-based revenue management solutions designed to help your organization accurately forecast, calculate, and capture net revenue contractually owed.
Easy-to-use ClearContracts and ClearContracts Pro, through a sophisticated calculation engine, will allow you to:
- Accurately calculate expected payments
- Identify underpayments
- Model and forecast contractual revenue
- Manage complex contracts
- Ensure compliance in financial reporting
The ClearContracts calculation engine applies expected payment rules to detailed charge codes, diagnoses, procedure codes, revenue codes, and patient demographic data in order to determine what should be paid on each patient account.
ClearContracts helps you manage contract inventories, leverage historical data in contract negotiations, and simplify the reimbursement process.
Recovery Module
The ClearContracts module blends intelligence with workflow technology to decrease labor associated with follow-up and the collection of funds owed. The data repository consolidates all available information regarding individual patient claims, from electronic information to scanned images of paper documents through EOB Pro. The recovery module also provides management oversight of the collection process and results, and includes a reporting tool that identifies collection issues and uncovers patterns and trends.
Strengthen Negotiation Position with Payers
You can strengthen your negotiation position with payers using historical patient data within the database to easily see the impact that changing volume, cost, rate, or charges will have on contract profitability. By creating "what if" scenarios using contract data as a baseline, you can easily forecast gross revenue, contractual allowance, net revenue, total cost, and profitability of proposed payer contracts.
Why ClearContracts?
Unlike hospital information and practice management systems that cannot process complex contract terms, model contracts, and identify and track payment errors, ClearContracts allows you to analyze every single claim flowing through your system. This includes: carve outs, high cost drugs, stop-loss, and a large variety of other payment methods.
ClearContracts integrates seamlessly with existing patient accounting systems and is designed to meet the unique financial needs of almost any size healthcare organization.
As web-based solutions, ClearContracts for hospitals and ClearContracts Pro require no software installation and provide continuous product upgrades.
Contact us today to learn how our web-based revenue management solutions can improve your financial performance. Or if you’d like to explore the product in more detail, please visit Concuity, our healthcare division.