As the nation’s leading technology-driven healthcare reimbursement firm, Prochant talks weekly with HME and pharmacy providers about our revenue cycle solutions. Whether you are struggling with hiring, training, or rising labor rates, many providers are turning to outsourcing. To help providers, we’ve answered the most commonly asked questions our revenue cycle management experts receive from prospective clients. Questions range from our current processes to future AI and machine learning implementation.
What systems does Prochant use?
We pride ourselves in being system agnostic, it’s one of our key business strategies and differentiators. Currently, Prochant primarily works with the following pharmacy & HME billing systems. In our Pharmacy division, we utilize CareTend and CPR+, which are both WellSky systems, plus WeInfuse, and Brightree. In our HME division, we utilize Brightree, TIMS, HDMS, Fastrack, and Bonafide. However, when it comes down to it, we're prepared and open to new systems at a client’s request, as well as learn proprietary systems. We've encountered countless competitors who have refused to stray from their current systems, and this decision ends up hurting all parties involved.
We believe an ideal reimbursement partner should be flexible and accommodating, especially if doing so increases our client's probability of succeeding. Prochant takes pride in being an RCM company that allows our partners to be as nimble and agile as possible. If you’re our client and you decide to switch billing systems, we’re your true partner in that we’re along for the ride right alongside you!
How quickly can Prochant turn around my revenue cycle?
Typically it takes us 60 days to go live with our services. Before going live, we need to ensure all components contain the proper process mapping and that they match standard operating procedures. That allows us to move forward with a soft launch based on those procedures. Then we enter a period where we evaluate the processes we implemented to check that everything is functioning correctly without any gaps. Once we complete the gap analysis and make the necessary adjustments, then we can go live.
However, the duration of time it takes to launch your system with our implementations is influenced by its initial condition. A provider with an under par system will have a longer launch turnaround time than one in a more favorable position.
How does Prochant plan on utilizing Automation, AI, and machine learning in the future?
Prochant plans on leveraging automation, coupled with artificial intelligence and machine learning, to handle more menial tasks, so our human staff can concentrate on more complex assignments. From a data standpoint, we’re already utilizing AI and machine learning for things like payment and denial prediction, EOB and ERN extraction, and CMN recognition. This transition allows our human staff to focus their efforts toward more intricate and costly tasks.
Is my company a good fit for Prochant?
Size is usually the lead identifier of whether or not a company is a good fit. Traditionally, prospective clients have annual revenue somewhere north of $4 to $5 million.
Leveraging a reimbursement service partnership to handle some of your revenue cycle management is by no means a “set it and forget it” endeavor. In fact, one of the leading indicators to success is the client’s active, daily participation and engagement with the reimbursement teams.
A provider who is not actively engaged in reimbursement success is the other characteristic we would use to classify a business as not being an ideal candidate for Prochant. It's difficult to hit our benchmarks if we can't rely on each other to do our parts. If a provider, for example, isn't diligent about updating data on their end, such as timely cash posting, it makes it impossible for us to do our job. We want to provide a 34 DSO and a 9% 90+ A/R, along with help you reach all your financial goals.
Interested in finding out more on how Prochant can help your pharmacy or HME business maximize its financial potential? Start the conversation today to learn more and get the most out of your business.
Prochant has a proven track record of helping pharmacy and HME providers meet their financial goals. Our scalable solutions, years of experience, and advanced technology provide best-in-class results to the healthcare community. Headquartered in Charlotte, North Carolina, our client base includes national pharmacy and HME providers and health systems.