Healthcare Revenue Cycle Management

Speed reimbursement by automating financial processes

Compassionate health professionals strive to put patients first, but your hospital must also maintain a sound revenue cycle to ensure the unfailing delivery of patient care resources. Lexmark Healthcare solutions for revenue cycle management enable your organization to pursue operational excellence by eliminating costly manual processes and handoffs associated with patient admistration and billing. With Lexmark Healthcare, all insurance identification, admission forms, historical health information, as well as treatments and procedures, can be captured during the First Mile™ of patient interaction.

Once captured, that data is automatically transformed into actionable information ready for coding and submission for reimbursement. Information is then routed to the right people, processes and backend systems — enabling organizations to become more efficient while significantly reducing costs. By eliminating paper-based information, hospitals can improve productivity, eliminate lost billing opportunities, and enable better visibility into patient billing, regardless of where it is in the revenue cycle.

Want to learn more?

If you’re ready to know what Lexmark Healthcare can do for your enterprise, contact us now. 

Increase Accuracy of Patient Billing

Lexmark solutions accelerate revenue cycle management by combining a variety of technologies designed to automate labor-intensive areas of treatment and care documentation, transcription, coding, billing and reconciliation. By adopting these cost-effective and time-saving technologies, hospitals can capture billing information in real-time to increase the number of “clean bills” while reducing the number of denied insurance claims.

Facilitate Process Workflow

By efficiently managing the process and allowing billing information to be captured, regardless of where it originates, hospitals can automatically assemble a complete file of billable services. This reduces the amount of time and effort required to manually gather, organize, transcribe and code all of the information associated with a patient’s hospital stay or emergency room visit.

Scale to Match Census

Lexmark capabilities allow for scalability to match hospital census peaks and valleys or planned growth without hiring additional staff. It is also instrumental in accelerating the Explanation of Benefits (EOB) process to improve recognition of revenue.

Move Beyond Patient Billing

By using Lexmark solutions, healthcare providers can go beyond patient billing to capture, manage and process admission documents; inquiries from patients, insurers or suppliers; charts; lab reports; invoices; contracts, etc. This enables them to provide better service while reducing operating costs.

Increase Processing Efficiency

Reduce collecting, sorting and manual paper handling by automatically capturing and extracting data to help increase processing efficiency, data accuracy and information availability.

Consolidate Billing Information

Integrate siloes of information to capture billing and financial information—including accounts payable and invoice processing—from anywhere, while integrating with HIS/EHR systems.

Access Information in Real-Time

Provide real-time access to all patient billing information from registration through discharge to enhance efficiency and provide a better patient experience.

Reduce Labor Costs

Speed processing and reduce labor costs by capturing critical data and documents required to validate information for revenue cycle management.

Streamline Financial Processes

From accounts payable and invoice processing to purchase order matching to inventory management and more, our sophisticated yet easy-to-use document management solutions streamline workflows throughout your hospital’s finance department.

Strengthen Human Resource Functions

Back-office automation strategies can quicken and simplify HR processes—recruitment, onboarding, employee management and credentialing—to consistently and securely centralize HR documents.

Improve Revenue Generation

Speed reimbursements by creating “clean bills” the first time out while reducing the number of denied insurance claims.

Related content