Healthcare providers feel pain from inefficiencies in their revenue cycle management

Aug. 7, 2012 - PRLog -- St. Paul, Minnesota — Throughout the healthcare industry, providers are losing a large amount of potential time and money due to inefficiencies in their revenue management cycle. In order to reduce the loss in resources, integration and automation of key business and administrative functions is necessary. Integration and automation will ensure that providers are receiving full payments quickly. Providers’ specific processes may vary but all are looking for an easy-to-use solution that performs the necessary integration and automation while ensuring complete compliance.

Smart Data Stream Clearinghouse provides an excellent example of a solution for providing increased efficiency and automation in providers’ revenue cycle. Specifically Smart Data Stream develops a customized portal that allows for the submission of all claims via a single secure submission gateway. Providers are able to populate only the necessary fields for each specific payer and easily make any changes necessary.

“At Smart Data Stream we understand that revenue management is a complex and individualize process. We therefore work with providers to create a custom solution that will best meet their individualized needs,” Mark Fogarty, Smart Data Stream’s EDI Business Development Manager, explains. “We are able to reduce our providers’ revenue cycles to 2-3 days, resulting in them getting paid in about half the time.”

The Smart Data Stream solution addresses the pain being felt by providers by creating an electronic environment to monitor the entire revenue cycle ensuring that no claim is lost, creating direct connections between providers and payers, and automating the parsing of insured information to be sure that the coverage payment is correct. The efficiency in the provider revenue cycle creates a predictable revenue stream for the provider.

“Our mission at Smart Data Stream is to make the healthcare market more efficient by leveraging technology to provide effective, high-quality processing solutions supported by an unparalleled level of customization and personalized service,” Pat Bollom, co-founder of Smart Data Stream, adds. “We bring a comprehensive set of tools and processes to every opportunity, which we carefully configure to the individual needs of each customer.”

Smart Data Stream is an EDI clearinghouse providing an automated real-time, easy-to-use portal interface that allows providers to directly submit claims through our vast and continually growing network. Smart Data Stream ensures claims are paid faster through our electronic claims submission portal that will save your organization time and money. Smart Data Stream provides customized packages with flexible pricing that include an unparalleled level of 24/7 support from a dedicated developer. In addition, we provide extensive reporting and claim tracking features which are supported by Smart Data Solutions, an eleven-year-old front-end claims management processor providing automated integration of mailroom, data capture, data editing, and real-time reporting. For more information on Smart Data Stream you can visit the company’s site at http://www.smartdatastream.us, or contact Pat Bollom by phone at 651.690.3140 or by email at pbollom@sdata.us.