Prochant Revolutionizes Infusion Pharmacy Intake Financial Processes with the Latest Enhancement to Prochant Pulse
CHARLOTTE, N.C., June 19, 2024 /PRNewswire/ — Prochant, the leader in home-based care revenue cycle solutions, is enhancing its innovative workflow and analytics platform, Prochant Pulse, with a new Financial Intake Workflow to improve eligibility verification and prior authorization for infusion pharmacies. This latest enhancement to Prochant Pulse underscores Prochant’s commitment to technological innovation and delivering superior solutions for its clients.
The healthcare industry is increasingly competitive, with providers facing labor shortages, insufficient staff training and shrinking margins due to rising labor costs. These providers need help streamlining processes to facilitate faster and more accurate payments. Consequently, revenue cycle management (RCM) has become crucial, with many healthcare leaders dissatisfied with their current RCM strategies due to high accounts receivable balances and excessive write-offs. To address these challenges, many healthcare providers are outsourcing RCM functions to third-party vendors like Prochant. Prochant Pulse’s streamlined processes not only facilitate a smoother intake process but also enhance both the patient and provider experience by reducing delays.
In infusion services, financial intake processes are often slow and fragmented, relying on generic communication tools and spreadsheets, leading to delays and inefficiencies that affect timely payments and performance auditing. As the cost of infusion treatments is extremely high, this can lead to significant revenue losses. Therefore, in an industry that is estimated to have an annual growth rate of 26% over the last four years – more than double the growth rate of other healthcare sectors – infusion providers are looking for a solution to quickly remediate their financial intake challenges.
With 25 years of experience in home-based care and as specialists in the infusion sector, Prochant has been honing technologically driven solutions to solve critical issues plaguing the industry. Prochant is now introducing its Financial Intake Workflow enhancement to Prochant Pulse to address these issues by streamlining financial intake processes, reducing turnaround time (TAT), ensuring efficient prior authorization, customizing form flows and increasing visibility and accuracy. Key outcomes for clients include cutting eligibility verification time to less than 60 minutes, submitting prior authorizations within 24 hours of eligibility verification, ensuring payments and providing comprehensive visibility for accurate performance auditing.
“We recognized the critical need for a solution that assures timely and high-quality completions of benefits verifications and prior authorizations in the infusion pharmacy sector. The Financial Intake Workflow addresses this need by providing a seamless, efficient process within Prochant Pulse, empowering our clients to enhance their revenue cycle management and achieve greater operational efficiency,” said Matt Pretzer, M.D., chief product officer.
“Our commitment to innovation and excellence drives us,” said Prochant CEO Mathew Mammen. “The new Financial Intake Workflow in Prochant Pulse is a testament to our dedication to optimizing processes for infusion pharmacies, ensuring they receive timely payments and accurate performance auditing. This enhancement provides our clients the tools they need for financial stability and success.”
To schedule a demo, visit prochant.com or email marketing@prochant.com.
ABOUT PROCHANT
Established in 1999, Prochant delivers focused revenue cycle management (RCM) solutions to healthcare providers for the home-based care industry. Our expertise lies in providing end-to-end RCM for home-based care, HME, infusion services, specialty pharmacies and home health and hospice, consistently delivering exceptional results to some of the leading healthcare providers in the country. We combine innovative technology in workflow and analytics and deep industry knowledge to streamline the time-consuming and expensive reimbursement process. As a result, we help healthcare providers accelerate their collections, increase revenue and reduce operational costs while managing risk.
Contact
Greg Krantz
VP of Marketing
+1 (888) 349-9015
Marketing@prochant.com
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