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Promantra: Optimizing Revenue Cycle through LTC-RCM
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Al Lechner, SVP for Sales and Marketing, Promantra
Recently, in CHIME/HIMSS CIO Forum, a healthcare event, it was stated that the two biggest challenges in the healthcare solution today are HIPAA Security and Interoperability. “When it comes to RCM, these two issues are addressed through Promantra’s unique security measures approach and IT Services,” begins Al Lechner, SVP for Sales and Marketing. The New Jersey-based Promantra, a healthcare-IT software development company, confers free proprietary software for Long Term Care (LTC), with the use of its RCM Billing Solutions, back office support and IT Service for all healthcare verticals. With his Revenue Cycle Management (RCM) expertise, Lechner assisted senior care facilities, billing hospitals and physician office clients of Promantra, by providing quality care technology while focusing on revenue process improvement for LTC organizations. “Promantra works with a variety of healthcare software tools that ensure our processes and decisions are efficient and accurate,” defines Lechner.
As cost optimization is gaining prominence, many healthcare entities find outsourcing functions such as coding and billing to be an effective answer to lower the cost during revenue collections. “Recently, the new outsourcing specific revenue functions, specifically in the hospital business office, has ramped up due to the increased pressure to collect payment and improve the revenue cycle health,” delineates Lechner. To reduce the pressure, the company’s RCM services accelerate the clients’ revenue cycle, which increases productivity, speed payments, decreases costs, and enhances the patient service. “Promantra's comprehensive end-to-end RCM Billing services help augment and streamline compliance while saving money,” adds Lechner.
Promantra's comprehensive end-to-end RCM Billing services help augment and streamline compliance while saving money
“Our RCM solutions focus toward optimizing cash flow and increase reimbursements through proprietary processes that have been developed internally,” delineates Lechner. Promantra also delivers LTC-RCM services for LTC Platform GeroPro designed specifically for LTC organizations. GeroPro, Promantra’s healthcare information suite confederates with applications to actualize financial and clinical needs of Long Term Care facilities. The LTC-RCM billing service monitors billing collections and provides systematic resident estimates of the organization.
“While implementing the software, Promantra assists its client’s teams with gratis customization to ensure the customers’ requirement instead of offering an off the shelf solution,” defines Lechner. For instance, one of Promantra’s clients had more than ten healthcare facilities in California. To complete the work in the billing section, the client took 24 hours due to the poor quality of work. By executing RCM services, Promantra reduced the working time of the client and enhanced their revenue cycle process. Promantra’s managing team assisted the client in implementing RCM solution in Medical Billing and increased their autoregressive (AR) processing days from 34 to 23 days within six months. “The client also amplified the revenue collection from 53 percent to 61 percent in the same period of time,” adds Lechner.
Promantra’s key formula is delivering solutions to clients with process and technology combination. “Our company’s strategy is innovating solutions focusing on the future requirements in the RCM technology,” explains Lechner. The company plans to continue the investment in expanding their regional office to support the service levels and needs as their business grows. Currently, Promantra is working on enhancing their Long Term Care Platform GeroPro to a next level by introducing tablet/Mobile friendly UI and enabling checks and balances to improve financial performance of a healthcare facility. “As mobile technology is becoming prominent, Promantra plans to design Mobile Health (M-health),” concludes Lechner.