The healthcare sector is in a state of constant flux and institutions are under tremendous pressure to deliver high-quality patient results while also maintaining desired profit margins. They have to balance these requirements while adhering to a growing array of regulatory specifications and other dynamic forces. In this scenario, maintaining financial stability is a challenging but essential task.
Hospitals and healthcare systems are recognized for treating patients and saving lives but every healthcare organization also has an obligation to remain financially viable. Healthcare revenue cycle management plays a crucial role here.
Healthcare revenue cycle management is the financial process that facilities use to control and oversee administrative and clinical functions connected with processing claims, cyclic payments, and income generation. The process includes the identification, management, and collection of patient service revenue.
CereSoft’s Revenue Cycle Transformation works with healthcare providers to help them recognize ways to boost their net income, accelerate cash flow, and decrease costs by addressing people, process, and technology components across the revenue cycle spectrum.
Thought Leadership in Healthcare and Technology
CereSoft is a technology pioneer and forward-thinking company based in Silver Spring, Maryland. It was founded in 1994 and today has over 200 employees worldwide. CereSoft can handle the revenue cycle needs of both large hospital systems and physician networks.
For over 20 years now, the company has been creating feature-rich, real-time digital exchanges with its clients in the healthcare industry, while demonstrating thought leadership in both healthcare and technology services throughout the United States.
CereSoft’s one-stop solution for healthcare revenue cycle management is spearheaded by its flagship product and web portal, MedAR. MedAR allows users to handle correspondence, financial analysis, denials, underpayments, refunds, dependent claims, reassociations, and other critical online functions within a single system.
MedAR provides complete revenue cycle transformation for medical practices as well. Its financial management On-line Navigation System reduces the time required to process manual posting to billing systems, denial processing days, manual keying of transactions, and the time required to balance.
It also allows the provider to view any electronic document with a single touch.
CereSoft’s great references, functionality, and ability to complete the paper conversion to EDI processing in less than 24 hours helps clients improve their revenue management and move forward on their innovative journey with notable speed. CereSoft provides claims presentment to the payer gateway and accepts both ERAs and Paper EOBs for processing.
The company matches and balances that information with ACH/EFT payments and paper checks. CereSoft’s online portal processes both co-pays and patient pays as they are integrated into the CereSoft Desktop Navigation System. The company provides a SingleTOUCH Methodology under a SingleVIEW.
A Single View Portal with Touch and Feel Design
CereSoft is constantly seeking true partnerships. More than 80% of its portal is connected with its users, and the touch-and-feel architecture of the platform is a result of their valuable feedback.
Clients expect a ‘Single View’ platform that can handle both paper and electronic formats, as well as structured and un-structured data in a single application. CereSoft offers a true virtual work desk where every employee has access to a Single View of all financial transactions.
The integration of all fragmented components and document types in one platform allows clients to search, retrieve and view all data and file sources on a single system. This leads to performance characterized by high speed, accuracy, reliability and efficiency.
CereSoft has the finest sales and marketing organization in the country that are not sales-based people; they are consultants that provide problem solving techniques to all their customers and business partners.
Visionary Leadership in an Evolving Industry
Dr. Hsing-Hen Chen is President, Founder and CEO of CereSoft. Dr. Chen has an unusual background for this industry. He has been a fulltime professor in Physics at the University of Maryland for the past 40 years, and started off as an expert in non-linear complex systems that include neural networks, and deep learning AI systems in particular. This unique background led him into the business document and process renovation field. Dr. Chen envisioned automating the healthcare RCM process to integrate claim submissions, payment adjustments, cash posting and other necessary business workflows.
He developed an intelligent process to capture business data from structured, semi-structured and even fully un-structured documents, including databases, electronic files, business forms and paper correspondence.
Dr. Chen’s visionary leadership has positioned CereSoft as the company to watch in this fast-evolving industry.
Cutting-Edge Technology and Innovation
The CereSoft system is field-proven across both large- and small-scale implementations and it has shown that it is capable of meeting special requirements and adapting to customized business rules.
CereSoft is committed to integrating leading edge technology and innovative payment methods into its flagship Payment Central Platform, which includes features like checks, mobile pay with image recognition technology, document understanding and artificial intelligence.
The company envisions employing robotic process tools and block chain technology to enhance the security and efficiency of its intelligent system.