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| Healthcare IT and Biotechnology News Release |
| News Home :: Healthcare IT and Biotechnology News Releases :: More News Releases on this day |
| Date of Publication: Wednesday, January 23, 2008 |
HTP RevRunner® 3.5 to Help Hospitals Collect Payments Quickly, Accurately |
| Integrated software enables hospitals to estimate costs, assess patient fiscal health, recommend and collect payments to maximize revenue. |
Columbus, Ohio -- HTP, Inc. (www.htp-inc.com) announced today the release of HTP RevRunner® 3.5, a software suite that enables hospitals to simplify and enhance management of the revenue cycle. With HTP RevRunner 3.5, hospital staff can accurately estimate a patient’s costs, determine propensity to pay, determine payment options and collect payment all prior to or at the time of service.
HTP RevRunner 3.5 takes the mystery out of billing for hospitals and patients alike because it uses the most current benefit information as provided by each patient’s specific insurance profile. This allows hospitals and patients to understand patient payment responsibilities immediately, rather than 30-45 days later, as is the case with most current technology.
“HTP RevRunner 3.5 enables hospitals to maximize the potential to collect payments quickly and accurately,” said HTP President and CEO Ray Shealy. “Our customers benefit from a streamlined payment process that eliminates guesswork and empowers them to either collect appropriate payments from patients or initiate financial assistance procedures.”
With its easy-to-use, web-based interface, HTP RevRunner takes hospital staff through four important processes all through one integrated workflow.
1. Creation of a credible estimate that takes into consideration payer allowable amounts, previous balances, cost of services and procedures, and relevant discounts.
2. Clear assessment of patient’s ability to pay based on patient fiscal situation and hospital policy.
3. Recommend appropriate payment plan or accurately classify the patient as charity care by reviewing all potential payment sources.
4. Collect payment at time of service through an integrated e-cashiering feature that recognizes and applies credit card or electronic ACH transactions.
As with previous versions, HTP RevRunner 3.5 boasts HTP’s robust, flat-fee eligibility and identity verification module to ensure that claims are submitted accurately and increases the ability to collect payments. The suite forms a complete, integrated solution for automating the revenue cycle in order to increase revenue, minimize bad debt, improve patient satisfaction and meet charity missions.
HTP RevRunner 3.5 works with a hospital’s existing technology investments, using their current staff and requiring nominal IT support and training.
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