SERVICES

The struggle between payers and providers over compensation continues to escalate as payers apply more and more resources toward reducing their reimbursements. Often it may seem as if these payers are really just in the medical billing claims denial business. Most providers simply do not have the resources, focus or expertise to fight this escalating battle.

The result is that providers usually have large sums tied up in ageing accounts receivable and unacceptably high write-offs, and thus compensation far below what is expected - and deserved. Many providers are forced to deal with the minutiae of their business rather than the big picture, since they do not have the tools to manage their business, make informed decisions or set strategy.

Cobalt Health exists to help you improve your financial performance and provide you with the tools and insights to achieve your business objectives with effective medical billing management and electronic claims submission. Successful businesses leverage systems and data to set strategy, improve processes, determine which customers to target, and increase revenues and profits. Healthcare providers should be no different, and Cobalt Health's services are geared to do just that - help you improve your business.

Complete Revenue Cycle Management

Cobalt Health offers a comprehensive revenue cycle management solution to improve your financial health and allow you to focus on clinical care and managing your business.

• We provide end-to-end management including electronic insurance verification, coding, electronic claim submission, payment posting, denial management, and collections
• Delays are minimized and AR days reduced as we scrub claims before they're submitted, and then aggressively track, manage, and follow up immediately on all denials
• At your election, we will direct deposit funds into your account to ensure you get paid as quickly as possible
• We manage all patient billing including printing and mailing all patient statements and follow-up statements, and we handle all patient questions and calls
• Cobalt Health can also provide consultative services including credentialing, reviewing and negotiating insurance contracts, and developing and optimizing superbills
• And we continuously track your net collection rate (the actual payment vs. the contracted rate) to ensure you are getting your fair share

Better Financial Results

Cobalt Health will improve your net collection rate and your average collection per charge, which translates to more money in your pocket every day, year in, year out. We will also reduce your accounts receivable days outstanding, which means less of your money is tied up and being used by payers to generate investment returns for their stockholders.

Regain Control of Your Business

Cobalt Health helps you unlock the insights and intelligence within your own data to help you run your business better. We offer complete reporting solutions, including customized and on-demand reporting. Want real-time access to your data? Itemization and drill-down capability on an individual claim or adjustment? Cobalt Health offers this on any claim, any time. Plus we'll be right there with you, analyzing your data and helping draw the conclusions required to continually improve your business.

How Does Cobalt Health Do It?

Integrated systems and processes are the key. We are passionate about processes, because we know that a well-managed process prevents errors and maximizes the output. Most labor-intensive tasks can be systematized, which results in greater performance and translates into more money for you more rapidly. Billing errors are caught and corrected before they become problems. We catch incorrect codes, data-entry mistakes, and missing information to avoid costly delays, denials, and resubmissions.

Leave the Technology to Us

Avoid technology headaches, the risk of obsolescence, and the heavy costs of servers, storage, networks, upgrades, service and support. Cobalt Health will manage all of this for you, as we stay abreast of the latest technologies to ensure you get the best solutions. We offer front-office software for scheduling, patient registration and verification, or we interface with most major practice management systems. If you are interested in a clinical solution, we also offer an EMR system that is completely integrated and seamless with our practice management and billing software.

HIPAA

Healthcare data security is not only critically important, it's the law. Cobalt Health has implemented numerous security measures to ensure that your data is absolutely secure, and is in full compliance with all HIPAA guidelines on security and privacy.

Getting Started With Cobalt Health

We work hard to ensure that the overall transition and implementation process is handled smoothly and efficiently. We will work with you to seamlessly migrate data from your current billing system or service provider. Moving forward, all you will need is web access to view reports from the convenience of your own office, if you choose. And we can train your staff on our practice management system in just a few days, if applicable.

Cobalt Health – The Solution

More money, fewer headaches; more strategy, less administration. Most importantly, you have more billable clinical time and are able to use our critical insights to take greater control of your business. Interested in learning more about how Cobalt Health can help your business be more successful? Please contact us for more information.