Traditionally, Accounts Receivables (A/R) work was a manual process leveraging callers attempting to track down owed monies. But our clients want to receive cash faster, reduce losses, identify and correct issues that delay payments, and move to a more prescriptive denials management process. Through VeeProMIS, a web-based A/R and denials workflow tool, Vee Technologies is delivering on that vision today. The solution is evolving from being descriptive to predictive, and then to an ultimately prescriptive solution.
Accounts receivable work requires skilled and knowledgeable resources to successfully process work that can be tedious and complex, while requiring an analytical approach. Finding and retaining this type of individual can be challenging. Not having properly trained and experienced staff can mean delays in receiving payments or uncollected money. The inability to identify and communicate root causes to issues can result in problems continuing to perpetuate throughout the organization. Organizations that do not utilize a workflow management solution find it difficult to accurately report the status of their accounts receivable and effectively manage staff.
VeeProMIS is a web-based accounts receivable and denials workflow management solution developed by the Vee Technologies Information Services team. It is comprised of three modules – Core, WORPP and MIS. Core manages the master database, system configurations, and users. WORPP is the workflow engine where work queues are built for different roles and support A/R claims-related tasks. This component is also where quality checks and communication between users occur. The MIS module supports reporting and dashboards.
While VeeProMIS provides work queues and productivity reporting, its real benefit comes from automating and prioritizing the work into logical clusters. Leveraging machine-learning and analytics tools, VeeProMIS prioritizes work into different categories, such as high dollar, critical to timely filing limits, recent denials, cross filed limits, and others as needed to support client requirements. This information is used to prioritize the work inventory and assign the most appropriate and effective resources to the work that needs their expertise. The result for our clients is more cash collected faster.
Communication and transparency are important pillars of the culture at Vee Technologies. Through the MIS module of VeeProMIS, our clients have access to customizable dashboards that provide real-time reporting information. These dashboards allow users to drill down into detailed information about the A/R, the entire claim life cycle, and productivity data. An example of dashboards we have created include:
These reports are all customizable and available to our clients, offering transparency and accountability for the entire A/R process.
The development of VeeProMIS by Vee Technologies is enhancing our ability to deliver the high-quality solutions our clients expect from us today. At the same time, we provide a solid platform to enhance the accounts receivable process by utilizing more sophisticated technologies well into the future. We are leveraging this technology and shifting from a descriptive reporting tool to predictive automation that prioritizes the A/R inventory to optimize cash receipts. In a short time, Vee Technologies will utilize artificial intelligence to convert VeeProMIS into a prescriptive tool that automates the revenue cycle management workflow and advances Accounts Receivable services to unprecedented levels.