The Intersection of Human
Capital and Technology

The Value Delivered by VeeProMIS

Introduction


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, to ultimately a prescriptive solution.

Problem Statement


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.

Proposed Solution


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.

Proposed Solution Graph

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:

  • Accounts Receivable Summary – summarizes A/R inventory into categories, such as age, financial class, denial codes, and work assignment
  • Inventory Status – summarizes the inventory into the following categories: Worked, to be worked, and non-workable to assist in monitoring progress
  • Resolution Summary – compares age trial balances between two periods to determine the number of claims resolved, the dollar value and percentage of claims that were resolved
  • Inflow Summary – compares age trial balances to determine the number of claims added, the dollar value and percentage of new claims
  • Monthly Collection Summary – compares the age, financial class, and transaction type during the last six months
  • Trend Chart Summary – compares six-month trending of the A/R, collections and adjustments

These reports are all customizable and available to our clients, offering transparency and accountability for the entire A/R process.

Conclusion


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 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.

Mark Kausel

Meet the Author

Mark Kausel - Client Services Director

Mark applies over 30 years of experience from healthcare operations, information technology, and sales and account management roles to deliver strategic solutions to client challenges resulting in positive outcomes with long-term relationships.

The Intersection of Human Capital and Technology

In these unprecedented times, Vee Technologies is committed to doing our part to help those in need. With the ongoing spread of COVID-19 (coronavirus) and the incredible speed at which things are changing around us, organizations are continually adapting their operations and business structure. Vee Technologies has the experience and capability to help your organization through this difficult time. We've expanded our continuity plan and infrastructure to accommodate the current business needs. Please do not hesitate to contact us when your need arises, our implementation team can have you up and running quickly and efficiently.

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