NMFS enhances the cash flow and reduces the administrative burden of participating Hospitals across the nation.
- Improved Efficiency For Administrating Denied Claims
- Accelerated Claim Payments To Improve Revenue Cycle
- Enhanced Visibility Into Hospital’s Financial Systems
Improved Administrative Efficiency on Denied Claims
Hospitals typically wait weeks from bill submission to be advised of payment status and amount. This delay negatively impacts when a hospital can bill a patient or appeal a denied claim. myClaimStatus provides hospitals with significant workflow efficiencies and the ability to jumpstart their A/R follow-up.
- Accesses payor databases eliminating phone calls & manual searches for claim status
- Receives 837s and automatically queries payor websites
- Returns actionable claim status info immediately when available
Accelerated Claim Payments to Improve Revenue Cycle
Because NMFS has the ability to interrogate the adjudicated claims databases of major Commercial Payors daily, NMFS will know how much a hospital client will be paid for services weeks before they know … hence
- NMFS may advance funds to hospitals with a certainty of the amount Commercial Payor will pay
- NMFS does not require a client hospital to enter into a borrowing agreement, nor does NMFS place any liens on hospital assets
- NMFS payments received by a hospital are not booked as cash and a liability; but rather, as cash and an offset to accounts receivable
Enhanced Visibility into Hospital’s Financial Systems
Hospitals lack the robust financial reporting found in other types of businesses their size. The myClaimAnalytics Reporting Solution provides a customizable suite of cloud-based dashboard tools that measures the health of a provider’s revenue cycle and analyzes payer performance.
- Proprietary architecture combines accuracy and automation without the need for integration
- Complete scalable, rapidly deployable with minimal client IT lift
- Intuitive user interface “democratizes the data”
NMFS enhances the cash flow and reduces the administrative burden of participating medical providers, healthcare payers and managed care organizations by consolidating hospital payments, advancing pay and performing value added services. The Company is headquartered and operates primarily in the State of Maryland.