The Medical Industry Needs End-to-End Solutions

As technology advances and the medical industry has more technological needs in order to manage it’s overwhelming communications and billing system, the need to have a one-stop shop is ever more apparent.

Tensoft, for example, a leading end-to-end ERP and supply chain solution provider for the technology industry, announced the release of version 5.5 of its Tensoft revenue cycle management service (RCM) application.

The newest release includes updates to its revenue cycle management service and enhancements that address specific customer requests that benefit significant sub-sets of the product's user community.

This is an incremental release that enhances and adds to functionality. The improvements allow customers to more easily choose when they would like to update, and supports IT best-practices like user acceptance testing.

The Tensoft products supports additional methods for uploading contracts into the system in terms of initialization and CRM integration, enhanced billing options, greater flexibility for contract administration, and streamlined transaction posting.

This will prove useful with revenue cycle management training. Not only is it crucial to have comprehensive systems, it is important to have skilled and knowledgeable staff management the systems.

Arlogix, a medical collections outsourcing company, is a leader in revenue and billing training, streamlining and building efficiency in the medical industry.

What Does an Accounts Receivable Supervisor Do?

Accounts receivable represents the money that is owed to your firm from the sale of products or services by another entity.

Generally, the majority of businesses, accounts receivable are handled through invoices sent by mail or sent electronically. During accounts receivable training, one learns how to manage the process of invoicing the produces or services ordered by another business.

Once an invoice is delivered to the entity that owes money, they have to pay the bill within an established timeframe. The timeframe given is referred to as credit terms or payment terms. On a business’s Balance Sheet, accounts receivable, or money owed to the company is seen as an asset.

A supervisor that handles this part of the company’s balance sheet ensures that they receive the payment for their orders within the established timeframe. Additionally they are responsible for handling any delinquent accounts, monitoring for any potential payments problems, checking for errors in demographic and insurance information, and paying close attention to internal processing delays and errors. By working to improve collections for invoices they also work to increase workflow efficiencies within the business.

Advanced revenue cycle management training is another important aspect of being a successfully accounts receivable training, since the supervisor must analyze and trend the bookkeeping of the company.