ZirMed, a vendor of cloud-based revenue cycle software and predictive analytics, debuted at HIMSS17 its new Contract Management, Modeling and Payment Variance system.
This addition to the company's cloud-based platform is designed to help providers handle the complexity of managing and modeling payer contracts while ensuring accurate payment from claim creation through the appeal process. In many systems, ZirMed contended, vendors require providers to go through lengthy and cumbersome contract loading and maintenance processes, resulting in lost time and unnecessary expenses. Additionally, payer contract modeling can place a significant drain on IT resources and hinder a staff's performance while making systemwide analysis of contract performance quite difficult, ZirMed added.
The new Contract Management, Modeling and Payment Variance system enables health systems to create, maintain and model contracts in real time, ZirMed explained. The platform accommodates both government and commercial payer contracts and terms while providing visibility into payer performance at the enterprise and facility level, down to the individual claim, the company added.
By exploring various "What if" scenarios in real time, providers can make calculated decisions as new contracts are structured, ensuring optimal financial health, the vendor said. The new system includes tools such as workflow, reporting and appeals management, with the aim of making it easier for providers to ensure payer compliance and recovery of lost revenue.
Ric Sinclair, ZirMed's vice president of product said the technology advancements come from listening to its customers, who are asking for help solving meaningful problems.
ZirMed is showcasing its new Contract Management, Modeling and Payment Variance system at HIMSS17 in Booth 4871.