However, maintaining and managing a strong revenue cycle can be a daunting task for hospitals and health systems, given the ever-evolving nature of the healthcare industry. The continuous regulatory amendments and the advent of new rules make it difficult for healthcare providers to adhere to compliance policies while handling their billing processes. Also, practices are often overburdened with everyday tasks—submitting claims, reviewing claim acknowledgment reports, or posting EOBs. That’s why they fail to rightly track their and payers’ performance. This leads to declining reimbursements and poor cash flow. In such a scenario, healthcare providers need a competent partner who can assist them in maintaining income stability by navigating through the regulation changes.
To this end, Falckon Health provides end-to-end revenue cycle management services and integrated technology solutions that help a healthcare practice recover every dollar it deserves. “Our solution is a personalized transformation solution that is tailored to accommodate any practice size or group,” says Rajprasath Sundarajah, Co-founder and Director of Operations, Falckon Health. He goes on to mention that when it comes to revenue cycle management, clients’ requirements vary depending on a number of factors such as the size of the organizations, their locations, or the internal issues they face. To elucidate, a simple healthcare practice or a general physician might look for a solution for just collecting claims. But large scale hospitals are always concerned about protecting data while ensuring that claims are billed out and collected on time. “We understand these diverse client demands. That’s why our solution can be customized from a people, process, and technology perspective,” Sundarajah adds.
Falckon Health : Robust Revenue Cycle Management Solution to Improve Practice Profitability
We are dedicated to ensure financial wellbeing of healthcare providers so that they can focus on delivering better care without worrying about their revenue cycle
In the last four years, Falckon Health has guided many clients, especially startups, through the rapidly changing rules and regulations regarding healthcare reimbursement. One such startup approached the company at their early stage for revenue management solutions. They were potentially losing about 80 percent of their revenue owing to the lack of knowledge on regulatory changes. Falckon Health’s personalized, end-to-end revenue cycle management services provided the client access to a potential 80 percent of their revenue. The company ensured that the practice gets paid for the services that they offer with proper billing. They also implemented a full-fledged compliance proof process for the client to ensure that whatever they collected was in compliance with the rules. Not stopping there, Falckon Health deployed a best-in-class data protection solution to ensure the security of sensitive healthcare data. As a result, the startup thrived as a practice from a revenue, sustainability, compliance, and technology perspective. In fact, within a period of two years, the client became a $12 million entity.
“We have done many such phenomenal works with startups. Our team is the greatest contributor to such a success,” Sundarajah prides. And truly, Falckon is a blend of individuals who have extensive analytical, technical, managerial skills. They all are industry experts and work dedicatedly to help clients overcome all the quandaries and take care of the complete lifecycle of medical claims. This team also drives the company to explore new avenues of growth by enhancing its solution and help clients adapt to emerging industry trends such as virtual healthcare delivery systems. They are also significantly investing in machine learning and analytical platforms to allow clients to make informed decisions and forecast effectively. “We are dedicated to ensure financial wellbeing of healthcare providers so that they can focus on delivering better care without worrying about their revenue cycle,” concludes Sundarajah.