Faster Payments

On average, LumaShift clients realize a 33% reduction in Accounts Receivable days, compared to the RCM market standard of 10%.  

Manually checking outstanding claim status takes phone calls and payer website visits. This is one of the most time-intensive components of the entire claim workflow. On the other hand, automated claim status checking takes just seconds, improving staff productivity since their time can be allotted to more valuable activities.  

In the U.S. the actual time taken to collect receivables is almost twice the contractual terms.  

Delays experienced by healthcare providers in collecting receivables cause significant revenue leakage. 

  • Paper-work accuracy
  • Internal clarifications and sorting
  • Admin bandwidth
  • Transfer of information
  • Additional information on disease condition
  • Treatment guideline disagreement
  • Dispute on coverage, clinical and non-clinical cost items
  • Payment run batch/ schedule from TPA or Payor
  • IT glitch/ exceptions
  • Manual errors
  • Slow follow-up form hospital collectors

TPA = Third Party Administrator

Our suite of automation tools helps prevent receivables pile-up reduces strain on working capital.

“Overall, I am very satisfied with the performance. We were able to reduce coding inventory drastically and our bills just get out the door much faster.”

Dameron Hospital