Revenue Retriever’s Key Features
Every practice has rules or protocols:
- some govern the clinical care a patient receives according to clinical standards set or overseen by the Practice Principal and/or Senior Clinician.
- some are designed to ensure that the practice receives proper recompense for services rendered and products sold.
Revenue Retriever(RR) sits outside the Practice Management System and when given these rules, monitors and audits the transaction processes of the PMS and reports on any non-compliance of them. RR can identify:
- which rule wasn’t followed.
- which practice failed to follow the rule (for multi-site practices).
- when that happened.
- who was responsible.
RR works at the same time in up to three modes:-
- AUDIT: measures and audits what work was performed and not charged for. A report is produced detailing financial losses incurred.
The reports are also a valuable training tool. The speed and frequency of the audit allows problems to be speedily addressed with the responsible practitioner and subsequently monitored – on a daily basis if need be – to ensure that lessons have been learned.
RR enables benchmarking of performance both within practices and practice-vs-practice for motivational and bonus purposes. Example: RR will audit a rule which stipulates that 20% of all surgeries go home with specified recovery food.
Revenue Retriever can also do the following:
- refine and accelerate marketing evaluation of various promotional techniques.
- measure missed opportunities e.g. how many booster vaccinations were also sold parasite treatments
- AUDIT PLUS AUTO-PROMPT: RR can be moved from passive audit to include AUTO- PROMPT mode, where the clinician is prompted e.g. in the care of a patient. This could be where such level of care has been judged as best practiceby the clinical lead within a practice. The prompting capability can also be used to encourage the clinician to upsell.
- AUDIT PLUS AUTO-CORRECT: RR can ensure that charging protocols are enforced by modification of the invoice BEFORE payment. Missed charges become a thing of the past, and RR operating in this mode can be used to enforce critical clinical protocols: e.g. a prior injection before prescription of take-home anti-biotic medicine.
Important note: if a clinician wishes to ignore the auto-prompt or over-ride the auto-correct mechanism he can do so, but his action is logged and reported. Clinical freedom is therefore respected and permitted, but monitored and therefore controlled.
RR at this time cannot discriminate between various levels of charge for the same service (e.g. consultation fees). In this eventuality of a failure to charge any fee, RR will default to the lowest charge to ensure there is at least some revenue for this activity.
RR is remarkably simple to install and operate, in contrast to the complexity of compliance analysis on some PMS.