Q: What do you guarantee?
A: We guarantee that our product will be implemented in 6 weeks or less, adjusted for certain package options and any delays in receiving required information from you. We also guarantee performance metrics such as collection rate increase, financial clearance rate at admit, and increased account resolution per worked hour. The metrics chosen relate to the specific product selected and your ability to establish solid baselines.
Q: How will we measure improvements in the Revenue Cycle?
A: Detailed reports are available for every aspect of the services you receive through Benchmark. If you choose to add the Enterprise Reporting Enhancement, you will also have access to reports on a wider variety of performance indicators than the standard products support. [Click here to see a list of all reports and what products they come with]
Q: How will I be able to quantify improvements in patient access?
A: Beyond the inherent efficiencies gained in the flow of work through your patient access areas, you will have access to detailed reports on indicators such as financial clearance rate at Admit, Pre-Cert denial rates, Patient Data Quality denial rate, first-pass bill editor clean claim rate, automated versus manual patient data quality review, plus worker productivity reports.
Q: How will I be able to quantify improvements in my BackOffice?
A: Beyond the inherent efficiencies gained in the flow of work through your back office areas, you will have access to detailed reports on indicators such as account collected per worked hour, account backlog growth/reduction rate, collection rate, AR days, AR 90+, denial write-offs, plus worker productivity reports.
Q: How much does the product cost?
A: It varies based on several factors. Generally, for a 500 bed hospital with a single HIS system, you can count on paying approximately $150K in implementation fees and $17K per month per solution set. The ROI at our typical 3-5% increase in cash would cross over in only a few weeks. There are no hidden costs.
Q: Do I pay more when I have more workers?
A: No. At Benchmark, we want to encourage you to use our technology as much as possible, because that is how you will see the best return. That means everyone should be encouraged to become a user. Once a subscription price is determined for your account, you will pay only that price. Fees are generally related to number of beds, number of facilities, and number of HIS systems.
Q: I can get financial reporting for a lot less elsewhere. How are you different?
A: Our financial reporting tools are more powerful than any others available in the industry today, and yet we do not sell them as a stand-alone product. This is because reporting is not truly valuable unless it includes key work-flow indicators and integrated productivity groupings. We do offer to our clients of the other products the Enterprise Reporting Enhancement which ties into all the data from patient access through back office, and provides more indicators and analytics than are in the base products. Our reporting also has executive level dashboards with e-mail alerts so that CEOs and CFOs can use this data to quickly make important strategic decisions. [Click here to see a list of all reports and what products they come with]
Q: Is the system HIPAA compliant?
A: Yes. In fact, because the platform was designed after the dawn of HIPAA, all access to PHI, and exportation of PHI is tracked, traceable, and alterable.
Q: What about data security?
A: The system was designed to HIPAA data-system industry requirements and the data is stored in a highly secure “data vault.” More information about our security procedures and technology is available by contacting Benchmark directly.
Q: How many customers do you have?
A: We currently have two customers on our subscription products. The success our clients have experienced is unparalleled. Our products, released in January 2007, are based on the platform that we created that has serviced over 40 hospitals over the past three years conducting large scale, high speed analytics.