Panacea Healthcare Solutions, LLC today announced that after months of research and due diligence they have chosen to offer H.I.M. ON CALL's RAConciliation™ solution as the exclusive RAC Tracking and Denial Management module at Panacea's popular RACAuditor.com web site.
With the implementation of the Federal Governments' Recovery Audit Contractor (RAC) program nationwide wherein hospitals face significant risk to revenues and profit margins due to a very complex appeals processes with stiff penalties, Hospitals will have to respond with precision in a short period of time to the many request of information and denial letters received from the RACs, while dealing with one of the most complex protocols ever designed to recover overpayments. As a result, Hospitals and Providers will need to have in place the right application tool to monitor all aspects of the process.
"Our vision for RACAuditor.com since its launch in 2008 has been to offer a comprehensive suite of 'Best in Class' services that hospitals can trust to meet their RAC data mining, tracking, process improvement, appeal support and other related consulting needs. H.I.M. ON CALL's RAConciliation meets this standard hands down. RACAuditor.com's new RAConciliation module offers the industry's most comprehensive set of features on a most contemporary technology platform, for a competitive price. RAConciliation is a new module built on a solid and proven platform in use by H.I.M. ON CALL's DocuXP clients for years. The coding and compliance experience, reputation and financial stability of H.I.M. ON CALL also weighed heavily on our decision to offer this innovative solution at this time," said Frederick Stodolak, CEO of Panacea.
"We are excited that Panacea Healthcare Solutions has selected RAConciliation to be the exclusive RAC Tracking and Denial Management system offered among its popular RACAuditor.com services. We have observed the increased popularity of the Panacea Healthcare Solutions offerings and are happy to be among the 'Best in Class' partners chosen by Panacea Healthcare Solutions," stated Manny Peña, President, of H.I.M. ON CALL.
RAConciliation is a web-based system that features an audit tracking and denial prevention approach that will assist hospitals, physicians, and outpatient facilities track all cases requested, submitted, reviewed, determined, appealed and provide the final outcome of each case.
By implementing RAConciliation, hospitals will be able to timely track and reconcile all types of external reviews coming from third party payors (i.e. Blue Cross, Aetna, Prudential, etc.) and governmental regulatory agencies (i.e. RAC, OIG, QIO, FI) and trend all outcomes for implementation of corrective actions.
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