New application delivers guaranteed savings through automated “bill-only” charge reconciliation, streamlining implant supply chain management
ReadySet Surgical today announced the launch of RS Capture, enhancing the Company’s cloud-based, end-to-end platform to optimize hospital surgical supply chain management. RS Capture guarantees that hospital supply chain leaders can prevent off-contract implant utilization, resulting in more cost-efficient surgeries for the hospital and patient. By documenting and validating all vendor submitted implant charges against the contract Item Master prior to submission, RS Capture accelerates the revenue cycle by processing surgical invoices up to four times faster with 100% accuracy. It is estimated that billions of dollars in “bill-only” implant charges contain errors, so health systems are forced to expend significant resources to resolve inaccurate billing data which ties back the patient’s medical record.
“Managing the surge in procedural demand that many hospitals are experiencing underscores the need for a well performing surgical supply chain,” says ReadySet Surgical’s Founder and CEO Keerthi V. Kanubaddi. “There simply is no room for inefficiencies, particularly as hospital financial losses are projected to deepen by year end.”
“RS Capture shifts the burden of correcting invoice errors from hospital staff to manufacturers’ reps,” says Kanubaddi, who worked 12 years in the medical device industry and witnessed firsthand the issues that the inefficiencies in the vendor-managed surgical supply chain can create for both hospitals and manufacturers. “Hospitals dedicate countless hours per month to investigating and correcting inaccurate implant charge data which can negatively impact the patient’s final bill. RS Capture solves that, delivering process and efficiency that hospitals need now.”
RS Capture builds on ReadySet Surgical’s existing solutions, RS Track, which documents and tracks loaner and consignment surgical inventory, and RS Coordinate, which is integrated into the surgical scheduling platform (EMR) and provides real-time alerts related to upcoming patient procedures.
“With our end-to-end platform, we can provide guaranteed savings opportunities for our customers,” says Kanubaddi. “Hospitals no longer need a team of people to do a three-way match process for each invoice to ensure that the equipment was used, the item was contracted, and the invoice displayed the correct price. This type of efficiency is critical for the industry.”
To learn more about ReadySet solutions for device tracking, real-time notifications, invoice reconciliation, and system reporting, click here.