Lifetrenz Hospital - Insurance Management System
The Health insurance coverage is growing and large number of patients have moved from out of pocket expenditure to health insurance cover. Health Insurance companies are entering into contract binding rates which effectively shifts the burden of managing costs to hospitals. Hospitals that can reduce costs through their use of EHR systems such as Lifetrenz will benefit from the associated savings.
Lifetrenz Hospital Insurance Management Module is a comprehensive end-to-end solution designed to handle various types of insurance processing requirements and scenarios. The easy-to-use solution helps in quick processing of pre-authorisation and post hospitalisation insurance claims and will help reduce the accounts receivable and improve the revenue cycle management at Hospitals. The system is future-ready with the capability to transmit claims electronically to insurance gateways, as and when these are opened up in the country.
3 Key Features of Lifetrenz Hospital Insurance Management System
Handles all insurance scenarios
Handling patients covered by health Insurance requires the flexibility to handle different insurance billing scenarios. Lifetrenz Hospital Insurance Management System handles all the different scenarios for insurance cases such as pre-authorisation, Co-Payment, handling Insurance packages, regular hospitalisation, insurance inclusion and exclusion billing, billing based on PPN and NPPN billing rules etc.
Handles insurance inclusion/exclusions
Every health insurance product has defined coverage limits, which are clearly stated in the policy wordings of the plan. Every plan has a list of exclusions which will not be covered by the insurer. Hospitals can define what is covered and not against different plans and packages in Lifetrenz Hospital Insurance Management Solution and the billing is handled automatically based on these business rules.
Handles PPN and NPPN scenarios
Hospitals can designate the insurance Companies or the TPAs with whom they have been empanelled as a Preferred Provider Network (PPN) partner. In such cases, the package prices agreed with the insurance company/ TPA is automatically shown at the time of billing. Co-pay amount, if any, can also be collected separately. Incase of a Non PPN (NPPN) insurance company, or TPA, the case is dealt as per the NPPN requirements.