As the reimbursement market for Medicare and Medicaid grows more complicated, providers turn to outside sources for help. Stingray by Healthcare Payment Specialists reinvents the reimbursement recovery market for healthcare and automates the process.
The Stingray platform automates the review and processing of Medicare and Medicaid reimbursement reviews for Bad Debt, Disproportionate Share, Transfer DRG and Shadow Billing. Stingray eliminates the need for multiple data sets and consultants to offer hospitals and health organizations in-house offerings to power their own recovery efforts.
Teams can improve performance by:
• Aggregating, standardizing and validating all relevant reimbursement data on a single integrated platform
• Generating the detail and reporting needed to compile with Medicare and Medicaid reimbursement reporting requirements
• Leveraging HPS’ data analytics to achieve long-term performance improvement
“We were a little skeptical at first of the dollars that were projected for our facility but decided to move forward with the project because our process was manual and was very time consuming. In one cost report filing we covered our cost of the Stingray™ project over and over. We were able to identify more [Medicare] bad debt and [DSH] days that would have been overlooked in the past because of the manual process.” Says a reimbursement coordinator at the St. Alexius Medical Center in Bismark, North Dakota. “It wasn’t the easiest transition for the first year and had some issues with the initial set up but the support provided by the HPS staff was exceptional and I did file my cost report on time. They are very dedicated to making sure the client knows how to work with the software but are also happy with it.”
The Healthcare Financial Management Association (HFMA) announced that the Stingray service recently achieved the “peer reviewed by HFMA” standard. The HFMA Peer Review process assures that the members of HFMA have given a product a rigorous evaluation and that the reviewed product or service meets an objective third-party assessment of overall effectiveness, quality, and value.
“We are excited to receive the HFMA Peer Review designation,” said Todd Doze, President and CEO of HPS. “HPS developed Stingray™ to provide hospitals and health systems with a way to optimize their reimbursement more effectively and efficiently. This prestigious designation validates that Stingray™ has achieved this objective.”