Are you TRENDING UP?
We are an employee-owned company founded to focus on client relationships. We recognize the importance of collaboration between insurance payers and health service providers and strive to facilitate a more transparent and effective connection.
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Our Collaborative Solutions
Trend Health Partners combines hundreds of years in healthcare payment transaction experience with state-of-the-art technology and specific support services. This provides payers and providers with exceptional opportunities to lower their costs and enhance their bottom lines in a collaborative and transparent manner. TRENDConnect is a highly secure financial transaction resolution platform built specifically to address the inherent complexities of our $3 trillion healthcare billing and payment ecosphere.
Payment Integrity Solutions
Payment Accuracy
TREND applies proven multi-dimensional algorithms to a unique and flexible set of business rules to identify more complex claim scenarios and help your plan identify and recover more cost-saving opportunities.
Credit Balance Recovery
TREND deploys a team of highly skilled and experienced recovery analysts and managers to a vast network of providers to efficiently identify and resolve incrementally more credit balance recoveries.
Refund Request Invoice Collections
Leverage TRENDConnect to send internal or vendor solicited refund request invoices electronically for review and approval by connected healthcare providers or by TREND’s on-site recovery team.
Revenue Cycle Solutions
Credit Balance Resolution
TREND resolves credit balances, not just overpayments, and recover on behalf of contracted insurance payer clients as an extension of the provider’s business office.
Correspondence Management
Manage, track and report on payer or vendor correspondence. Our application provides real-time status changes, an accurate audit trail and comprehensive reporting.
Provider Self-reported Refunds
Providers can electronically submit, and eventually track and report on, overpayments for review and approval directly to connected insurance payers.
Answers to Your Questions
What are credit balances?
It is a common misconception that a credit balance is evidence of an overpayment or an indication that someone is owed money back. A healthcare credit balance is more appropriately defined as payments and contractual allowances exceeding total charges within the financial accounting system.
Do all credit balances result in overpayments?
According to the Healthcare Financial Management Association (HFMA) approximately 75% to 80% of credit balances are the result of mis posted allowances, charge credits subsequent to billing and incorrect collections at the time of service. Only 20% to 25% of credit balances actually prove to be overpayments due to be refunded to an insurance payer or the patient.
Why do providers use credit balance vendors?
The average teaching hospital manages well over 50,000 credit balances annually, for the average multi-site health system that number increases by a multiple of 10. The annual cost associated with the effective management and resolution of credit balances by the average hospital system is between $1.5 and $2.5 million. Progressive hospitals and health systems are working with companies like TREND, that can provide technology and support services to reduce their costs by between 30-40% to allow their organization to re-deploy their financial staff to more valuable revenue generating activities.
What do you mean by Payment Accuracy?
According to CMS, more than $170 billion in claims are paid in error every year due to the complexity of our healthcare delivery systems. This is equivalent to more than 7% leakage coming from the commercial market and 10% from the governmental market. TREND deploys Payment Accuracy services designed to use an advanced technology platform and proven claims data modeling techniques to drive the identification, validation and resolution of payment errors at scale and with transparency in a collaborative manner.
What does collaboration mean between payers and providers?
TREND employs operational and technical experts from payment integrity and revenue cycle industries. Many of the claims that are paid in error exist due to a breakdown in communication between payers and providers. TREND has developed excellent relationships with payers and providers to facilitate a transparent and collaborative connection seeking to bridge the gap in that breakdown as it relates to overpayment recoveries. We take a deeper dive into the root cause analysis of the overpayment and provide education or recommendations for claim edit fixes to efficiently and accurately resolve current overpayments in addition to preventing any overpayments from occurring in the future.
Location
20 Wight Ave, Suite 150
Hunt Valley, MD 21030
+1 (443) 689-2700