Refund Request Collections
Drive the review and recovery of internal and/or vendor identified refund requests electronically through TRENDTrackThe Challenge
A key business requirement for all insurance payers is identifying overpayments through the use of their own payment integrity program or the use of external vendors. In most cases, insurance payers and their vendors focus solely on the identification of overpayments and have antiquated methods of validating and recovering those overpayments at the provider. Many still send paper refund requests through the mail or fax and depend on the same methods of communication back from the provider.
The Solution
TREND delivers a comprehensive and customizable solution. TRENDTrack is our secure, cloud-based refund request collections application that can be easily integrated with the payer and provider. It will electronically deliver the identified overpayment to an assigned user at the provider for review, dispute and approval. This streamlined approach drastically reduces average time to retract, provides comprehensive reporting and encourages real-time communication, transparency and collaboration with the provider.
%
More effective when combined with TREND on-site credit balance recovery
Average number of accounts worked per day by TREND recovery analysts
%
Reduction in average days to retract
Average number of refund requests received by providers annually
Our Streamlined Approach
Insurance payers send an electronic file of their inventory of electronic refund requests for import into TRENDTrack. TREND is able to tailor a technology-driven resolution process to address your specific and unique challenges with delivering this inventory to assigned users at the provider.
Providers will review, dispute and approve refund requests in real-time. All responses are routed back to an assigned user at the payer for proper reconciliation of the claim.
This process is enhanced when combined with TREND’s on-site Credit Balance Recovery service. TREND is there to drive efficiencies with the provider and further streamline the entire approach from payer to provider through the adjustment of the claim. Our application provides real-time status updates, an accurate audit trail and comprehensive reporting to provide key insights while more effectively managing this costly business requirement.
Collaborative and Transparent
Manage, track, and report on your inventory of refund request invoices through TRENDTrack™. Electronically deliver the inventory of invoices to providers through an easy to set up application. Our application provides real-time status updates, an accurate audit trail and comprehensive reporting to provide key insights while more effectively managing this costly business requirement.
Automation is Key
TREND is very experienced in working with payers to help automate as much of the refund request collections process as possible. There is no need for insurance payer analysts to manually process a claim multiple times. TREND can export a file with real-time status updates to initiate claim adjustments and automate the resolution of the claim.
Credit Balance Recovery Services
TREND employs a very skilled and experienced team of recovery analysts that provide credit balance resolution services to providers. The Refund Request Collections process really thrives when TREND recovery analysts are on-site to drive the process with the provider. This ensures a dedicated focus on reducing the average time to retract at the provider.
Our Service Modules
Below are the service modules found in TRENDConnect which support our Correspondence Management solution:
TRENDTrack
TRENDTrack helps providers manage, track and report on their inventory of refund request correspondence received from payers and their vendors. This dynamic, streamlined user experience infuses accountability and transparency into an otherwise cumbersome manual process. Further, providers will be able to analyze root cause detail and tap into comprehensive reporting which encourages improvements in their own revenue cycle and reduce administrative costs for all parties.
TRENDResolve is a game-changer
Secure, cloud-based application
Our unique solutions are built on an advanced HIPAA-compliant, cloud-based technology platform that helps our payer partners to reduce redundancy, minimize cost, and manage resources more effectively.
Built from the ground up
Our application is a comprehensive, technology enabled solution created from a configurable suite of business process modules designed to minimize the cost and maximize the efficiency of the payer’s payment integrity program.
Dynamic dashboard reporting
TRENDResolve provides real-time status changes, an accurate audit trail and comprehensive reporting to provide key insights while more effectively managing this costly business requirement.
- Reduction in duplicate refund requests 98%
- Increase in productivity 20%
- Reduction in average days to resolve 32%
- Providers prefer TREND over other credit balance vendors 100%
Are you TRENDING UP?
You want us on those credit balances. You need us on those credit balances. We use words like honesty, transparency, collaboration. We use these words as the backbone of a company founded to focus on you, our client. You use them as the values required by your vendors. We absolutely have the time and the inclination to meet with you for 30 minutes and give you a demo of our application. Either way, you are entitled to a credit balance vendor focused on maximizing their value to you!
