MatrixCare™ Financials integrates with resident data and MDS optimization tools to maximize reimbursement and optimize cash flow
MatrixCare supports organizations with multiple locations through a single database, with shared data across the organization. With a single point of entry for all resident data, MatrixCare ensures that your MDS data seamlessly flows through to your census and billing automatically.
MatrixCare offers complete customization, enabling you to set up payer billing information at the corporate or facility level. You can then customize billing in greater detail at the resident level, enabling you to adapt billing for individual resident plans.
The unique MatrixCare Charge Calculator maximizes your cash flow by enabling you to:
- Generate billing at any time during the month, as frequently as necessary
- Trigger billing recalculation automatically when changes to resident data occur
- Generate accurate and comprehensive retro billing
- Create statements for residents at any time during the month, enabling discharge billing
Resident account data is easily accessed with our user-friendly Account Detail page, and resident balances are always available, as MatrixCare never archives prior balances. Reports and statements are always available for both current and prior periods.
An easy, automated Month End Close process ensures that each month is closed with data integrity, so that the General Ledger is balanced, cash receipts are fully distributed, and more.
Automated Data Entry
Eliminate time spent entering ancillary charges and payer remittances by automatically uploading charges and cash into the system. Ancillaries can be uploaded from third party systems such as therapy or bar coding systems, as well as from an Excel spreadsheet. Payer remittances can be uploaded from any payer sending them in the 835 format.
The robust MatrixCare Claims Management system efficiently manages your claims editing, transmission, audit trails, and compliance, leading to accelerated cash flow and an improvement in your Accounts Receivable processes.
MatrixCare Claims Management offers:
- Thousands of electronic connections to Medicare, Medicaid and other commercial insurance payers
- Transmission of UBs and 1500s and the ability to pick up 835 electronic remittance advices (ERAs)
- Electronic remittances that can be automatically posted to billed charges
- Claims editing specific to each payer’s unique billing requirements that can significantly reduce rejections and rebilling
- Compliance edits such as CCI (Correct Coding Initiative)
- System alerts to identify batch or claim rejections immediately, and when found, the system finds the cause and resubmits claims on your behalf as soon as possible
Our vast payer list grows larger each day as we continue to build new connections with payers as they become available. State legislation continues to require providers to send and receive claims and ERAs electronically, so MatrixCare helps you to be ahead of the curve in accommodating the diverse payer pool you require for your electronic claims and remittance transactions.
Our clearinghouse team reviews thousands of publications daily and updates the edit errors every night to stay up-to-date with each payer's requirements. The sophisticated editing capabilities significantly reduce rejections and rebilling, resulting in faster reimbursements and the ability to raise first time acceptance rates.
Accounts Payable provides a flexible system for managing the payables process. The system includes easy invoice entry, check writing, and a purchase order system to automate the approval process. Unique expense distribution reports can help you compare actual disbursements with the approved budget throughout the month, helping you proactively monitor spending and stay within budget.
General Ledger features a comprehensive chart of accounts designed specifically for the eldercare industry. All cash transactions are posted to the GL automatically, providing up-to-the-minute balances on accounts. General Ledger enables you to process bank reconciliation, budget construction, fixed asset management, and develop financial statements that can be exported to Microsoft Excel.
Using MatrixCare Resident Trust, you can track resident funds easily, including a cash drawer feature to help you manage the resident trust petty cash drawer. A separate month end close process enables you to close Resident Trust at your convenience, not just in conjunction with Accounts Receivable. You can create reports on activity performed in the Resident Trust module easily, including quarterly statements.
MatrixCare Collections is a real-time system, tracking resident balances nightly. Once an account meets your predefined criteria for collections, MatrixCare automatically creates a collections plan that you have customized for your organization, which can include tasks for calls, letters, reminders, and escalations. You can create letter templates to easily merge MatrixCare data and create letters as necessary. All collections information is easily available, with reporting features enabling you to track Collections aging, collector statistics, late tasks, and much more.
Full Integration with Clinical Data
Clinical and financial users share one point of data entry for all census and resident information. This structure results in consistent and accurate records that need only be edited once if changes are necessary. Resident Messaging within the system facilitates communication, alerting the appropriate parties to updates and changes that have occurred in the system. RUGS information flows seamlessly from the clinical application, ensuring accurate payer billing.
Request a Demo
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