NECTAR is a customer facing business intelligence dashboard showing financial Key Performance Indicators (KPI) such as:
- Total billed charges by insurance carrier or level of care.
- Total payments by insurance carrier or level of care.
- Aging reports by insurance carrier, level of care, and patient; intervals of 30, 60, 90, 120 days and beyond
- Average payment by insurance carrier or level of care by year and month
- Capture rate percentage (payments divided by charges, by insurance carrier, or level of care)
- Performance by patient including total billed charges, total payments, average payment and capture rate by patient.
According to Jimmy Rizzo, CEO of Billing Solutions,
“NECTAR helps billing providers by consolidating their client data, which is historically housed in multiple databases, into one central repository, allowing for easier data management, customization, and ongoing maintenance. This translates into saving a lot of time and money. Each provider can access their real-time dashboard via their own login credentials to see pertinent billing data on demand, in lieu of running ad-hoc reports. NECTAR provides insight into your payer mix, based on projected and historical cash flows which can assist with financial planning at the facility.”