Kinetik will now offer invoicing as part of its Revenue Cycle Management (RCM) tool to support private rides for transportation providers.
Long Island City, NY - Kinetik, a leading provider of technology solutions for the healthcare transportation industry, announced a new product update for its Revenue Cycle Management (RCM) tool. The update allows transportation providers to start invoicing for any private ride, expanding the tool's capabilities to better serve the needs of its customers. The RCM platform will serve as a central hub for transportation providers to host all of their NEMT billing and invoicing needs.
The new feature in Kinetik's RCM tool will enable transportation providers to create invoices. This will enable providers to streamline their billing process and ensure timely payment for all services rendered. Invoicing clients for private rides will also help providers to generate additional revenue and improve their business operations.
"Our team at Kinetik have been working diligently to support invoicing as part of our Revenue Cycle Management (RCM) tool. Invoicing capability would allow providers to directly bill for private rides to further streamline the NEMT workflow,” said Atif Hussain, Chief Product Officer at Kinetik. “Additionally, this would reduce time spent, and increase revenue, allowing for scalability. But, at the center of it is the patient experience. Invoicing would allow for a better customer experience - and that's what we strive to improve at Kinetik."
According to a recent report by ResearchAndMarkets.com, the global revenue cycle management market is expected to grow from $47.21 billion in 2020 to $216.93 billion in 2028. This growth is attributed to the increasing adoption of RCM solutions by healthcare providers, which helps them reduce costs, improve efficiency, and enhance the patient experience.
In addition to invoicing for private rides, Kinetik's RCM tool also offers a range of features designed to help transportation providers manage their billing process more efficiently. This includes automated billing, claims management, and revenue reporting, among other features.
With the new product update, Kinetik is continuing to lead the way in providing innovative technology solutions that help transportation providers streamline their operations and improve their financial performance.
We envision a future in which the coordination and delivery of medical transportation will be so seamless that any patient, anywhere, can request a healthcare ride in real-time.
To accomplish this, we have built the nation’s largest healthcare transportation infrastructure — one that digitally connects health plans, brokers, and providers. This enhanced level of connectivity significantly improves access to care for patients. Join us and our partners as we reimagine the healthcare transportation industry.