With more than 15 years of experience in working with Medicare Advantage plans, Wipro understands your need to reconcile Medicare enrolments and payments - timely and accurately. The large volume of CMS data, frequent revisions to payment methodologies and regulations make the reconciliation process very complex. Plans often lose up to 10% of their monthly capitation payments from CMS due to incorrect or incomplete information in addition to facing the challenges in meeting the 45-day attestation timeline.
Wipro’s Revenue360 solution for Medicare Advantage Plans adds intelligence and automation to the process and allows you to:
- Easily capture all Part C and/or Part D payment types including member premium for SSA withholding
- Track expected payments at the member level
- Drill down discrepancies to member level, financial impact and actions to resolve
- Collate retroactive payments from CMS that are automatically applied and split across the appropriate months
- Provide the finance department with an accurate picture of monies owed to CMS or potentially from CMS
- Create an audit trail of actions taken to resolve discrepancies and develop management reports to monitor trends
Register to join our webinar to explore some of the best practices in reconciliation, using Wipro’s Revenue360 solution.