Revenue Retriever is an innovative new solution that helps veterinary groups to tackle the costly problem of misbilling.
Because vets are focused on patient care, not paperwork, they often miss items off customer bills. As a result, large and medium sized veterinary businesses are losing 10% or more of their revenue from unbilled products and services.
Revenue Retriever prevents misbilling as it happens. It is integrated with your Provet Cloud practice management system and reminds vets to add missing items while the consultation is still in progress.
10% of revenue lost to billing omissions
During consultations, Revenue Retriever reviews the products and services that the vet has added into Provet Cloud and runs a series of checks to see if anything is missing.
For example, if the consultation has included administering IV fluids, then your practice protocols may require that the customer is charged a hospitalisation fee.
At the end of the consultation, if anything has been missed off the bill, Revenue Retriever will pop up and tell the vet what needs to be added and why. It suggests products or services which they can add to the bill with just a couple of clicks.
See how it works in Provet Cloud
All of Revenue Retriever’s checks and suggestions are specific to your practice protocols and your preferred products and services.
It starts its learning process by analysing past data from your practice management system. It looks for patterns, especially products and services that are frequently used together. Through its analysis, it proposes a series of ‘rules’.
These system-generated rules are then sense-checked and fine-tuned by our experienced consultants. Based on their veterinary experience and discussions with your team, a final set of rules is agreed. These define the checks which Revenue Retriever makes, to achieve the greatest financial benefit with the minimum of unwanted interruptions.
Explore the rule generation process
We know that Revenue Retriever delivers exceptional return on investment, as it gives every customer detailed reports of where it has intervened and how much extra revenue they have gained. In particular, Revenue Retriever records every time a vet adds a product or service to the bill from its prompt, which they would otherwise have missed.
Revenue Retriever can also perform detailed analysis of your previous billing records, identifying every consultation where it would have intervened, and estimating how much extra revenue you would have gained. This analysis can help you identify problem areas where you need to focus attention; it is also key to building the business case for a Revenue Retriever rollout.
Read about audit and reporting
Revenue Retriever can be implemented across an entire veterinary group or trialled in a few selected clinics. We also offer a service to analyse your historic billing data to understand the true nature and extent of mis-billing in your organisation.
To arrange a demo, discuss a misbilling review or explore how Revenue Retriever could work in your organisation, please contact us:
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