Revenue cycle management

Revenue cycle management

The health insurance industry is undergoing a radical shift, one driven by new competition from changing business models, compliance expectations, and disruptive technologies.

By leveraging Docframe’s templates, work flows, and intuitive UI, finance companies can now update outmoded internal systems without having to either laboriously code their own custom software, or take on elephantine SaaS solutions that don’t map to their needs. Docframe’s easy-to-use spreadsheet interface allows users to realize rapid time-to-value—while leveraging multi-table, row, and column-level permissions.Ironclad data security through stringent permissions protocols assure that only the correct users have access to proprietary information.

Data is the lifeblood of business today, and perhaps nowhere more so than in the Financial Services sector. Today’s financial institutions are immersed in cyber—their practices, products and services dependent on safe, secure digital protocols. As the sector has increased its dependence on technology, the regulatory environment has kept pace, data protection and privacy rules always on the move to counter evolving security threats. The data produced and collected by financial services firms is, by its nature, private and highly sensitive. Something else that is unique to the digitized financial sector — good data protection enhances a financial firm’s brand value.

High data complexity and sensitivity lead financial services firms to seek correspondingly complex systems. But where complexity is a breach-attracting friend of cybercrime, simplicity is armor. Docframe offers an easy-to-build-and-customize, spreadsheet-like database solution. Here are a few key features.

A Relational Database organizes data into distinct tables which can be linked by data points common to those tables. In practice, this means a single query can extract and assemble an entirely new table from data common to one or more existing tables. This ability to sort and “relate” data across an array of categories is analytical power—illuminating strategically potent relationships between seemingly unrelated data sets and tables. Docframe provides a no-code relational database with a familiar spreadsheet-like UI—as simple as it is secure.

Transactional Data Validation acknowledges the fact that data output are often compromised not by frustratingly exotic digital issues, but by a human finger tapping the wrong key at the wrong moment. Docframe’s platform places immovable guardrails at the field-entry-level where the human operator can wreak accidental havoc. By strictly limiting and defining what can be entered into the given field—Number? Letter? Date? [ad infinitum] — Docframe removes input error as a major cause of output terror, meaning you can trust your data. Uncompromising field entry means data errors don’t increase with scale alongside an increase in employees with *role-based access. Docframe’s platform ensures an accurate, reliable, actionable data set.

Role-based access controls are predefined access permissions intrinsic to the employee’s role. That is, degree of access is baked into, and travels with, the employee’s role. In 2020, it was estimated that 60% of data breaches were from insiders, many of these not coordinated “attacks” at all, but errors—often to do with unqualified users having an unearned depth of access. Role-based access control inseparably marries the degree of access to the role, not to the user. Unlike Discretionary Access Controls, which put the access-granting discretion in the hands of a human gatekeeper, Role-based access controls are inflexible and predetermined. When sufficient design care is given to the role/access relationship, Role-based access controls are by definition self-policing.

Docframe has been designed with security top of mind by implementing those controls and safeguards that ensure the confidentiality of an individual’s private, identifiable information. In the financial services industry, cyber-criminals are always looking for a “way in”, and the means to leverage compromised personal info for massive financial gain.. The financial sector relies ever more heavily on electronic data management as a competitive mainstay of their products and services. Docframe—developed to align with business’ critical need for security and simplicity—provides a no-code platform that is easy to use, maintain, and customize—a straightforward solution for the increasingly besieged and complex realm of financial services.