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What is Sophical Solutions?

By concentrating on a select number of premium prices and implementing more competitive pricing strategies, we enhance our capacity to generate additional net revenues. This is accomplished by reducing or removing the gaps between charges and negotiated rates for contracts that include "lesser of" clauses. In addition, we increase net revenues through the detection and recovery of underpayments. Our customized models serve each client effectively, as we refrain from confining their data to a generic software solution. These tailored models achieve high accuracy because we carefully analyze every contract, model all pertinent terms, confirm the alignment between plan codes and insurance products, and perform thorough testing on our models. We consider every reimbursement impacted by price changes, which results in the most accurate predictions available in the industry. Moreover, our pricing methodology is not only defensible but also straightforward and comprehensible for patients, ensuring our pricing structures are logical and appropriately tiered. Ultimately, this comprehensive approach significantly boosts revenue generation while upholding transparency and fairness in our pricing practices, fostering trust between us and our clients.

What is SOFTRAX Revenue Management System?

The SOFTRAX Revenue Management System (RMS) automates the full lifecycle of revenue recognition and revenue management, enabling companies to spend less time managing compliance and more time driving growth. Purpose-built for complex, high-volume environments, SOFTRAX RMS centralizes contract data, applies configurable revenue rules, and ensures accurate, audit-ready revenue outcomes.

Media

Media

Integrations Supported

Aria
Avalara
Microsoft Dynamics 365
NetSuite
Planview ChangePoint
SAP Business One
Salesforce
Sovos
Thomson Reuters ONESOURCE

Integrations Supported

Aria
Avalara
Microsoft Dynamics 365
NetSuite
Planview ChangePoint
SAP Business One
Salesforce
Sovos
Thomson Reuters ONESOURCE

API Availability

Has API

API Availability

Has API

Pricing Information

Pricing not provided.
Free Trial Offered?
Free Version

Pricing Information

$420.00/month
Free Trial Offered?
Free Version

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Supported Platforms

SaaS
Android
iPhone
iPad
Windows
Mac
On-Prem
Chromebook
Linux

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Customer Service / Support

Standard Support
24 Hour Support
Web-Based Support

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Training Options

Documentation Hub
Webinars
Online Training
On-Site Training

Company Facts

Organization Name

Sophical Solutions

Company Location

United States

Company Website

www.sophicalsolutions.com

Company Facts

Organization Name

SOFTRAX

Date Founded

1999

Company Location

United States

Company Website

www.softrax.com

Categories and Features

Payment Processing

ACH Check Transactions
Bitcoin Compatible
Debit Card Support
Gift Card Management
Mobile Payments
Online Payments
POS Transactions
Receipt Printing
Recurring Billing
Signature Capture

Categories and Features

Revenue Management

Competitor Analysis
Dynamic Pricing
For Airlines
For Hospitality Industry
Forecasting
Inventory Control
Price Optimization
Recommendation Engine
Yield Management

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