2024 AAOE Virtual AI Summit – Revving up revenue cycle with AI-driven automation for a lean workforce
AI can help reduce waste & improve efficiency in the revenue cycle by analyzing human touches & making recommendations for waste reduction.
TAMPA, Fla., August 9, 2024 (Newswire.com) –Black Book Research announces that MedEvolve has been named the top vendor for Revenue Cycle Management (RCM) workflow optimization and automation services, as recognized by clients in the Q3 2024 satisfaction survey. The survey included feedback from 1,887 providers, medical group financial system users, and business office leaders.
Among over 200 core and niche RCM technology vendors, MedEvolve secured the top client experience rating in 12 out of 18 RCM-centric key performance indicators and was recognized as the overall highest-performing solution for medical RCM automation tools.
“With staffing issues still at the forefront of challenges for healthcare provider organizations, many are seeking ways to minimize manual workloads and automate tasks,” said Doug Brown, President of Black Book Research. “The demand for RCM workflow optimization and automation solutions is growing, making this category increasingly competitive. MedEvolve has been a strong contender since our inaugural physician group report in 2019 and for another consecutive year, they have commanded the top due to their ongoing innovations and advancements in the field. Their consistent commitment to improving efficiency and effectiveness in revenue cycle management has set them apart from other vendors, reflecting the evolving needs of the healthcare industry and the importance of cutting-edge automation solutions.”
Over 100 users of MedEvolve’s Effective Intelligence strongly confirmed the technology significantly reduces labor dependency through sophisticated automation of workflow tasks and enhanced task management, and by streamlining patient financial clearance processes, it effectively mitigates common denials and write-offs.
Full results can be found at https://blackbookmarketresearch.com/finance-revenue-cycle-management.
About Black Book
Black Book™ and its founder, management, and staff do not own or hold any financial interest in any vendors included in the RCM surveys, including MedEvolve. Black Book publishes the results of collected satisfaction and client experience rankings to the public and media before notifying vendors of their ratings. The organization does not solicit fees for vendor participation, review, inclusion, briefing, or collaboration, ensuring unbiased polling of vendors’ clients. For detailed information on methodology, auditing, resources, comprehensive research, and ranking data, visit www.blackbookmarketresearch.com or contact us at research@blackbookmarketresearch.com.
Source: Black Book Research
Review and assess your practice’s financial status in 5 min or less and know exact where you are losing money and why. Measure the work effort of every revenue cycle employee, incentivize and retain your top performers, and help employees that need improvement.
You can prevent most common denials, rejections and write-offs during the scheduling and pre-registration process in advance of the appointment. Configure checkpoints and use central task management to quickly clear patients and keep your front office staffing needs at a minimum.
Aligning the power of the MedEvolve Coding solutions with your internal resources personalizes and trains the autonomous coding model, increasing the speed that auto-codes are generated. The portal workflow also drives operational efficiency, resulting in repeatable and scalable performance.
As team members log in to the web-based application and record each “touch” of a claim, outcome, and next task, key data points are recorded like who completed the task and when, outcome, task notes, internal / external messages sent, collection success and other data points that feed into our real-time analytics.
Reduce RCM labor dependence with financial clearance, coding, insurance A/R, & patient A/R automation modules with real-time analytics.
Increase productivity and simplify front & back office processes while keeping your staff focused with our flagship PM system.
AI can help reduce waste & improve efficiency in the revenue cycle by analyzing human touches & making recommendations for waste reduction.
MedEvolve Rated Top Revenue Cycle Management Workflow Optimization and Automation Solution, 2024 Black Book RCM Client Survey
Healthcare organizations should focus on zero-touch rate—the percentage of insurance claims that require no human intervention for payment.
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