The Power of Effective Intelligence to Overcome Revenue Cycle Management Challenges
Effective Intelligence Solutions Drive Workforce Optimization and Incentive Based RCM at Strategic Practice Solutions
Strategic Practice Solutions medical billing company optimized revenue cycle workforce with Effective Intelligence workflow automation & real-time analytics.
The organization is realizing better bottom-line performance with fewer FTEs. Zero touch claims that require no human intervention now account for 62.2% of total. Overall closed balance NCR is 98%—above the industry benchmark of 97%. 57% of self-pay revenue comes from mobile engagement.
First 3 months with MedEvolve Effective Intelligence, Falck achieved their highest collection months in March & April 2021, up 24% from previous 10 months.
South County Urological Uses MedEvolve Workflow Automation to Streamline Financial Clearance and Improve the Patient Experience
Since implementing MedEvolve Patient Financial Clearance Workflow, COB denials are down 75%, patient payments are up 15% and point of service collections are up
Analytics and AI-Driven Workflow Automation Enable RCM Centralization and Revenue Growth for MidLantic Urology
Prior to workflow automation, MidLantic anticipated needing to hire 8 employees and create a new department focused solely on A/R to support the centralized billing office. However, by streamlining RCM processes through workflow automation and focusing only on the 10-20% of claims that need to be worked each day, MidLantic cut their anticipated staffing requirements in half without adding a new department.
Once you show the data from Medevolve’s revenue cycle analytics to a new physician, most of them become data driven. It allows that monthly, weekly, or daily reporting for physicians that want to keep up with what is happening. I can show them trend analysis over three months and determine what changes need to be made like how many new patients they need to achieve their goals.