EMERYVILLE, Calif., June 21, 2016 /PRNewswire/ -- MedeAnalytics, a pioneer in healthcare analytics, today announced it will introduce its next-generation Business Office solution at the HFMA National Institute (ANI) being held in Las Vegas, Nevada from June 26-29, 2016. Business Office offers data analytics at the point in the revenue lifecycle that has the greatest influence on an organization's financial viability and supports the journey to value-based reimbursement (VBR).
The next-generation Business Office solution provides insight into revenue and cost saving opportunities by bringing complex patient accounting data into a unified view. The robust denials management and self-pay analytics functionality helps providers accelerate cash collections, reduce bad debt and expose accounts receivable (AR) outliers and bottlenecks while optimizing collections workflow. It also empowers providers with several key benefits, including the ability to create real-time reports and complete data analysis with metrics on:
- Denial recovery opportunity, root cause by department and missing information denials
- AR past expected payment date, time to pay and black hole accounts
- Predictive payment score, average household site/income and Federal Poverty Level (FPL) %
- Profit and loss impacts by month, AR run-outs and net revenue
- Contribution margin, net income and profitability by service line
Brookwood Baptist Health, the largest primary care network in the state of Alabama and a MedeAnalytics client, will be leading an educational session on how they leveraged analytics in their business office to seamlessly transition to a new Electronic Health Record (EHR) system without negatively impacting patient satisfaction and Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) scores. The session will take place on Tuesday, June 28 from 2:00 – 3:15 p.m. PT in the Veronese hall, room 2402.
"Healthcare's financial landscape has never undergone such a wholesale transformation and now more than ever it is critical for providers to understand and avoid preventable expenses, such as those associated with denials and collections," said Andrew Hurd, CEO of MedeAnalytics. "We're thrilled with the results Brookwood Baptist Health has achieved by leveraging analytics to uncover insights into their financial operations while doing the heavy lift associated with their EHR transition."
MedeAnalytics will be conducting Business Office demonstrations in booth 1030 throughout the conference.
To schedule a private demo while at ANI, please click here.
MedeAnalytics provides evidence-based insights to solve a real problem that plagues healthcare – how to use the immense amount of patient data collected along the care continuum to deliver cost-effective care and promote a healthier population. Its analytics platform delivers intelligence that helps healthcare organizations detect their greatest areas of risk and identify opportunities to improve their financial health. It empowers providers and payers to collaborate and use data to strengthen their operations and improve the quality of care. MedeAnalytics' cloud-based tools have been used to uncover business insights for over 1,500 healthcare organizations across the United States and United Kingdom. The company has also been named one of Modern Healthcare's top 100 Best Places to Work in Healthcare for 2014 and 2015. For more information, visit www.medeanalytics.com.
Amy Ferretti, Senior VP, Marketing
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