ZirMed Launches Analytics Product Provides Intelligent Key Performance Indicators and Reports to Manage the Healthcare Revenue Cycle
LOUISVILLE, Ky., Jan. 2, 2013 /PRNewswire/ -- ZirMed, Inc., a leading provider of software-as-a-service based revenue cycle management solutions, announced today that ZirMed will offer clients who subscribe to their industry-acclaimed Claims Management and Electronic Remittance Advice solutions - a free 60 day trial of Analytics. ZirMed's new Analytics is an intelligent business solution to help healthcare providers effectively and efficiently manage their revenue cycle.
ZirMed's Analytics provides healthcare decision makers with insightful, detailed performance data featuring push Key Performance Indicators (KPIs), visually dynamic graphs and detailed reports of their practice's revenue cycle. ZirMed has over a 150,000 National Provider Identifications (NPIs) and processes over a half a billion healthcare transactions a year across the nation. Analytics utilizes de-identified data to benchmark individual provider measures against others in the industry.
"ZirMed's goal is to link providers, patients and payers to improve the flow of healthcare data and then capture each transaction to be the source of actionable insights and predictor of future outcomes. We want our clients to try Analytics so they clearly see their practice's measurements and can identify areas that need improvement. Making one simple change can yield a significant impact to a business, Analytics can be that consultative partner to enhance any practice's performance," says Tom Butts, CEO of ZirMed.
The power of ZirMed's Analytics identifies KPIs that are performing below the database's national averages and alerts decision makers to dive into their reports a little deeper. If trends or issues need further research, Analytics has the capability of drilling down into a line-by-line review of the organization's business to uncover problem areas that can be corrected so decision makers can focus on continuous improvement and day-to-day operations.
"Our product development team has extensively researched which KPIs are most important to a healthcare provider's business. Providers are very busy and are responsible for many different functions; we want to simplify the financial management of their business and allow them to focus on providing patient care. Clients that subscribe to Analytics now have actionable alerts and easy to understand dynamic visuals integrated directly into our software. We've even provided the most relevant KPIs to our users on their home page so their performance is always up-front and center every time they log-in. We actually leaked a view to some clients a few weeks ago and the response was tremendously positive. We are excited to see the immediate impact that Analytics will have on our clients' businesses!" says Ric Sinclair, Director of Product Management and Development at ZirMed.
ZirMed's Analytics highlights reports and KPIs that cover $0 paid and denied claims, adjustments by procedure, payer and category codes, at risk procedure codes, average A/R days, patient ineligibility and financial responsibility and many other data points. ZirMed is confident that regardless if it is an individual physician practice to an integrated delivery network, Analytics will provide valuable actionable insights into their business.
Clients on a 2012 KLAS Report said, "I like the reports that I get from ZirMed. I have a dashboard that helps me work my claims and get the information I need. ZirMed has been a great partner for our organization. They have helped us maximize our efforts with great results."
"In a recent KLAS survey our customers rated us the highest among our peers in ICD-10 confidence with the fewest 5010 problems, strong reported A/R days, along with easy-to-use and highly rated claims and editing tools. We are very happy that our clients see the value and innovation ZirMed brings to their business and there is no better recognition than when they share successes with their peers. Our new Analytics Suite should continue making our clients some of the most satisfied in the industry," says Ken Edwards, VP of Client Support at ZirMed.
ZirMed is a nationally recognized leader in delivering revenue cycle management solutions, serving more than 150,000 healthcare providers. ZirMed leverages the power of technology to cure administrative burdens and increase cash flow, enabling providers to not just survive but thrive. ZirMed solutions include eligibility verification, credit/debit card processing, check processing, claims management, coding compliancy and reimbursement management, electronic remittance advice, patient statements, patient e-commerce solutions, and lockbox services. ZirMed is rated amongst the top in KLAS, and has been a multi-year recipient of Inc.magazine's 500/5000 fastest growing companies and Healthcare Informaticsmagazine's Top 100 Companies awards. For more information about ZirMed, visit www.ZirMed.com.
SOURCE ZirMed, Inc.