Omega Healthcare Launches Technology-Enabled Solutions to Improve Revenue Cycle Outcomes as Healthcare Organizations Face Mounting Financial Pressures
The Omega Digital Platform (ODP) leverages advanced proprietary technologies to streamline workflows and improve financial performance
BOCA RATON, Fla., Oct. 9, 2023 /PRNewswire/ -- Omega Healthcare announced today the launch of its Omega Digital Platform (ODP), designed to help healthcare organizations reduce administrative burdens while improving financial performance.
"With rising costs and ongoing staffing shortages, healthcare organizations need technology-enabled solutions that empower them to focus on delivering care and improving the patient experience," said CEO and Co-Founder Anurag Mehta. "We are excited to bring cutting edge technology advancements through the Omega Digital Platform and will continue to innovate to help our customers solve their most pressing challenges."
Utilizing deep domain and technology expertise in artificial intelligence (AI), robotic process automation (RPA) and bots, machine learning (ML), and natural language processing (NLP), Omega Healthcare's technology-enabled solutions drive greater efficiency and accuracy. These capabilities help reduce human intervention across critical revenue cycle functions, allowing clients to redeploy staff, increase employee and patient satisfaction, and improve financial outcomes. Omega Healthcare partners with provider organizations across the United States, empowering them to achieve outcomes such as: reducing coding costs while maintaining greater than 95 percent accuracy; realizing a 30 percent average reduction in accounts receivable (A/R) days; improving collections by 10-20 percent; and driving a significant reduction in denial rates.
"Over the years, Omega Healthcare's technology, designed to improve clinical documentation powered by an easy-to-use analytics platform, has consistently helped us increase our revenues while decreasing our costs," said George Hertner, MD, FACEP, Chief of Emergency Medicine for the Memorial Health System Emergency Departments and the President of Emergency Medical Specialists, PC (EMSPC). "We are excited to hear about the expanded technology solutions from Omega Healthcare through the launch of their ODP and believe this will help further streamline our end-to-end revenue cycle operations while enabling us to focus on what matters most – caring for our patients."
PREDICT Workflow Engine and a Digital Workforce
The PREDICT workflow engine, a vital component of the ODP, utilizes AI through advanced proprietary algorithms and robust datasets. With predictive capabilities, preventive measures, and intelligent prioritization, PREDICT empowers clients to prevent issues before they happen.
In addition, an automated digital workforce through RPA helps clients reduce repetitive tasks and improve accuracy, while freeing up staff and providers to focus on more strategic tasks and direct patient interaction.
End-to-end Revenue Cycle Management Solutions
The ODP enables end-to-end Revenue Cycle Management Solutions across Patient Access, Mid-Revenue Cycle, and Business Office functions to help clients reduce revenue leakage. Effective revenue cycle management (RCM) is critical for provider organizations today, where increasing denials and compliance rules can challenge the financial viability of even the most advanced organizations. Leveraging the industry's leading claims management system along with purpose-built technologies, Omega Healthcare can help organizations supplement existing functions or manage the entire revenue cycle to help prevent denials, enhance coding quality and compliance, and improve cash flow.
This announcement was made in conjunction with the American Health Information Management Association (AHIMA) 2023 Annual Conference. Omega Healthcare is exhibiting at AHIMA23 (Booth 311) and will co-present how it used its technology to engage with physicians at a prominent regional hospital to improve coding compliance and financial outcomes.
About Omega Healthcare
Founded in 2003, Omega Healthcare empowers healthcare organizations to deliver exceptional care while enhancing financial performance. We help clients increase revenues, decrease costs, and improve the overall patient-provider-payer experience through our comprehensive portfolio of technology and clinically enabled managed outsourcing solutions. Omega Healthcare has 30,000 employees across 14 delivery centers in the United States, India, Colombia, and the Philippines. For more information, visit www.omegahms.com.
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