MILWAUKEE, May 6, 2020 /PRNewswire/ -- Sift Healthcare, a Milwaukee-based data science and analytics company, has announced the launch of Rev/Track, a powerful dashboard and reporting tool for healthcare payments. Rev/Track leverages Sift's AI and predictive modeling to deliver robust intelligence around payments behavior, insurance denials, collection trends, patient segments and revenue cycle work efforts.
Rev/Track provides revenue cycle leaders with instant access to interactive dashboards and detailed reports that make it easier than ever to extract meaningful insights from healthcare payments data and to make better informed decisions around revenue cycle operations.
Built on Sift Healthcare's comprehensive data platform, Rev/Track create a single source of truth for healthcare payments data, organizing payments data (including 835's, 837's, patient billing data, call data and more) into a cloud-based and HIPAA-compliant relational database. Rev/Track presents organized and normalized payments data and, in concert with Sift's predictive modeling, allows users to visualize patient segments, denials trends and the various attributes that impact payment behavior.
From reviewing high-level KPIs to drilling down into the performance of individual payers, patient segments, procedure codes and more, Rev/Track equips revenue cycle leaders at organizations of all sizes to:
Monitor key metrics around insurance denials and patient collections.
Track denial and liquidation rates over time and isolate the impact of different payer types, payers, facilities, procedures, CARC themes and reason codes.
Understand how receivables are aging and how collections measure up against targets.
Evaluate the impact and quality of collection strategies and revenue cycle work efforts.
Eliminating the extensive time and work healthcare providers and RCMs traditionally spend organizing data and constructing reports, Rev/Track makes accessing actionable revenue cycle intelligence easy and efficient.
"In the current environment, as payment trends are rapidly changing, it is essential for healthcare providers and RCMs to have detailed reporting that clearly shows how their payments behave and how effective their work efforts are in driving revenue," said Justin Nicols, Sift Healthcare's Founder and CEO. "We've seen Rev/Track provide immediate value for revenue cycle leaders, making it possible for them to proactively respond to payment trends and track the impact of their efforts."
Rev/Track is available in conjunction with Sift Healthcare's predictive analytics and machine learning integrations for both insurance denials and patient payments.
About Sift Healthcare Sift Healthcare is a Milwaukee-based healthcare payments analytics and data science company. Sift's data platform, dashboards and reporting, machine learning integrations and C-Suite intelligence tools equip healthcare providers with meaningful insights and powerful workflow enhancements for the revenue cycle.