Revenue cycle management (RCM) can have a significant effect on a healthcare practice’s
cash flow. As such, investing in a quality RCM platform is an essential element of ensuring that physicians experience prosperous financial health. At Orlando’s annual Healthcare Information and Management Systems Society (HIMSS) Global Health Conference and Exhibition, a number of software companies presented new products designed to better RCM processes.
One such company is the healthcare revenue cycle management software-as-a-service (SaaS) platform nThrive, which presented an end-to-end revenue management platform at the conference. This platform contains several bundled solutions designed to help revenue cycle leaders with claims management, patient collections, charge capture, and regulatory compliance.
Kore.ai’s HealthAssist was also introduced at the conference. The artificial intelligence platform offers virtual communication via voice and digital interactions with many players in the healthcare realm, including patients, employees, agents, and consumers. According to Kore.ai, HealthAssist is an effective tool for improving engagement, handling costs, amplifying productivity, and maximizing care time. It provides an intuitive automated platform that has the potential to combat current staffing shortages in the healthcare industry, as automation allows medical staff more opportunities to focus on patient care.
Improving Satisfaction & Saving Time
Information technology corporation Cerner announced at the conference that it will be partnering with software company RevSpring, merging the latter’s payment solutions platforms PersonaPay, Talksoft, and IVR Advantage into existing Cerner platforms. According to RevSpring, PersonaPay offers real-time balance updates via Cerner software, thereby upgrading billing processes. Talksoft provides healthcare professionals with automated phone, text, and email messages, along with combining message timing with patient schedules. IVR Advantage provides patients with constant access to self-serve payments. RevSpring’s platforms aid in improving a healthcare practice’s payment performance while also improving patient satisfaction, which ultimately leads to healthier
financial results for both physicians and patients.
Another introduction at the conference was an interactive platform from patient engagement technology provider SONIFI Health. This platform aims to save clinical staff significant time by incorporating EMR integration features, automation processes, and enhancements to virtual care.
All in all, the conference offered several exciting options for streamlining the RCM process and improving the financial well-being of both physicians and patients.