Change Healthcare has unveiled a new version of Acuity Revenue Cycle Analytics that adds front-end patient access analytics to expand its revenue cycle intelligence portfolio. Available now, hospitals and health systems using Acuity Revenue Cycle Analytics can more readily understand the interdependencies and influences across the revenue cycle from the first moment they touch a consumer all the way through claims submission, processing, billing, and payment.
One reason why revenue cycle managers struggle to optimize their processes is because they lack the ability to analyze how revenue flows through every phase of the cycle and what is slowing it down. That’s because most providers have insufficient analytics or may only be able to analyze siloed segments of the revenue cycle. Now, using Change Healthcare Acuity Revenue Cycle Analytics, they can gain a holistic view from the beginning to the end of the revenue cycle and fine-tune their operations for optimal performance.
With visibility into eligibility, estimation, pre-authorization, and medical necessity, as well as the relationships between processes that span departments and systems, revenue cycle managers now can make decisions to better manage consumer experiences, promote accurate and timely payment from patients and payers, and improve patient access team management. Specifically, Change Healthcare Acuity Revenue Cycle Analytics helps providers to:
– Readily access the data that matters most, regardless of where it resides in the revenue cycle: Views of revenue cycle performance data—historical, real-time, and within and across facilities — are available through a customizable KPI dashboard. Provider revenue cycle managers get near real-time information and can set customer performance alerts without involving IT resources.
– Identify issues impeding revenue and address them: Acuity Revenue Cycle Analytics taps the Change Healthcare database of over 3.4 billion healthcare financial transactions, including eligibility, authorization, estimation, claims, and remittance data, to support root-cause analysis. This knowledge lets providers monitor patient access team productivity and accuracy to remediate problems and help speed the claims process and cash flow.
– Analyze the full revenue cycle to rein in the departmental ripple effect: Acuity Revenue Cycle Analytics’ holistic view of the revenue cycle shows how disparate departments—across the revenue cycle continuum, from front-end to back-end—affect one another and influence speed and accuracy of payment from payers and patients.
– Improve accuracy of consumer estimates: Acuity Revenue Cycle Analytics makes it easy for providers to understand how estimated patient charges compare to actual adjudicated insurance benefits, whether patient responsibilities are being accurately estimated up front, and whether those estimates are being leveraged to drive higher point-of-service collections.
“When it comes to optimizing the revenue cycle, you can’t resolve issues that you’re not aware of,” said Marcy Tatsch, senior vice president and general manager, Reimbursement and Analytics Solutions, Change Healthcare. “Most providers are not getting the complete picture from their analytics tools. We’ve invested in a new version of Acuity Revenue Cycle Analytics, now with critical patient access capabilities, including eligibility, estimation, pre-authorization, and medical necessity, to help our customers analyze the entire revenue cycle continuum, and let them reconcile back-end financial outcomes with front-end processes.”
