What You Should Know:
– AGS Health, a provider for tech-enabled revenue cycle management (RCM) solutions announces the acquisition of the India-based patient access outsourcing business unit of the Florida-based healthcare technology company Availity.
– With more than half of U.S. hospitals anticipating a year of negative margins, achieving full and accurate reimbursement for services has never been more critical. With this expansion, AGS Health is positioned to provide faster, more flexible financial clearance solutions at an even greater scale to help increase customers’ first-pass reimbursements rates.
The acquisition allows AGS Health to expand the capabilities of the AGS AI Platform with new technology to enhance accuracy and scalability and further streamline patient access operations. The technology platform is capable of automatically determining, submitting, and verifying the status of prior authorization requests. Additionally, estimates of the patient’s out-of-pocket cost can be automatically generated based on payer rules set by the healthcare organization.
The move will also add approximately 200 patient access service team members to AGS Health’s global team of more than 11,000 college-educated, trained RCM experts. With labor shortages devastating all areas of the healthcare system, outsourced services are more critical than ever – particularly as financial clearance performance depends on access to qualified, skilled labor.
“At AGS Health, our focus is greater financial freedom for healthcare organizations, allowing them to reinvest in their vision for superior patient care,” says AGS Health CEO Patrice Wolfe. “With this acquisition, we can better equip our customers with the tools and expert services necessary to help overcome payer complexities, reduce denial rates, mitigate revenue leakage, and accelerate cash flow on the back end.”