What You Should Know:
– Olive, the automation company creating the Internet of Healthcare, today launched its Autonomous Revenue Cycle (ARC), the company’s flagship Revenue Cycle Management (RCM) suite of solutions.
– Olive’s ARC is designed to handle tedious, time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid quicker while reducing the risk of uncompensated care.
Automate the Revenue Cycle Management Process
Managing revenue cycle shouldn’t require health systems to navigate through multiple systems and reports to pull together information and patient data. RCM demands intelligent automation and a solution that works directly with existing EHR to execute tasks. Olive’s ARC is designed to handle tedious, time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid quicker while reducing the risk of uncompensated care. Olive’s ARC integrates with existing electronic health record (EHR) and practice management systems to leverage an organization’s data sources and claims data to become more intelligent and efficient over time. Olive’s ARC was built on the foundation of Olive’s Clearinghouse solution.
Olive’s ARC powers solutions in:
Patient Access: Improves the patient’s financial experience and reduces the burden on healthcare organizations by automating the financial clearance process, including verifying insurance eligibility, detecting insurance coverage, identifying benefits, determining the likelihood of a patient to pay, and flagging potential opportunities for patients who may be eligible for financial assistance.
Reimbursement Management: Ensures claims are submitted correctly to payers for first-pass adjudication, reducing denials and underpayment risk. Claim status checks are automated so billing teams prioritize claims needing the most attention. Olive also takes corrective action on denials, such as missing medical records attachments, to reduce manual and labor-intensive denial-related workflows to yield higher reimbursement potential.
“Capturing accurate patient information for billing and medical records is critical to ensuring patients can receive the care they need when they need it, ” said Rohan D’Souza, Chief Product Officer, Olive. “With ARC, Olive is transforming what it means to be a clearinghouse by marrying our intelligent automation and machine learning capabilities to transform healthcare organizations’ workflows to become smarter, more efficient, drive more revenue capture and improve patient care. Olive’s ARC aims to take the work away so organizations can deliver quality care.”
