BOWIE, Md., Oct. 04, 2022 (GLOBE NEWSWIRE) — Inovalon, a leading provider of cloud-based software solutions empowering data-driven healthcare, today announced the launch of RCM Intelligence. Powered by integrated analytics and advanced visualization capabilities, this software solution offers healthcare providers a comprehensive view of revenue cycle management (RCM) key performance indicators, including payer performance, denial percentages, and claim corrections. Additionally, this solution visualizes month over month payment trends and cash flow projections to drive decisive action that optimizes financial performance allowing providers to focus on patient care.
As healthcare providers face narrowing operating margins, the ability to easily identify operational issues leading to revenue leakage and accurately predict cashflow each month is business critical. Working in conjunction with the EASE™ All-Payer claims management solution, RCM Intelligence delivers providers real-time insights needed to review, monitor, and identify payer performance and payment trends resulting in data-backed revenue cycle improvements. Using the solution’s pre-configured, interactive dashboards and advanced analytics, revenue cycle leaders can glean actionable insights, such as which denials have the highest claim value, payer reimbursement timelines, and where claims delays are occurring. RCM Intelligence identifies root causes and suggests corrective actions to improve the number of claims that get paid at first submission, known as first pass yield, to drive revenue. RCM Intelligence also allows providers to measure and track their own financial performance against a 6-month historical average alongside an average of industry peers allowing them to model and plan more accurately.
“RCM Intelligence provides intuitive and interactive dashboards that make it easy to drill down to the information needed to help spot trends and make decisions to keep us moving forward,” said Curtis Glaunert, VP of Revenue Cycle, ProHealth Care.
“In an industry with lean operating margins, financial executives need integrated tools that allow them to better manage their revenue and cash flows,” said Eron Kelly, President, Inovalon. “Building on nearly 30 years of billing experience in healthcare, RCM Intelligence surfaces the information providers need to materially improve their revenue cycle management processes, today and well into the future.”
For more information on this new offering, visit https://www.inovalon.com/lp/rcm-intelligence/.
About Inovalon
Inovalon is a leading provider of cloud-based software solutions empowering data-driven healthcare. The Inovalon ONE® Platform brings together national-scale connectivity, real-time primary source data access, and advanced analytics to enable improved clinical outcomes and economics across the healthcare ecosystem. The company’s analytics and capabilities are used by more than 20,000 customers and are informed by the primary source data of more than 69.5 billion medical events across one million physicians, 611,000 clinical settings, and 350 million unique patients. For more information, visit www.inovalon.com/.
Contact:
Whitney Swistock
Sr. Communications Manager, Inovalon
Whitney.Swistock@inovalon.com
Source: https://www.globenewswire.com/news-release/2022/10/04/2527903/0/en/Inovalon-Launches-Revenue-Cycle-Data-Visualization-Software-Solution-for-Healthcare-Professionals.html