About Health check inc
Health Check Inc: Revolutionizing Healthcare Revenue Cycle Management with Cloudmed's Award-Winning Revenue Intelligence™ Solutions
Healthcare revenue cycle management is a complex and challenging process that involves multiple stakeholders, including patients, healthcare providers, insurance companies, and government agencies. The goal of revenue cycle management is to ensure that healthcare providers receive timely and accurate payments for the services they provide while minimizing administrative costs and maximizing patient satisfaction.
However, the healthcare revenue cycle is fraught with inefficiencies, errors, and frauds that can result in significant financial losses for healthcare providers. According to a recent report by the American Medical Association (AMA), claim denials cost US medical practices an estimated $15 billion annually.
To address these challenges, Health Check Inc has partnered with Cloudmed to offer award-winning Revenue Intelligence™ solutions that help healthcare providers recover more revenue across the entire revenue cycle. With over 20 years of experience in healthcare analytics and technology solutions, Cloudmed has developed a suite of innovative tools and services that enable healthcare organizations to optimize their financial performance while improving patient outcomes.
At Health Check Inc., we understand the importance of effective revenue cycle management for our clients' success. That's why we have chosen to partner with Cloudmed as our preferred provider of Revenue Intelligence™ solutions. Our team of experienced consultants works closely with our clients to identify areas where they can improve their financial performance through better data analysis, process optimization, and technology adoption.
Cloudmed's Revenue Intelligence™ solutions are designed to address key challenges in each stage of the revenue cycle:
1) Patient access: By leveraging advanced analytics tools such as predictive modeling and machine learning algorithms, Cloudmed helps healthcare organizations identify high-risk patients who are likely to experience coverage issues or payment delays. This enables them to proactively engage these patients before they become delinquent or seek care elsewhere.
2) Charge capture: Accurate charge capture is critical for ensuring timely reimbursement from insurance companies. However, many billing systems lack transparency or automation features that can lead to missed charges or coding errors. With Cloudmed's Charge Capture Optimization solution powered by AI/ML algorithms ensures accurate charge capture resulting in increased revenues
3) Claims processing: Insurance claims processing is often slow due to manual processes involved which leads into delayed payments causing cash flow issues for hospitals & clinics.CloudMed’s Claim Scrubber solution automates this process using AI/ML algorithms which reduces claim denials & rejections resulting into faster reimbursements
4) Denial management: Denied claims are one of the biggest sources of lost revenues for healthcare providers.CloudMed’s Denial Management solution uses advanced analytics tools such as root cause analysis & predictive modeling techniques which helps hospitals & clinics reduce denial rates significantly
5) Payment integrity: Payment integrity refers to ensuring accuracy in payment amounts from payers.CloudMed’s Payment Integrity solution uses proprietary algorithms which identifies underpayments ,overpayments ,duplicate payments etc..which results into increased revenues
By leveraging these innovative solutions from Cloudmed along with our expertise at Health Check Inc., we help our clients achieve significant improvements in their financial performance metrics such as net collection rate (NCR), days sales outstanding (DSO), denial rate etc.. We also help them improve patient satisfaction by reducing billing errors ,denials & rejections .
In conclusion ,Health Check Inc.'s partnership with cloud med provides an end-to-end approach towards optimizing your hospital / clinic 's financial health .Our team works closely with you throughout your journey towards achieving optimal results .We believe every hospital / clinic deserves access cutting-edge technology like cloud med's award winning Revenue intelligence ™ platform so they can focus on what matters most - providing quality care!