What You Should Know:
– Inovalon, an innovator in cloud-based healthcare data solutions, announced a strategic partnership with the MEDITECH Alliance.
– The strategic collaboration empowers thousands of healthcare providers using MEDITECH’s electronic health record (EHR) systems to leverage Inovalon’s end-to-end revenue cycle management (RCM) solutions.
Optimizing Reimbursement and Reducing Errors
The partnership tackles a significant challenge in healthcare: inefficient claims processing leading to delayed reimbursements and lost revenue for providers. Inovalon’s solutions address this issue by:
- Improved Efficiency and Accuracy: Inovalon’s Claims Management Pro and Eligibility Workflow solutions streamline the revenue cycle process, minimizing errors and ensuring claims are submitted accurately. This translates to:
- Reduced denials
- Faster reimbursements
- Improved cash flow for healthcare providers
- Leveraging Powerful Data and Analytics: Inovalon’s RCM solutions are built upon the Inovalon ONE® Platform. This platform utilizes the industry’s largest collection of de-identified healthcare data, combined with advanced analytics, to provide valuable insights that optimize RCM processes.
Benefits for MEDITECH Customers
MEDITECH’s extensive network of healthcare provider customers will gain significant advantages through this partnership:
- Reduced Costs: Improved claims accuracy and faster reimbursements lead to reduced administrative costs associated with denied claims and follow-up efforts.
- Enhanced Patient Satisfaction: Faster claim processing translates to quicker payment for patients, improving the overall patient experience.
- Increased Revenue: Inovalon’s solutions are designed to maximize reimbursements, minimizing revenue loss for providers.
Inovalon’s Proven Solutions
Inovalon’s RCM solutions have a proven track record of success:
- Claims Management Pro: This solution boasts a 99% or better first-pass acceptance rate for patient claims, significantly reducing denials and delays.
- Eligibility Workflow: By expediting all-payer eligibility verifications, this solution ensures claims are submitted with accurate patient information, minimizing errors and maximizing efficiency.
“Inovalon is proud to be a MEDITECH Alliance partner as we remain committed to delivering industry-leading EHR-integrated RCM capabilities for providers across the country,” said Julie Lambert, President and General Manager of Inovalon’s Provider Business Unit. “Our partnership with MEDITECH will empower providers with proactive insights and streamline their financial operations to keep revenue flowing so they achieve greater efficiency, maximum reimbursement accuracy, and focus on enhancing clinical outcomes and patient experiences.”