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Wednesday, May 22, 2024

athenahealth - Optimize RCM with Technology and Expertise

When it comes to the healthcare space, Revenue cycle management (RCM) is a critical process for healthcare providers, as it involves the collection, management, and processing of patient financial data, including billing and reimbursement. However, there are several challenges associated with RCM that can impact a provider’s ability to collect and manage revenue effectively. Especially, insurance plans and policies can be complex, and navigating the requirements and regulations can be a challenge for healthcare providers. Different insurers may have different requirements for billing and reimbursement, and providers may need to submit different forms and documentation for each insurer. Meanwhile, data inaccuracies can occur at any point in the revenue cycle, from patient registration to coding and billing, and can be caused by human error or system issues. This is in addition to the compliance violations that can result in significant fines and penalties, where providers must stay up-to-date on the latest regulations and ensure that their billing and reimbursement processes are compliant. Additionally, integrating different systems and technologies can be a challenge, leading to data inconsistencies and errors. Challenges associated with revenue cycle management can impact a provider’s ability to collect and manage revenue effectively, but with the right processes, systems, and training in place, providers can overcome these challenges and optimize their revenue cycle management process. This is where athenahealth is creating a difference. athenahealth is a leading healthcare technology company that offers a range of cloud-based services and software solutions to healthcare providers and organizations.

Founded in 1997 by Jonathan Bush and Todd Park, athenahealth has grown to become a major player in the healthcare technology space, serving over 160,000 healthcare providers across the United States. Today, athenahealth’s mission is to provide innovative technology solutions that help healthcare providers improve patient outcomes, increase efficiency, and reduce costs. The company’s platform includes a variety of tools and services designed to streamline clinical workflows, improve communication between providers and patients, and enhance overall patient care.

Simplifying Health Records

One of athenahealth’s advanced solutions is its electronic health record (EHR) software, which allows healthcare providers to access and manage patient data in real-time. The software is designed to be intuitive and easy-to-use, with features such as voice recognition and intelligent search that make it simple for providers to find the information they need quickly and efficiently. athenahealth’s EHR software also includes tools for clinical decision support, which helps providers make more informed treatment decisions based on patient data and evidence-based guidelines. The platform’s population health management capabilities allow providers to identify and manage patients with chronic conditions more effectively, while also monitoring population health trends and identifying areas for improvement.

Whether a small independent practice or a large, complex healthcare organization, athenahealth has the technology and expertise to optimize revenue cycle. The companay’s diverse portfolio of cloud-based and hosted products and services can help drive efficiency from patient registration right through performance reporting. Moreover, knowing an organization is continuously evolving to meet tomorrow’s challenges, and have made its technology flexible. As a business grow, consolidate, and change, athena’s products and services scale to match those needs and help reach business goals along the way.

The company’s revenue cycle management solution is optimized for large practices, health systems, billing services, and hospitals. It reduces A/R days and drives down the cost of collections by increasing automation, reducing redundancies, and fostering best practice workflows. It helps to free staff of routine work so they can focus on new challenges. Powerful automation tools evaluate and perform routine A/R follow-up tasks independent of the team. “ Our interoperability approach includes investment, collaboration with leading standards bodies, and the ability to integrate with all leading EMRs.”

Streamline Billing and Reimbursements

In addition to its EHR software, Athenahealth offers a range of other services and tools designed to support healthcare providers. These include revenue cycle management services, which help providers manage billing and reimbursement processes more efficiently, as well as patient engagement tools that allow patients to communicate with their providers and access their health information online.

Athenahealth’s revenue cycle management services are designed to help healthcare providers streamline billing and reimbursement processes, reduce administrative burdens, and improve financial performance. The company’s software automates many of the billing and coding processes, reducing errors and helping providers get paid more quickly and accurately. “Because we know you’re not a cookie-cutter organization. Our RCM experts take the time to understand your unique needs and implement a solution with the right workflows to support your goals. It’s our tailored approach to RCM that helps hospitals achieve powerful financial outcomes.”

Another innovative offering from the company is by enabling to improve staff productivity and adherence to best practice workflows with athenahealth Gamify. This staff-facing, game-like experience sits on top of the athenaIDX RCM system and drives increased engagement from a billing team by allowing them to earn points for their performance and compete with fellow team members. Businesses can achieve game-changing analytics by turning billing tasks into a game that drives up performance and productivity. athenahealth Gamify is the game that helps healthcare organizations achieve better revenue cycle outcomes. By gamifying their revenue cycle workflows with athenahealth Gamify, businesses were able to increase productivity in credit balance by 31%, in customer service by 21%, and in bills productivity by 18%. This is in addition to the task lag  that was also reduced by 10%.

athenahealth’s patient engagement tools include patient portals and mobile apps that allow patients to communicate with their providers, view their health information, and manage their appointments and medications online. The platform also includes telemedicine capabilities, which allow providers to conduct virtual consultations with patients and offer remote care services. Another key feature of Athenahealth’s platform is its network of healthcare partners and providers. The company works with a range of healthcare organizations, including hospitals, medical practices, and other providers, to create a seamless and integrated healthcare experience for patients. This network also allows providers to share information and collaborate more effectively, improving overall patient care.

Being a pioneer in RCM, athenahealth offers a range of innovative services and solutions to healthcare providers and organizations. With its focus on improving patient outcomes, increasing efficiency, and reducing costs, athenahealth is helping to transform the healthcare industry and improve the lives of patients across the globe.

athenahealth
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Bob Segert, Chairman & CEO

athenahealth.com

“Our RCM experts take the time to understand your unique needs and implement a solution with the right workflows to support your goals. It’s our tailored approach to RCM that helps hospitals achieve powerful financial outcomes”

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