Data aggregation from internal data systems, vendors, and partners helps health systems reduce the cost to collect
(MUNCIE, Ind. – November 14, 2016) – Ontario Systems, a leading accounts receivable management (ARM) and healthcare revenue cycle management (RCM) software and services provider, introduced the Artiva HCx™ solution today, an integrated package of key products designed to manage insurance and self-pay receivables more efficiently with optimized revenue cycle processes and reporting analytics. By enabling a single experience for the patient, the solution will empower providers to meet their missions by increasing revenue, reducing the cost to collect, and improving patient satisfaction.
“Between reductions in provider reimbursements, increases in patient out-of-pocket receivables and evolving regulatory challenges, providers are facing mounting pressure on their margins. Those challenges have forced them to look at mergers or affiliations to maintain their community missions,” said Shawn Yates, Director, Healthcare Product Management at Ontario Systems. “The Artiva HCx™ solution helps providers overcome issues with separate data systems in those mergers or affiliations. By aggregating all of their data into one coherent process, health systems can provide a single patient experience that speeds reimbursement and removes confusion that often surrounds patient liabilities.”
The Artiva HCx™ solution enables healthcare providers by embedding key outside data resources that streamline and automate insurance and self-pay operational processes. By doing so, providers can gain efficiencies that substantially enhance productivity and increase cash recoveries. The new solution from Ontario Systems helps providers achieve these improvements with a fully-integrated patient engagement suite, allowing patients to interact with the provider on their terms and at their convenience.
Key components of the solution include:
- Embedded Data Services – Automated workflow productivity is boosted by “working smarter not harder” through integrated services that inform treatment strategies taken against both payer and patient liabilities.
- Insurance Receivables Management – Detailed work processes incorporating automated claims status monitoring and look-ahead processing when contacting payers, generating exception based workflows that maximize productivity. Integrated contact management tools to enhance productivity and ensure quality assurance.
- Denials Management – Aggregation of key denial CARC codes into subcategories to expedite follow-up and appeals tracking. Contact management tools are integrated to ensure quality assurance and promote enhanced productivity.
- Self-Pay Management – Prioritizing accounts with detailed segmentation, and identifying missing insurance and financial assistance to determine a custom contact strategy, executed with an integrated patient engagement platform.
- Reporting Analytics - Dashboards and reports targeting key performance indicators and productivity to support and drive business decisions. Performance reporting by multiple variables for each process with trending and snapshot analysis to manage execution.
- Strategy Analyst – Assigned industry expert with real life experience in the healthcare field to assist in using the solution and maximizing ROI.
“By providing a flexible, single-source solution for all revenue cycle actions, providers are able to manage patient interactions to create a better patient experience, and elevate patient satisfaction scores and reimbursements,” said Casey Stanley, VP, Product Management and Marketing at Ontario Systems. “Our solution provides recommendations to handle complicated follow-up processes with both insurance and patient, leading to cost savings and an increase in collected revenue.”
About Ontario Systems
Ontario Systems, LLC is a leading provider of revenue cycle management (RCM) and accounts receivable management (ARM) software, services and solutions to the ARM, healthcare and government industries. Established in 1980 and headquartered in Muncie, Ind., Ontario Systems also has a location in Vancouver, Wash., and employees in 27 states. Ontario Systems offers a full portfolio of software, services and business process expertise, including product brands such as Artiva RM™, Artiva HC™, Contact Savvy®, Columbia Ultimate and RevQ. Ontario Systems customers include eight of the 10 largest ARM companies and five of the 15 largest hospital networks in the U.S. With Ontario Systems’ solutions, hospital network customers actively manage over $40 billion in receivables collectively.