Passport® teams with Ovation Revenue Cycle Services to enable healthcare providers to increase cash flow
Collaboration to streamline the medical claim status process provides more timely notification of medical claim status
Franklin, Tenn., Nov. 10, 2014 — Experian Health and Passport®, the healthcare industry leader for a single revenue cycle platform, today announced that they have joined forces with Ovation Revenue Cycle Services, a subsidiary of UPMC, to provide healthcare organizations with a more optimized claim status process. Hospitals and medical providers now will be able to confirm the status of a claim earlier in the process and identify if it has been lost, denied or pended and/or is a return-to-provider transaction, allowing them to reduce manual follow-up time and increase cash flow.
“Receiving enriched claim status information is a crucial part of the revenue cycle process. It has allowed UPMC to accelerate cash flow by beginning to analyze claims that require manual intervention much earlier in the cycle,” said April Langford, CEO of Ovation Revenue Cycle Services and vice president of finance for Revenue Cycle Innovation at UPMC. “This not only accelerates cash flow as staff are given a significant jump-start on resolving claim denials prior to receiving the remittance, but it also has reduced UPMC’s controllable write-offs by 75 percent and the denial rate by 85 percent.”
Passport’s Claim Status Portal will leverage Ovation Revenue Cycle Services’ robust payer connections, as well as other industry resources, to provide healthcare organizations with access to claims status information from more than 300 health insurers nationwide. In addition to the enhanced data coverage, users will be able to access payer information in one to two business days, enabling them to respond quickly to accounts that previously have been delayed in the claims process.
Additionally, users will have access to an enhanced American National Standards Institute claim status response that will provide additional data elements retrieved directly from a health insurer’s Website, including proprietary remark codes and descriptions, information on pending or suspended claims, and details on denied claims. This level of insight will help healthcare organizations improve productivity by focusing on the accounts that require the most attention.
“We are proud to work with Ovation to connect hospitals and medical care providers with the data and insight to help improve the claims process,” said Scott Bagwell, president of Experian Health and Passport. “With the information that Claim Status Portal provides, healthcare organizations will be able to take the appropriate action on outstanding claim adjudication issues, dramatically reducing or eliminating the need to call a payer or manually look things up on the payer’s Website while simultaneously increasing their cash flow. This is another touchless process allowing providers to maintain a financially sound revenue cycle.” (more…)