Updated on 8 July 2014
Provided at a competitive price, hospitals and other healthcare providers may purchase the enterprise-wide revenue cycle management solution. With an ROI that is typically measured in days instead of months, healthcare providers realise savings almost immediately. Just within two weeks, the systems are up and running, and individual users can create and share basic reports.
One of the success stories of information optimisation is about a children's hospital. The hospital bills services every 14 days, regardless of the length of stay of individual patients. However, the services occurring in these cycles are joined in batches for insurance companies, providing an inaccurate picture of the patient's stay. This often results in the insurance company rejecting the claim because the automated bills do not match the batch claims. Now, using Information Optimisation, the hospital can consolidate service dates with dates on batch reports to produce a complete date range and an itemised bill.
With all the benefits information optimisation bring, it can be seen that this solution is one that healthcare providers can get excited about, as they use data to cut costs and streamline services.