The VisiQuate payer management solution arms health care organizations with the data they need to manage payer relationships
SANTA ROSA, Calif., Jan. 3, 2023 /PRNewswire/ — VisiQuate’s Payer Action Center (PAC) has driven over $4M in revenue and significant time savings for a small cohort of early adopter healthcare systems. Using cutting-edge technology that finds and shares insights across healthcare systems, Payer Action Center has become a game changer for the relationships that healthcare organizations have with their payers. The technology and advanced analytics solution provides immediate actionable insights into payer behaviors and trends.
Brian Robertson, CEO at VisiQuate said, “Our clients are having more productive conversations that result in successful outcomes with their payers than ever before, because they have better data visibility at both a macro and micro level. Given the financial challenges that healthcare organizations are facing after a dismal 2022, effective collaboration with their payers has never been more essential for revenue cycle operations.”
With 42 million, or 18% of all claims denied in 2021, the trends across the country indicate that payer denials are still on the rise. One organization reported that their monthly denial inventory had risen 50%. Other organizations are seeing increases in time to remit. One large health system has seen an increase from 30 to 35 days recently. Another has seen an increase from 32.9 to 69.7 days, significantly impacting cash flow – a whopping 36.9 day change. While larger organizations may be able to absorb those kinds of delays, the risk is much more intense for smaller hospitals.
Using PAC, a west coast specialty hospital discovered one large commercial payer has been consistently denying all claims greater than $50k in gross charges. One of their senior leaders said, “Without the VisiQuate solution, we wouldn’t have seen this trend so quickly. It gave us the insights to immediately contact the payer to take action and seek resolution, which is invaluable.”
JK Kolmansberger, the co-founder of VisiQuate said, “We’re honored to be able to provide these insights to our clients. We founded VisiQuate 13 years ago to provide the technology and analytics for health care organizations to run their revenue cycle operations more efficiently, so that they can focus on their mission of delivering world class care to their patients. Our payer analytics have never been more relevant or essential than they are today. Our clients see immediate value from the insights that our solutions and expert services provides. We hear Payer Action Center quantifies payer behavior in an easily consumable way to enable a constructive conversation between the payer and provider.”
VisiQuate partners with healthcare organizations to guide them to peak business health, through expert-led, services-enabled technologies that dramatically improve performance and reduce process waste. We deliver optimized revenue cycle outcomes through a unique combination of complex data curation, smart workflows, deep AI & ML, advanced analytics and intelligent process automation. The company is headquartered in Santa Rosa, CA, with offices in Harrisburg, PA and Dallas, TX. Learn more about VisiQuate at www.visiquate.com or contact [email protected]