What it is best to know:

– Inovalon, an innovator in cloud-based healthcare knowledge options, has introduced a strategic partnership with the MEDITECH Alliance.

– The strategic partnership will allow 1000’s of healthcare suppliers to make use of MEDITECH's digital well being report (EHR) methods to leverage Inovalon's end-to-end Income Cycle Administration (RCM) options.

Optimizing reimbursements and lowering errors

The partnership addresses a key problem in healthcare: inefficient claims processing that leads to delayed reimbursements and misplaced income for suppliers. Inovalon options tackle this drawback by:

• Improved effectivity and accuracy: Inovalon's Claims Administration Professional and Eligibility Workflow options streamline the income cycle course of, decrease errors and guarantee claims are submitted precisely. This interprets to:
  • Fewer refusals
  • Quicker refunds
  • Improved money stream for healthcare suppliers
• Leverage highly effective knowledge and analytics: Inovalon's RCM options are constructed on the Inovalon ONE® Platform. This platform leverages the {industry}'s largest assortment of anonymized healthcare knowledge, mixed with superior analytics, to offer helpful insights that optimize RCM processes.

Advantages for MEDITECH clients

MEDITECH’s in depth community of healthcare suppliers will obtain important advantages by means of this collaboration:

• Decrease prices: Improved claims accuracy and quicker reimbursements result in diminished administrative prices related to denied claims and follow-up efforts.
• Improved affected person satisfaction: Quicker claims processing means quicker payout for sufferers, enhancing the general affected person expertise.
• Elevated turnover: Inovalon's options are designed to maximise reimbursements, minimizing income losses for suppliers.

Inovalon's confirmed options

Inovalon's RCM options have a confirmed observe report of success:

• Declare Administration Professional: This resolution encompasses a 99% or higher first-pass acceptance price for affected person claims, considerably lowering denials and delays.
• Eligibility workflow: By accelerating eligibility verification for all payers, this resolution ensures claims are submitted with correct affected person info, minimizing errors and maximizing effectivity.

“Inovalon is proud to be a associate of the MEDITECH Alliance as we proceed our dedication to delivering industry-leading EHR-integrated RCM capabilities to suppliers throughout the nation,” stated Julie Lambert, president and basic supervisor of Inovalon’s Supplier Enterprise Unit. “Our partnership with MEDITECH will empower suppliers with proactive insights and streamline their monetary operations to maintain income flowing, enabling them to attain better effectivity, maximize reimbursement accuracy, and concentrate on enhancing scientific outcomes and affected person experiences.”