MDaudit, the healthcare technology company that harnesses the power of analytics and its proven track record to allow the nation’s premier healthcare organizations to retain revenue and reduce risk, announced today the launch of MDaudit Revenue Integrity Suite which brings fully integrated risk capabilities and supporting workflows together on a single platform.
The only end-to-end denials analytics technology designed to pre-emptively protect against revenue leakage by identifying and resolving systemic risks based on historical data and applied insights, MDaudit Revenue Integrity Suite proactively addresses the issues that lead to costly inpatient and outpatient claim denials.
“Up to 80% of denial dollars can be traced back to just 20% of denied claims – denials that are rooted in systemic issues that MDaudit Revenue Integrity Suite eradicates with a unique blend of retrospective diagnostics and predictive analytics,” said Peter Butler, president and CEO, MDaudit. “This is not just another in the industry’s long line of software that does little more than highlight coding inaccuracies without identifying the cause of denials. Rather, MDaudit Revenue Integrity Suite creates a closed-loop feedback process between insights, action, and outcomes to manage high-impact denials, making it a powerful vehicle for driving improved overall revenues.
Powered by sophisticated analytics, augmented intelligence, and expertise in providing proven revenue cycle management services and solutions to the nation’s leading healthcare provider organizations, Revenue Integrity Suite is the latest offering from MDaudit that delivers industry-leading innovation to improve outcomes through actionable analytics and empower healthcare organizations to achieve unparalleled efficiency, reduce compliance risk, and retain more revenue. MDaudit technology delivers powerful workflow automation, risk monitoring, and built-in analytics and benchmarking capabilities – all in a single integrated cloud-based platform.
MDaudit Revenue Integrity Suite gleans insights from historical data and applies them proactively to address potential denials for reasons that are either medical necessity, pricing, or treatment-related, including specialty drug and durable medical equipment (DME) utilization, thereby resolving the issues that cause high-dollar hospital claims to be denied. It features a powerful analytics engine that proactively identifies financial and clinical issues with high-value services as they are seen by payers, reducing the costliest denials and payment delays, and improving revenue and days in A/R.
By identifying, prioritizing, and addressing denial risks that have the greatest financial cost, MDaudit Revenue Integrity Suite optimizes and targets internal resources for maximum impact. It also:
- Provides greater visibility of revenue risks across revenue integrity, revenue cycle, billing compliance, coding, clinical documentation, and other teams.
- Supports improved financial decisions, forecasting, risk management, and strategic use of internal resources.
- Informs retrospective and prospective audits, driving continuous billing compliance, coding improvements, and stakeholder education.
“In today’s macro-economic environment, healthcare organizations are necessarily hyper-focused on achieving sustainable revenue and profitability,” said MDaudit COO Ritesh Ramesh. “Their needs drive MDaudit’s continuous search for technology-enabled approaches to ensure these organizations can keep the revenue they earn with greater predictability and less risk.”
He continues: “MDaudit Revenue Integrity Suite tackles this critical problem with an innovative, data-driven, and cross-functional approach that exceeds the capabilities and ROI of the traditional solutions in this space.”
To learn more about the Revenue Integrity Suite, visit http://www.mdaudit.com/revenue-integrity-suite/.