Healthcare Providers Enable Revenue Cycle Transformation, Improving Financial and Operational Performance With MedeAnalytics
MedeAnalytics uses augmented analytics capabilities built natively into its solutions to support powerful client outcomes; Presbyterian Healthcare Services and Oregon Health and Science University to present their results at HIMSS23
RICHARDSON, Texas, April 16, 2023 (Newswire.com) - MedeAnalytics, a healthcare analytics software-as-a-service (Saas) leader enabling financial, clinical and operational analytics for healthcare providers, payers and payviders, today announced that two leading healthcare organizations are using its analytics solutions to greatly improve revenue cycle and operational performance with measurable value.
At the 2023 HIMSS Global Conference and Exhibition in Chicago, Illinois, MedeAnalytics will be showcasing its full suite of innovative solutions, including its unprecedented flexibility to accelerate digital transformation using its Data Fabric, a unified analytics framework purpose-built for healthcare to deliver rapid time-to-value. In addition to stopping by the MedeAnalytics booth, attendees can attend three lightning sessions delivered by MedeAnalytics clients on the Innovation Hub Stage and Lightning Session Stage, including:
Presbyterian Healthcare Services
Tuesday, April 18 at 10:15 a.m. (Innovation Hub Stage) and Wednesday, April 19 at 1:45 p.m. (Lightning Session Stage)
Founded in New Mexico in 1908, Presbyterian Healthcare Services (PHS) is a not-for-profit integrated healthcare system of nine hospitals, a statewide health plan and a multi-specialty medical group. PHS had a strategic need to differentiate their offerings and aspired to leverage analytics as a competitive differentiator. They needed a complementary solution to their Epic EHR for deeper granularity and insights.
With the MedeAnalytics Suite of RCM Analytics solutions, PHS reduced their total cost to collect by $450,000 and reduced the time spent consolidating data by 75%, resulting in $272,000 in savings alone. They also reduced their denials by $806,000.
"RCM Analytics from MedeAnalytics has helped transform our revenue cycle management (RCM)," said Soyal Momin, SVP, Chief Analytics Officer at PHS. "Our executives and analysts now have greater visibility into our RCM processes, metrics and outcomes, which has delivered significant value, ROI, and award-winning performance improvement."
"We've been awarded the HFMA MAP award seven times. Our consistent success is based on improved performance year-over-year," added Laura Calkins, VP, Revenue Cycle at PHS. "Much of this is driven by the self-service, real-time insights available to all members of the revenue cycle through the MedeAnalytics RCM Analytics solutions. Putting the data in the hands of the people doing the work has been critical to driving improvements every year."
Hear from Soyal Momin, SVP, Chief Analytics Officer; Jay Olive, Director, Business Intelligence; and Laura Calkins, VP, Revenue Cycle at Presbyterian Healthcare Services on both Tuesday and Wednesday.
Oregon Health and Science University - Tuesday, April 18 at 3:45 p.m. (Lightning Session Stage)
Oregon Health and Science University (OHSU), the only academic medical center in Oregon, deployed MedeAnalytics to address their low CMI and CC/MCC capture rates plus low physician engagement. Employing MedeAnalytics' Revenue Integrity solution with CDI, OHSU increased Case Mix Index (CMI) by 21% (2016-20), improved CC/MCC capture rates by over 5%, and increased average rate of return (ARR) per CDI specialist per month by 159%.
"Actionable analytics from MedeAnalytics has been invaluable for our CDI program. We have seen measurable improvements in our CMI and CC/MCC capture rates, which have significantly augmented revenue capture," said Jennifer Hill, BSN, JD Assistant Director, Clinical Documentation, Inpatient Coding and HCC teams at OHSU.
Hear from Jennifer Hill, BSN, JD Assistant Director, on Tuesday from the Lightning Session Stage for more on empowering CDI teams with analytics to secure financial and clinical improvements.
"MedeAnalytics is committed to delivering innovative solutions to support our healthcare payer, provider and payvider clients, and we're thrilled to have three great presentations showcasing their remarkable outcomes," said Steve Grieco, CEO of MedeAnalytics. "The next-level capabilities we will be showcasing at the HIMSS23 Conference are a testament to our more than two decades of research and development, all aligned with our mission to deliver measurable value to our customers. We have unrivaled technology for data orchestration and interoperability, plus solutions with embedded augmented analytics capabilities, providing granular analytics and reporting not offered by EHRs and other systems."
MedeAnalytics will be showcasing its solutions at the upcoming 2023 HIMSS Global Conference & Exhibition in Chicago, Illinois. Attendees can visit MedeAnalytics at Booth #6011 or online at https://medeanalytics.com/landing/himss23.
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About MedeAnalytics®
MedeAnalytics is a leader in healthcare analytics, providing innovative SaaS solutions that enable measurable impact for healthcare payers and providers. With the most advanced data orchestration in healthcare, payers and providers count on us to deliver actionable insights that improve financial, operational and clinical outcomes. To date, we've helped uncover millions of dollars in savings annually. To learn more, visit www.medeanalytics.com, Twitter, LinkedIn, and The Impact Initiative: The MedeAnalytics Blog.
Media Contact:
Caryn Tomer
Senior Director, Marketing Communications for MedeAnalytics
618.579.9717
caryn.tomer@medeanalytics.com
Source: MedeAnalytics
