Healthcare Revenue Cycle Management Case Study
Increase in appointments without increasing call37K+
Hours saved, freeing highly skilled staff$16M
Eligible claims processed and reconciled40%
Faster integration of a new acquisition9Day
Reduction in claim to cash
A Leading Eyecare Group Revolutionizes its Complete Revenue Cycle Management
The group provides operational support solutions to 120 optometry practices and they continue to grow through acquisitions. The rapid nature of these acquisitions made it difficult to assimilate all of the incoming information systems, causing critical challenges and risking significant revenue loss. This led them to search for reliable healthcare revenue cycle management solutions. Nividous was selected and deployed as a standardized platform to address these issues, transforming overall healthcare Revenue Cycle Management.
How Nividous Platform Powers Your Revenue Cycle Management Automation
The Nividous Platform-enabled Revenue Cycle Management process allows companies to utilize automation in order to have greater control over collection costs, make data-backed organizational decisions, reduce manual admin functions, increase operational efficiency, and produce positive financial performance across business units.
Revenue Cycle Management initiates when a patient makes an appointment and concludes when a provider receives payment. There are five steps a company must complete once the process begins. These include:
What Makes the Nividous Revenue Cycle Management Solution Different?
Key indicators important to Revenue Cycle Management include:
Discharge Not Final Billed [DNFB]
Clean Claim Ratio
Benefits of Nividous’ Holistic Approach to Healthcare Revenue Cycle Management
- 45% Improved Claim Adjudication
- 60% Greater Efficiency For Patient Scheduling
- 55% Increased Patient Account Settlement
- 80% Improved Auditing And Compliance
- 75% Superior Management Of Claims
- Over 90% Data Extraction Accuracy
- Up To 50% Faster To Implement
- Over 85% Reduction In Processing Time
- 4-6 Months To Realize RoI
- 5X Lower Total Cost Of Ownership
Learn more about how a holistic automation approach dramatically transforms RCM
Nividous platform-enabled process automation has proven to be a game-changer to support our rapid growth. Our highly skilled resources are freed up to focus on more value-added tasks, delivering better customer services. We have seen great success with Nividous platform across different departments. The platform has played an instrumental role in revolutionizing overall revenue management.
Chief Information Officer
Nividous’ AI-powered RPA Bots allowed for frictionless medical data retrieval to complete complex coding that is required to ensure fast, maximum Medicare payment. The automation has also enabled us to file reports directly into our customer’s EMR (Electronic Medical Record) system within 24 hours thus cutting down on their administrative burden. With the success of this automation, we are anticipating a significant increase in revenues and overall cash flow for our business.
Founder & CEO
Kane Wound Care