Emdeon to highlight insights and product news in support of industry transparency at HIMSS15
Emdeon, a provider of healthcare revenue and payment cycle management and clinical information exchange solutions, is using their participation during HIMSS15 to highlight actionable insights and product news in support of industry transparency. Specific activities over the course of the event include:
- A preview of Edit Verification Advisor (EVA), which can improve claim acceptance by identifying possible payer rejections before a claim is submitted from the provider to the payer, easing the workflow process and reducing the number of outstanding A/R days. EVA will be available May 1, 2015.
- An in-booth panel discussion will focus on how data will fuel product innovation now and in the future. Moderated by Jenn Dennard, HIStalk writer and digital diva, the panel will include two industry leaders, Albert Santalo, president and chief executive officer at CareCloud, and Gene Boerger, Senior Vice President at Emdeon. This panel will be held on April 14th at 2:30 pm CT.
- Ongoing demonstrations of the expanded capabilities and services of Emdeon Patient Responsibility Estimator (PRE). Embedded into providers’ software, these capabilities will initially have limited availability to a select group of Emdeon channel partners, before being in general release later this year. PRE helps to predict an estimate of the patient’s portion of the bill, improving the bottom line for physicians by engaging patients earlier in the process to more effectively and efficiently collect payments.
- Ongoing interactive industry transparency boards, an activity allowing attendees to contribute to meaningful conversations around the work needed to achieve true industry transparency.
Visitors to Emdeon’s HIMSS booth will have the opportunity to discuss specific details regarding both Edit Verification Advisor and the expanded solution offerings of Emdeon Patient Responsibility Estimator:
- Edit Verification Advisor (EVA) is a claims editing tool that helps providers improve their first pass claim acceptance rates and reduce outstanding A/R days. EVA gives providers the ability to review their claims and receive feedback on claim errors before submitting, helping to send a clean claim to the payer the first time.
- Emdeon Patient Responsibility Estimator (PRE) is a software intermediary tool for PMS/EMRs that enables software programs to interact with each other and share data, essentially acting as an application programming interface (API). PRE allows physician practices to estimate the out-of-pocket amount a patient is responsible for at the point of care to improve collections. At a high-level, the most notable changes to PRE are that it will now be expanded into the ambulatory space, be cloud-based and utilize ERA data which can improve accuracy of estimated patient costs. Estimations will be tailored to individual practices, based on Medicare Fee Schedules and practices’ existing payment history of how much services have cost patients in the past, giving patients more transparency into their healthcare costs at the point of care.
Having patient financial information at the point of care has been shown to increase patient payment rates. Allowing the PMS/EMRs to communicate with Emdeon’s software, PRE can break down the barriers and begin relaying information that is pertinent to both the provider and the patient. After the initial interaction with the patient, providers often fail to collect earned revenue early in the claims submission process. “These areas in revenue cycle management are where providers lose more revenue than any other area within the RCM process,” said Eric Arnson, Vice President of Product Management for RCM Technology at Emdeon.
“EVA and PRE have the potential to significantly impact a provider’s bottom line. Both solutions address major pain points faced by providers when looking to improve their revenue cycle management process,” said Kris Joshi, Executive Vice President of Products at Emdeon. “Working closely with our customers, we identified this issue and looked at improving the revenue cycle process at the first interaction with the patient, where PRE will work to reduce risk of non-payment, and EVA can be used to improve claim acceptance rates.”
Show attendees are encouraged to visit Emdeon in booth 7156 to learn more about the important changes and improvements in support of industry transparency.