Top Revenue Cycle Management Solution Companies - revenue-cycle-management Companies
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Kassouf Healthcare Solutions: Driving Better RCM via Better Communication

Top 10 Revenue Cycle Management Solution Companies - 2021

The healthcare landscape is quickly evolving, with new trends and regulations constantly reshaping how services are delivered. Today, healthcare operations are undergoing a disruptive transformation as automation brings forth brand new capabilities across a wide range of its business processes. On that note, revenue cycle management (RCM) is among the most attractive business functions for healthcare providers to strengthen its stride on the automation journey. Technologies such as robotic process automation (RPA), intelligent automation (IA), and cognitive methods such as artificial intelligence (AI) are helping healthcare organizations improve RCM efficiency, which is a key for improving cash flow.

Notably, AI is helping healthcare organizations find patterns in data and use them to streamline billing and coding. AI can leverage existing RCM data to address common issues, including processing prior authorizations, monitoring billing and claim status, and estimating out-of-pocket expenses. AI can also automate RCM’s most complicated processes, pinpoint when and where human intervention is required, and assign necessary tasks to the most qualified personnel.

Besides, IA is helping healthcare organizations improve patient care and resolve common RCM challenges. IA can help health systems realize new revenue streams by improving net revenue capture, delivering cost reductions through automating timeconsuming rules-based revenue cycle tasks, and producing more predictable reimbursements.

At this juncture, there is a variety of revenue cycle management solution providers that are entering the market to cater to the different needs of healthcare organizations. To help them choose the solution that best fits their requirement, Healthcare Tech Outlook has compiled lists of top revenue cycle management solution providers. Besides, the magazine also comprises insights from thought leaders in the sector on the industry trends, best practices, recent innovations, and their advice for aspiring CXOs.

We present to you Healthcare Tech Outlook’s, “Top 10 Revenue Cycle Management Solution Providers – 2021.”

    Top Revenue Cycle Management Solution Companies

  • Arch Management Strategies is a trusted practice management partner for medical clinics. The company provides an end-to-end management solution that helps independent medical practices to bridge the gap between patient care and practice management. Arch’s services enables its clients to combine revenue cycle management and operations management, which were traditionally disparate. The company believes that a financially fit practice must have its operational workflows in line with its revenue cycle workflows. As Arch engages with new clients, in the discovery period, the company gets a full understanding of the flaws of the existing practice, both operationally and financially. While doing this, the company also understands the client’s existing systems, capabilities, and more, and finds ways to streamline the workflows

    arch-mgmt.com

  • FrontRunnerHC suite of products and services leverages their unique development platform to create custom applications that automate manual revenue cycle tasks to reduce costs, solve problems, and improve accuracy and optimize efficiency.

    www.frontrunnerhc.com

  • Alabama-based Kassouf Healthcare Solutions offers a RCM services suite that enables faster and more secure information sharing and drives better collaboration through a transparent and real-time approach to claims submission. The company's RCM services suite is built to enhance collaboration internally and externally via better communication and clear information updates, both of which drive the establishment of a vetted claims submission process that minimizes denials and delays. The suite currently comprises revenue cycle management, claims preparation and submission—electronic and hardcopy, payment entry posting, credit balance refund processing, patient demographics and insurance plan entry, claims management analysis reports, patient billing communications, and clinic liaison, among others

    kassoufhealthcare.com

  • For more than 30 years Parathon has developed solutions that empower providers to improve financial performance, streamline operations, and increase patient engagement

    www.parathon.com

  • A rare offshore RCM partner that specializes in providing reimbursement-linked, technology-enabled, outcome-based, meaningful engagements to medical billing companies

    qbsshealth.com

  • R1 puts forth a state-of-the-art ecosystem that combines computer vision/optical character recognition (OCR), natural language processing (NLP), machine learning, and RPA on an integrated workflow platform, which allows digital and human workforces to work alongside each other seamlessly. Notably, IA is not meant to replace all the revenue cycle work handled by humans, and that’s what makes R1’s unique operating model pivotal. R1’s ecosystem makes digital tools carry out routine and redundant tasks, reducing the reliance on the human workforce for these time-consuming tasks. Meanwhile, it lets human staff handle the complex tasks that require additional skill sets and expertise, like exception-handling and complex patient interactions

    www.r1rcm.com

  • Sandata Technologies is a leading U.S. provider of home care solutions that enable government agencies, managed care organizations, and home care providers to manage and optimize the delivery of services. Sandata’s purpose-built home care agency management software and services enable providers to maximize communication, measurement, and oversight to optimize their operations and provide the most effective and efficient patient care, and get paid appropriately. The company’s dedicated platforms for homecare and I/DD agencies provide relevant information regarding schedules, compliance, caregiver onboarding, case assignments, and EMRs. It allows them to assess clients, schedule services, curate care plans, assign caregivers, and stay aligned with compliance guidelines, while keeping the care plans recorded, reviewed, overseen, and monitored.

    www.sandata.com

  • Aquina

    Aquina

    Aquina is leading the healthcare finance and RCM revolution with innovative technology designed to add value across the entire healthcare claims ecosystem. With patent-pending technology, Aquina delivers a broad and robust financial toolset designed to put the provider in control of its cash conversion cycle. Aquina is the blue-chip financial technology firm healthcare providers, large and small, rely on for financially-enhanced RCM products and services. Through delivering innovation via a broad toolset, we empower our network of providers with unprecedented cash flow flexibility and control. Reducing costs, improving efficiency, and the cash conversion cycle for both patient and payer receivables. As the patient wallet becomes extended and alternative reimbursement models become the norm - providers must enhance their revenue cycle management in order to thrive. Aquina is uniquely positioned to remove the cash flow lag between Provider - Payer - Patient. Our goal is to deliver value to each of these constituencies.

  • Enhanced Revenue Solutions

    Enhanced Revenue Solutions

    Enhanced Revenue Solutions is one of the most successful revenue enhancement services in the nation and was created by some of the most innovative, thoughtful minds in medical billing. Our client-centered approach offers an unmatched level of specialized expertise that helps medical providers nationwide move forward with greater financial stability. Reduce days in A/R. Increase collections. Decrease denials. Improve process and management all around. ERS is your full-scale revenue cycle management team. We deliver customized solutions based on local and national codes that meet the unique needs of your practice. We pride ourselves on creating a streamlined environment of interpersonal engagement built upon teamwork and trust. Our commitment to you allows us to become one with your existing team to successfully manage your practice on a daily basis.

  • Veridical RCM

    Veridical RCM

    Veridical RCM is a special kind of revenue cycle management company. We specialize in the areas of healthcare that are often misunderstood by the insurance industry, hospital administration and ultimately, patients. Our clients represent select areas of healthcare that require a true hands-on approach to ensure they are paid correctly, and in a timely manner. Perhaps more importantly, we understand the difference between what should be reimbursed, and what will sooner or later be recouped by the carrier. This critical understanding ensures our clients can actually keep what they collect. We offer expertise in billing compliance, optimizing revenue capture, accounts receivable audits and hospital contract negotiations. Whether you choose to keep the revenue cycle in-house or outsource to a third party billing company, you can benefit from our guidance.