First Pst after migration to Cloud in Health care Blog

With the ability to be applied across many different areas – from disease prediction to claims management and administrative tasks – data and analytics in healthcare is booming. In fact, according to a Grand View Research report, the global market for data analytics was valued in 2022 at $35 billion and is expected to increase at a compound annual growth rate of 21.4% until 2027. So, why the rapid growth? How can healthcare data analytics be used across the healthcare revenue cycle? The role of data and analytics in healthcare Historically, there has been a large amount of healthcare data being generated, but the industry has struggled to properly leverage this data into useful insights that improve patient outcomes, operations, or revenue. Today, with increasingly advanced data analytics, healthcare providers are using real-time data-driven forecasts to stay nimble and pivot quickly in rapidly changing healthcare and economic environments. And there is more data collaboration between healthcare organizations to convert analytics-ready data into business-ready information, thanks to the ability to automate low-impact data management tasks. Data-derived intelligence is also now easier to share with colleagues, third parties and the public. Types of healthcare data analytics methodologies and tools Healthcare data analytics involves several different types of methodologies and tools – all of which can be applied to various aspects of revenue cycle management. For example, descriptive analytics allows organizations to review data from the past to gain insights about previous trends or benchmarks. Predictive analytics, on the other hand, uses modeling and forecasting to help predict future results. When a strategic course of action is needed based on certain data inputs, prescriptive analytics is used. If a provider wants to take a deep dive into raw data to uncover patterns, outliers, and interconnection, they may employ discovery analytics. There are also generally three categories of technology-driven tools that can help collect and convert raw data into usable insights during the revenue cycle, including: Solutions that gather data from a wide variety of sources, such as patient case files, machine-to-machine data transfers, and patient surveys Programs designed to scrub, validate, and analyze data in response to a specific question being researched Software created to leverage the results produced by the analysis into actionable suggestions that be applied to meet specific goals Applying data analytics to maximize revenue “There are many things driving near-constant change in the healthcare revenue cycle, including shifting reimbursement, evolving value-based payment models, growing regulatory pressures, and increasing provider risk and patient responsibility,” says John Menard, VP of Product, Analytics, at Experian Health. “Healthcare organizations are also adapting to value versus volume reimbursement models, requiring revenue cycle leaders to lean into leveraging data analytics to improve not just operational efficiency, but patient financial experience and quality outcomes as well." Here's a closer look at how data analytics can help with revenue cycle management: Assessing patient finances From registration to collections, data analytics can play a key role at every step of the patient journey – and revenue cycle. Not only can the right data analytics tools help healthcare organizations better assess a patient's individual financial circumstances, but they can also help providers create accurate estimates and payment plan recommendations. Data-driven technology can help providers reduce surprise billing through more transparent pricing, helping patients navigate the cost of care and providing more timely patient communication. Digital solutions can help improve the patient financial journey by: Providing a self-service patient portal – With a solution like PatientSimple, patients get convenient 24/7 access to self-service account management tools. They can use the online portal to log into their healthcare account to securely process payments, request or review payment estimates, and schedule appointments. The portal also provides patient access to pricing information, plus the ability to apply for financial assistance or set up payment plans. With easy-to-use patient online tools, patients are more likely to meet their self-pay responsibilities and providers get paid more quickly as a result. Offering payment solutions – To collect payments with confidence, healthcare providers can utilize comprehensive data collection and advanced analytics through a digital solution like Patient Financial Clearance. With this solution, providers use a patient's financial data to quickly assess a patient's propensity and likelihood to pay prior to treatment. When appropriate, providers can then offer empathetic financial counseling and connect those that potentially qualify to financial assistance programs. By applying data analytics to this payment solution, healthcare organizations can increase point-of-service collections while reducing bad debt—in real-time. Providing patients with more accurate estimates – A recent Experian Health study found that 4 in 10 patients said they spent more on healthcare than they could afford. However, when patients know the expected cost of their care up front, they feel more empowered and make better decisions. Patient Estimates lets providers create more accurate estimates, eliminate manual tasks and improve patient satisfaction. Plus, it allows providers to automate and standardize their price transparency practices, which can help healthcare organizations meet regulatory requirements, create a more positive patient experience and increase revenue at the point of service. Reduce denied claims According to Experian Health's 2022 State of Claims survey, denied claims are on the rise with 42% of providers reporting that denials increased in the past year. 47% of respondents also said improving clean claims rates was a top pain point. Digital solutions can help providers reduce denied claims and increase revenue by: Automating claims management – With a solution like ClaimSource®, providers can automate their claims management systems – helping to ensure claims are clean before they are submitted to a government or commercial payer. Using an automated solution also allows providers to streamline the claims management process from a single web application. With ClaimSource, providers can easily analyze claims, payer compliance and insurance eligibility. Plus, it allows staff to prioritize their workload and focus on high-impact accounts – resulting in claims denial rates of just 4% compared to the industry average of more than 10%+. Optimizing efficiencies through artificial intelligence – Incorporating artificial intelligence (AI) into an automated claims management solution enhances the claims process in two key moments: before claim submission and after claim denial. AI Advantage™ integrates seamlessly with ClaimSource to continuously learn and adapt to ever-changing payer rules. The solution features two AI offerings, AI Advantage – Predictive Denials and Denial Triage, which can be customized to prioritization thresholds. Verify insurance and patient information Missing patient healthcare data can be a headache for providers to hunt down but looking for active coverage is often necessary. Providers must contend with a range of factors impacting patient coverage – including forgotten coverage, inadequate coverage, patients being misclassified as self-pay and regulatory changes, particularly with Medicaid and Medicare coverage. Implementing digital solutions can help providers use data to verify and find missing patient health insurance coverage, optimize patient collections, and boost revenue by: Utilizing automated, real-time insurance verification – Verifying patient coverage prior to service using a digital solution, such as Experian Health's Insurance Eligibility Verification. This tool can help providers experience fewer payment delays and claim denials. Plus, verifying insurance with automated insurance eligibility and benefits data improves cash flow, reduces claims denials and speeds up payments, including Medicare reimbursements. Patients also feel empowered with accurate payment estimates and accelerated registration, leading to a better patient experience overall. Improving collections with better data – With Collections Optimization Manager, providers can screen out bankruptcies, deceased accounts, Medicaid and other charity eligibility ahead of time. Through targeted collection strategies, providers can leverage actionable insights to focus on high-value accounts. Plus, predictive algorithms and data-driven rules help providers route and distribute accounts to the right collectors and agencies, controlling overall collection costs. This solution also connects providers to live support from an experienced optimization consultant that will help develop a tailored collection strategy through data evaluation and industry knowledge. Finding unidentified coverage – In 2022, Coverage Discovery tracked down previously unknown billable coverage in 28.1% of self-pay accounts, finding more than $64.6 billion in corresponding charges. Providers can use Experian Health's Coverage Discovery solution at any point in the revenue cycle to look for previously unidentified coverage – maximizing insurance reimbursement revenue and reducing accounts sent to collections, charity, or bad debt. Coverage Discovery also automates self-pay scrubbing and proactively identifies billable Medicare, Medicaid, and private insurance options, using a mix of search, historical information, proprietary data sources and demographic validation. See how the right data and analytics can help providers better understand their patients, streamline operations, and improve revenue.

Many hospitals and health systems are rethinking their responses to the growing challenge of healthcare claims management. After all, claims are becoming increasingly more complex. Payer policy edits are changing at a scale not seen before. And the legacy of the pandemic continues to take a toll on administrative workflows. In Experian Health's State of Claims survey 2022, providers reiterated the urgent need to optimize claims management – and the mountains of wasted dollars that are the by-product of preventable denials. Could artificial intelligence (AI) and machine learning (ML) be the key? What does the future of healthcare claims and AI look like? The internet is buzzing with excitement about the AI revolution, but the adoption of AI technology in healthcare has been slow, compared to other industries. Providers may be unclear about implementing AI effectively or struggle to see a route around barriers to adoption. This includes concerns around legacy systems and data interoperability. That said, the uptake of AI in healthcare shot up by 167% between 2019 and 2021, as organizations spotted opportunities to leverage new technology to reduce denials, optimize processes and identify patterns. Now, the AI genie is out of the bottle. As the trend continues to grow, providers that fail to embrace these technological advances risk falling behind as their competitors race forward. This article looks at AI's role in the future of healthcare claims management, and specifically, how it can help providers streamline claims processing, recoup more revenue and gain a competitive edge. The growing challenge of healthcare claims management In Experian Health's State of Claims Survey 2022, providers said reducing denials was their number one priority. It's clear to see why. There have been more than 100,000 payer policy changes between March 2020 and March 2022. Staffing shortages continue to put pressure on both front-and back-office teams. Increasing patient volumes and changes to insurance coverage means more claims to process – with more complexity to boot. Looking ahead, providers need to find more efficient ways to manage and utilize increasing volumes of claims data to alleviate staffing pressure, improve productivity and future-proof against unexpected events. Failure to do so could be an expensive mistake, especially when margins are already tight and the economic landscape remains shaky. Digital claims management: from process-automation to pattern-spotting The survey suggests providers are increasingly turning to automation to improve claims management, with 78% saying they were likely to replace their current solution to achieve lower denial rates in the coming year. Upgrading claims technology, automating the tracking of payer policy edits, and automating patient portal claims reviews were the top three strategies for reducing denials. Automation can generate years of ROI by executing repetitive and error-prone administrative tasks at speed and at scale. A few examples of automation in action are tools like: ClaimSource®, which manages the entire claims cycle, creating custom work queues and automating the claims process for greater efficiency and accuracy. Claim Scrubber, which automatically reviews every line of every claim to check for errors, so claims are clean the first time, prior to submission.  Denials Workflow Manager uses automation to help providers eliminate manual processes, prevent errors and increase reimbursement. AI takes this a step further, by analyzing vast amounts of information to find patterns and make predictions that support better, faster decision-making. Clarissa Riggins, Chief Product Officer at Experian Health explains why providers should embrace AI in claims and denials management: "Claims submissions and managing claims after denial are highly manual processes – and they are both extremely error-prone. AI/ML can learn from the data patterns in your claims to provide insights on where your claims are being denied most frequently. These solutions can also provide decision support to staff to help them to prioritize the work within their current claims processes, to avoid unnecessary denials in the first place and then to optimize their work to ensure a cleaner claim rate." While many providers see the potential of AI to streamline claims operations, prevent denials and accelerate reimbursement, others are hesitant to invest or are stumped by logistical barriers. Legacy technology, data compatibility issues and staff skills gaps can all put the brakes on AI implementation. But the AI train is showing no signs of slowing, and providers that fail to jump aboard could get left behind. With the right tools and an experienced vendor, implementation can be simplified. AI Advantage™ – the engine for predictive denials and denials triage Experian Health's new AI-powered denials management solution uses a two-pronged approach to predict, prevent and prioritize denials. First, AI Advantage – Predictive Denials identifies claims that may be at risk of being denied, based on analysis of historical payment data and payer decisions. This gives staff time to intervene and make any necessary amendments before the claim is submitted. The second element, AI Advantage – Denial Triage, applies an algorithm to segment denials based on the likelihood of reimbursement. This means staff can focus on high-impact resubmissions, rather than simply prioritizing high-value claims that may or may not be paid. Rob Strucker, Product SVP at Experian Health, explains that AI Advantage™ is continuously learning in real-time, so that predictions are increasingly accurate: “We look at the provider's own information for this type of service for this payer, and how those claims have been adjudicated. From that, we can score each claim in terms of its probability of being denied or claimed, and then based on that probability score, trigger an appropriate alert.” How Schneck Medical Center optimized healthcare claims management with AI Advantage™ AI Advantage™ proved to be the solution Schneck Medical Center was looking for when they set out to reduce denials. Within six months, Experian Health's AI-powered solution enabled Schneck to reduce denials by an average of 4.6% each month. Staff reported that the probability thresholds calculated by AI Advantage™ were highly accurate, facilitating a more efficient approach to reworking claims. Processing time was cut from 12 to 15 minutes to less than 5 minutes per claim. Clarissa Riggins says that AI Advantage gives staff confidence that they're spending their time on the right tasks: "When you have an algorithm that can evaluate the probability that a denial will be overturned, you can make sure that staff are working on the claims with the most potential for yield. Taken together, these solutions can help ensure that hospitals and health systems are getting paid for the good work they do in delivering care." Thanks to the tool's predictive capabilities, staff now have the insights (uncovered from within their own data) to prevent denials before claims are submitted, and to speed up rework should any be denied. As claim denials continue to increase in number and complexity and healthcare costs continue to grow, providers are feeling the impact on their revenue and margins. AI can ease the pressure by optimizing the healthcare claims management process. Find out more about how AI Advantage™ can help providers improve healthcare claims management and prevent costly claim denials.

Prior authorizations allow health insurers to determine if a patient's planned care is medically necessary and how much of the cost they'll cover. But what began as a well-intentioned process to promote high-quality, cost-effective care has become one of the most time-consuming and expensive manual transactions for providers. Transitioning from manual systems to automated prior authorization software is one way to expedite the decision-making process so patients get the care they need – and providers get paid – without undue delay. Prior authorization software eliminates friction in the pre-approval process Disjointed manual prior authorizations processes place a major administrative burden on staff, who must spend hours filling out forms, gathering information about the patient's medical history, and communicating with insurance companies to submit and track requests. Walking this bureaucratic tightrope delays tests and treatments for patients and often fails to fulfill the promise of cost containment. To streamline the process, providers are increasingly turning to automated prior authorization solutions. Prior authorization software helps providers check whether pre-approval is needed, compile and submit the request, and track payer decisions. It can check requirements in real time and quickly connect staff to the correct payer portal so they can progress without delay or guesswork. Data can be pre-formatted according to the payer's rules, to avoid the roadblocks that pop up without interoperability. Software can monitor performance over time, to drive ongoing improvements and prevent denials and appeals. This helps providers increase operational efficiency, reduce the administrative load, and obtain the payer's decision as soon as possible. Soon, fully electronic prior authorizations may also be a requirement: in December 2022, the Centers for Medicaid and Medicare Services proposed a new rule to improve and expedite the electronic health information exchange. The Advancing Interoperability and Improving Prior Authorization Processes Proposed Rule would require affected payers to process urgent requests within 72 hours and standard requests within 7 days, beginning January 1, 2026. With more than 35 million prior authorizations submitted to Medicare Advantage plans in a single year (and more than 2 million of those being denied), providers will find these timeframes extremely challenging without electronic systems in place. Manual prior authorizations: creaking under pressure? Prior authorization software may be gathering momentum, but manual processes still dominate: 33% of prior authorizations were fully manual in 2022, barely moving from 34% in 2020. Many providers continue to grapple with the fall-out of inefficient systems, such as: The administrative burden – The American Medical Association estimates that physicians spend an average of nearly two days per week handling prior authorizations while 35% have staff who work exclusively on prior authorizations. As the volume of prior authorizations increases, these time-consuming processes cannot keep up. The communications challenge – Manual communication channels create too many opportunities for information to be misunderstood or misplaced when being passed between providers and payers. Providers' staff find themselves juggling faxes, telephone calls and payer portal log-ins. Without data interoperability, payers and providers end up in data silos where they're not working from the same account information. Delays mean real-time monitoring and decision-making are impossible. The denials problem – With manual processes, providers lack real-time visibility into changing payer rules. This lack of clarity means requirements may be missed or misinterpreted, leading to longer waits for approval and requests being denied. Not only does this have major consequences for patient care, but it also runs the risk of increasing out-of-pocket costs. It's unsurprising that the MGMA members repeatedly say that prior authorizations are the most burdensome regulatory issue they face. The business case for prior authorization software Transitioning from manual to electronic prior authorization processes can help overcome many of these challenges. Providers should focus on three main benefits when making the case for implementing prior authorization software: 1. Faster workflows Revenue cycle management teams are tired of being asked to “do more with less,” but automated prior authorizations actually check this box. This software can increase efficiency by initiating more requests in less time, so staff can spend less time chasing down documentation and reworking denials. It takes charge of monitoring and managing requests, reducing the need for manual follow-up. 2. Easier authorizations management Keeping pace with payer policy changes was a top concern for providers, according to Experian Health's State of Claims Survey 2022. To address this, Experian Health's online authorizations tool gives users access to a central payer database that instantly and automatically syncs with payer updates. Staff no longer need to log into multiple payer portals and cross-reference rules and requests by hand. It integrates customizable client-specific and plan-specific rules for more streamlined and accurate submissions. A guided, exceptions-based workflow gives staff immediate information on whether submissions are pending, denied or authorized. 3. Enhanced features (that go above and beyond manual processes) Prior authorization software not only makes the whole process more efficient and user-friendly, but it also offers additional features that simply aren't possible using manual processes alone. For example, with Experian Health's Prior Authorizations software, an additional post-back service can be integrated with hospital information and patient management systems to share authorization status, number and validity dates and flag any inconsistencies. It can store digital images of payers' responses for future reference. The software supports reconciliation by comparing authorized requests with pre-submission requests, to identify potential discrepancies and prevent denials. Finally, it also provides integrated faxing capabilities, so submissions can be sent to electronic and non-electronic payers using the same system. An increased need for prior authorizations software as the number of authorizations increase As patient volumes and payer policy changes continue to increase, providers will need to find ways to speed up prior authorization processes. Experian Health's State of Claims Survey 2022 found that more than half of providers find it hard to track changes to prior authorization requirements – unsurprising given that Experian identified more than 100,000 payer policy changes between March 2020 and March 2022. Neeraj Joshi, Director of Product Management at Experian Health, says that transitioning to automated prior authorizations will be essential to process requests efficiently at scale: “With prior authorization software, we can help our clients cut decision times to the absolute minimum. Automation reduces processing time and enables real-time tracking of authorizations, which translates to faster, more efficient communication between providers and payers. As authorizations increase, providers should speak to software vendors to explore the opportunities to speed up approvals and expedite the delivery of medical care to patients.” A nationwide survey confirmed that the use of electronic prior authorizations resulted in a shorter decision time. It also found that this advantage could be amplified with better integration into existing workflows. Experian Health clients who already use the eCare NEXT® platform to automate patient management and revenue cycle workflows will find that Prior Authorizations can be integrated seamlessly. This single-vendor solution allows providers to improve efficiency even further for faster processing times – and faster payments. Contact Experian Health today to streamline, simplify and speed up the pre-approval process with prior authorization software.