As we move through Q4, many healthcare leaders are still grappling with financial challenges. As President and Chief Growth Officer of Access Healthcare, my primary focus is supporting our clients' financial performance by making their revenue cycle processes more efficient for better financial outcomes. We provide support to hospitals and health systems along with more than half a million physicians across the country by streamlining front, middle and back-end RCM functions through the deployment of our industry-leading processes, highly experienced and well-trained workforce of more than 27,000 RCM experts and proprietary technology. The results? We boost our clients' cash collections, enhance the operating margins, enabling them to reinvest in their organizations and drive further growth.
According to a recent Healthcare Finance News article, today's CFOs are balancing the high stakes landscape of the fiscal health of their systems by managing lower reimbursements, payer denials, and rising labor costs, especially in nursing and medical tech roles. These challenges are impacting the bottom line and can affect clinical care.
One way Access Healthcare can assist healthcare organizations achieve their financial goals and deliver better care to their patients is through our AI and machine-learning based proprietary technology and analytical tools. This technology analyzes thousands of claims data simultaneously to identify both upstream and downstream processes where revenue leakage is occurring and eliminates the root causes of denials.
Our cutting-edge proprietary technology in conjunction with our highly experienced workforce helps our providers better connect with patients, manage their charts more accurately, which leads to faster collections.
Recently, we helped one of our Northeast-based health system clients collect more than $10 million in additional cash flow from previously denied claims by deploying our echosmrt analytics tool to identify the wrongly denied claims and then using our smart AI-based automated workflow system to accurately follow and appeal those claims. By identifying the root causes of denials, we developed and deployed customized denials prevention strategy for this health system and reduced denials by 29 percent. This brought the AR days down by seven days and increased the net collection rate by 3.5 percent while it also reduced the cost to collect by 35 percent.
Access Healthcare helps clients become more efficient in the end-to-end RCM process by providing a comprehensive solution plan rooted in our award-winning technology and our team’s expertise. This allows our clients to provide top-notch care to their patients and further support healthcare providers in numerous communities across the nation.
All my best,
Kumar Shwetabh, President, and Chief Growth Officer for Access Healthcare
About Access Healthcare
Access Healthcare stands as one of India's largest and fastest-growing providers of healthcare business processes and technology solutions. Our team of over 27,000 professionals operates from 20 service delivery centers across three countries, emphasizing global delivery, workflow optimization, and our award-winning AI-enabled technology platform.
Since 2011, Access Healthcare has been a trusted partner to the US healthcare sector, leveraging domain expertise, technology, automation, and analytics to enhance clinical outcomes, financial performance, and operations for healthcare providers and payers.