New Coverage ID™ solution reveals untapped revenue sources while reducing staff effort to deliver significant financial benefits for healthcare organizations
NASHVILLE, Tenn., March 11, 2024 /PRNewswire-PRWeb/ -- RevSpring, the leading provider of healthcare engagement and payment solutions, launches Coverage ID™ today at HIMSS 2024, making coverage discovery an integral component of a connected patient financial experience through its comprehensive Engage IQ™ patient engagement and payments platform. Coverage ID is a holistic coverage identification approach to improve cost estimates, enhance real-time eligibility results, increase revenue and save staff time by reducing the manual processes associated with claim rejections and denials.
With Coverage ID, coverage discovery is conducted proactively throughout the entire patient financial experience to fully apply available coverage, minimize patient out-of-pocket expenses and optimize payments. Because Engage IQ uniquely spans the entire patient experience—from pre-care to post-care to payment—coverage discovery can now occur in one coordinated fashion as part of patient intake and registration, patient access screening and estimates—prior to printing a statement. It also can happen in conjunction with identifying charity solutions.
Other benefits of Coverage ID include:
- Boosting reimbursement opportunities and payment turnaround time
- Decreasing claim denials by discovering previously unknown coverage for patients
- Reducing patient statement and collection costs by identifying coverage prior to statement or collection file generation
"Engage IQ helps our customers increase revenue streams with a holistic and intelligent approach to patient engagement," said RevSpring CEO Scott MacKenzie. "Because Engage IQ orchestrates the patient experience from end to end, we have a distinct ability to infuse coverage discovery throughout the entire patient journey. This increases pay rates while advancing revenue cycle goals for our healthcare customers."
Coverage ID takes a unique approach to coverage discovery by performing a complete and thorough scan of possible patient insurance with innovative data analysis methodologies. This process funnels through multiple data sources, which delivers the most comprehensive and most accurate coverage results possible by identifying active coverages at local, state and national levels that otherwise would have gone unutilized.
Engage IQ is an intelligent, holistic engagement platform that coordinates patient interactions from pre-care to post-care to payment. Engage IQ is seamlessly integrated to reduce effort, increase satisfaction, improve outcomes and solidify patient loyalty. With end-to-end control over its entire suite of coordinated patient communication solutions, RevSpring has a unique advantage, allowing seamless integration and optimization of coverage discovery at strategic points throughout the entire patient engagement process. The Coverage ID solution can be applied as a component of RevSpring products or as a standalone solution.
RevSpring will showcase the Engage IQ™ patient experience platform at HIMSS 2024, booth 3827.
About RevSpring
RevSpring leads the market in healthcare engagement and payment solutions that inspire patients to participate in and pay for their healthcare. We've built Engage IQ™, the industry's only connected patient engagement suite designed to coordinate patient interactions from pre-care to post-care to payment. RevSpring's intelligent, holistic platform puts patient understanding at the center of one connected personal experience, allowing providers to fully optimize patient satisfaction, data accuracy, staff efficiency and financial outcomes. The company's OmniChannel communications and payment solutions are backed by intelligence, analytics, contextual messaging and user experience best practices. RevSpring was rated #1 for Most New Capabilities in Patient Engagement by KLAS in 2023 and Best in KLAS in Patient Communications in 2024. To learn more, visit revspringinc.com/healthcare. Follow RevSpring on LinkedIn and X (formerly Twitter).
Media Contact
Kristen Jacobsen, RevSpring, 7639235280, [email protected], www.revspringinc.com
Kellie Kennedy, The Harbinger Group, 3129334903, [email protected], www.theharbingergroup.com
SOURCE RevSpring
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