Compare AltuMED PracticeFit vs. Experian Health

The eligibility checker ensures comprehensive verification of patients' financial eligibility, conducting insurance analyses and monitoring for inconsistencies. Should any inaccuracies arise in the submitted data, our advanced scrubber utilizes deep AI and machine learning algorithms to rectify issues, including coding mistakes and incomplete or incorrect financial details. This robust software currently boasts 3.5 million pre-loaded edits, enhancing its efficiency in error correction. Additionally, automatic updates from the clearing house are provided to keep stakeholders informed about the status of claims in progress. The system comprehensively addresses all aspects of billing, from confirming patient financial information to managing denied or lost claims, and features a thorough follow-up process for appeals. Moreover, our intuitive platform not only alerts users about potential claim denials but also implements corrective measures to avert issues, while maintaining the capability to track and appeal lost or rejected claims. Overall, this integrated approach ensures a smoother and more efficient claims management experience for healthcare providers.

The process of patient access serves as the foundation for the entire revenue cycle management in healthcare. By ensuring that patient information is accurate from the outset, healthcare providers can minimize errors that often lead to additional work in administrative departments. A significant portion, between 10 to 20 percent, of a healthcare system's revenue is spent on addressing denied claims, with a staggering 30 to 50 percent of these denials originating from the initial patient access phase. Transitioning to an automated, data-oriented workflow not only mitigates the risk of claim denials but also enhances patient care access, thanks to features such as round-the-clock online scheduling options. Furthermore, patient access can be refined by streamlining billing processes through real-time eligibility checks, which provide patients with precise cost estimates during registration. Additionally, enhancing registration accuracy leads to greater staff efficiency, allowing for immediate rectification of discrepancies and errors, thereby preventing expensive claim denials and the need for further administrative corrections. Ultimately, focusing on these elements not only safeguards revenue but also elevates the overall patient experience.