Today marks a truly exciting time in Wind River’s history as we announce a key strategic partnership with Sift Healthcare. Personally, I’m really excited since I had the pleasure of meeting the Sift team prior to joining Wind River (Who starts working before their actual start date?), and I have been a strong advocate for their vision to leverage data by enhancing organizations’ efficiency.
Sift Healthcare brings a unique solution to the Wind River product portfolio that hasn’t been seen before. We are excited to incorporate our experience, knowledge and After the Handshake service with Sift’s technology in order to optimize revenue cycle management.
There are three key tenants to the Sift platform: Claims Workflow Intelligence, Reimbursement Performance Intelligence and Patient Financial Interaction Intelligence. I wanted to touch on each of them briefly and the benefits they provide.
About 75 percent of hospitals struggle with denials and typically use multiple revenue cycle and health record systems. According to HIMSS Analytics, denials are the biggest challenge in revenue cycle, bigger than revenue integrity, patient payment, collections and ICD coding. We know just about everyone is swimming in data these days, and they are on a quest to do something with it.
Claims Workflow Intelligence aims to:
Ever get the feeling that payers aren’t meeting their contractual agreements? Well, by looking at transaction history and applying analytics, payer scorecards are created that can proactively highlight issues and ensure agreements are being met.
Reimbursement Performance Intelligence can:
With the advent of high-deductible health plans (HDHP), patient payments now make up a large percentage of the revenue stream for providers. By predicting the patient’s responsibility along with the best way to maximize collection, we can ensure the highest return per patient. The result is a reduced cost in collecting payments. Faster payments and increased payments are possible, and an overall better experience is delivered.
Patient Intelligence includes:
By combining Wind River’s payment technology, expertise and first-class service with revenue cycle optimization, our partnership with Sift Healthcare can help organizations collect more and sooner. Wouldn’t you like to be able to reduce costs while increasing collections? We can make that happen today!