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.
Claims Workflow Intelligence
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:
- Eliminate denials through claims scrubbing optimization
- Optimize denials management
- Provide coding review insights
Reimbursement Performance Intelligence
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:
- Create payer alerts that notify when changes occur and if intervention is needed
- Identify issues through contract management
- Identify overpayment, underpayment and procedure issues that need to be addressed with the payer
Patient Financial Interaction Intelligence
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:
- Propensity-to-pay analysis by behavior (not credit scoring)
- Presumptive charity
- Patient pay estimation
- Payment plan monitoring
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!
