November 22, 2016
The healthcare technology market has drastically changed over the decade. The transition from fee-for-service to value-based payment models,declining hospital admission rates, Physician Quality Reporting System (PQRS) penalties, and escalating healthcare costs—all have contributed to the shrinking revenue figures in the healthcare sector. Today, to compete in this environment that demands clinical and operational efficiency, healthcare providers need to ensure that their financial operations that directly impact revenue generation capabilities are running efficiently. A well-managed revenue cycle management (RCM) system serves as the backbone to a healthcare providers financial health, as it can assess, optimize, and manage all components in obtaining patient clinical information, while creating a simplified, integrated workflow to ensure hassle free claims approval. Since, these processes run the show on the financial end of healthcare, RCM solution providers are driving innovation with their copious solutions. Our selection panel has evaluated hundreds of Revenue Cycle Management Solution providers based on their ability to assist CIOs and enterprise holders overcome the challenges in the sector and to help companies choose the perfect Revenue Cycle Management Solution. We present to you 10 Most Promising Revenue Cycle Management Solution Providers 2016. AntWorks Healthcare Fresh, Fearless, and Fast Struggling with a third-party biller that had not been able to meet their collection expectations, the Lung and Wellness Center switched to AntWorks Healthcare, and the results were quite remarkable. "Implementing our RCM solution in mid-2015, Lung and Wellness Center saw an increase of about 43 percent in collections, spread over two quarters," elaborates Joe Aromando, VP of Business Development. Driven by the 'customer first' principle, AntWorks Healthcare believes in the approach of 'maintaining zero distance' from the customer to enable faster and fearless delivery of fresh technology and business processes, thereby making itself an integral part of the customers organization. AntWorks Healthcare brings unique perspectives, experiences, and abilities through their 38 years of history in the Healthcare Billing, Revenue Cycle, Practice Management, and Medical Records space. Successful billing and practice management in today's industry has grown intricately to deliver with ARRA updates, meaningful use requirements, ICD 10 transformation, and MIPS. 'Bringing the history of experiences to the systems and services, our clients are guaranteed a sense of comfort that we can help carry them through this complex landscape,' states Aromando. The firm evaluates the challenges from a wider perspective and manages the current complexities that their client partners face. With their AntWorks Suite of Solutions offering Revenue Cycle Management, Practice Management, and Electronic Health Record (EHR) services, AntWorks is re-imaging IT for the healthcare landscape. Harnessing the firm's Practice and Revenue Cycle Management expertise, AntWorks is capable of delivering maximum reimbursement. The company's 45 points of financial analysis, and Red and Yellow threshold alerts are aligned with the goals of the customer. 'This allows us zero-transparency with our customers and together we are able to meet their financial goals and get alerts if we are even slightly off track,' adds Aromando. AntWorks also offers true consulting services and frequent performance reviews to assist groups in maximizing revenue and reimbursement. 'There are many vendors in the market that are offering billing services and Revenue Cycle Management services, but they don't chase down denials, work with insurance companies, and collect every dollar the client has earned and deserved,' differentiates Aromando. The firm's Revenue Cycle Management services streamline the healthcare process which boosts productivity, and mitigates risk of an organization's back end operations. With a financial analytics dashboard in their system, AntWorks translate financial analytics to a number of monthly and quarterly analytics reports to their RCM customers, ultimately boosting practice revenue. "Bringing the history of experiences to the systems and services, our clients are guaranteed a sense of comfort" AntWorks' EHR solution includes Chronic Disease Management, Clinical outcomes, Health Maintenance Alerts and management, Care Plan Management, evidence-based care and guidelines, Patient Outreach and Clinical Analytics. "These are the next steps in Healthcare and AntWorks is working with its partners and customers to further enhance these components within our EHR Solutions," states Aromando. With a strong hold in the healthcare technology market, the firm is also expanding its services in the Imaging and Robotics arena with their newest product, ANTStein Imaging RPA. "This is an Imaging Robotics Process Automation product that is replacing the 20-year-old, 60-70 percent accurate OCR technology," adds Aromando. "Because we are expanding our solutions globally, it is to the point now where our client partners are as much involved in our future direction as we are. We think the products stand very strong on their own, however together they are quite powerful and are evolving as we look forward into areas we didn’t even expect," concludes Aromando.