Revint recently acquired Praxis Healthcare Solutions which now adds hospital AR recovery services to our Revint Solution Suites. This strategic acquisition strengthens Revint’s position as a leading provider of revenue recovery and denials management services.
Through actionable reporting, Praxis’ insurance recovery expertise brings:
- 70+% decrease in preventable denials
- Insight into root causes of denials
- Classification of issue types to pinpoint specific denial reasons
- Identification of business process improvements to avoid claim delays and denials
- Detailed reporting on denial types, resolutions, and denials by payer
This focus on denials brings new AR recovery strategies and tactics to our Payer Accountability Suite. Together with our previous strengths, this addition makes for a very robust solution.
It’s been reported time and time again that the vast majority of denials are preventable. However, payer denials continue to remain one of the biggest revenue cycle challenges facing hospitals today. It’s time we combat these issues with actionable results that turn into cash!
“We look forward to bringing the Praxis expertise and success to the Revint family,” said April Kooiman, Chief Executive Officer of Praxis. “By joining forces, we are strengthening our teams to offer a premium denial management and account receivables recovery service to the provider community. Our team is confident that the business will continue to grow and thrive under this new partnership.”
Healthcare executives across the industry are searching for smart ways to strengthen hospital AR recovery. In an article at RevCycle Intelligence, an observation is made that, “automating the medical billing and claims management process could help providers retrieve reimbursements from rejections and denials in a timelier manner. The HIMSS Analytics report stated that organizations with a vendor solution were able to better identify root causes of denials, manage resolutions, and reduce write-offs.”
“Given the complexities around submitting claims and the labor associated with managing denials, it came as a surprise that more organizations have not automated the denial management process through a vendor-provided solution,” stated Brendan FitzGerald, HIMSS Analytics Director of Research.
Revint will continue to report on tactics and strategies for hospital AR recovery solutions and looks forward to continuing to provide the market-leading solutions suites for our hospital clients.