Ozark, MO – April 1st, 2024 – HealthRev Partners, a leading innovator in healthcare technology, has announced the launch of Velocity as a Software as a Service (SAAS), revolutionizing revenue cycle management in the home health, hospice, and palliative care industries. This game-changing solution is designed to transform revenue cycle management (RCM) for multi-site agencies. In an era where the aging population in America increasingly desires to age in place, mergers and acquisitions in the home health space are driving the necessity for centralized data and operational processes. The trend of overseas hiring to reduce costs has created gaps in insights, emphasizing the critical need for real-time data to impact care promptly.
Michael Greenlee, Founder and CEO of HealthRev Partners, expressed his enthusiasm about the launch, stating, “Velocity as a SAAS represents a significant leap forward in revenue cycle management technology. By offering agencies unprecedented insights into their operations and empowering them with tools for optimization and growth, HealthRev Partners is setting a new standard in RCM solutions.”
Empowering Multi-Site Agencies and Enhancing Management Insights
As multi-site agencies navigate the complexities of managing diverse locations and teams, the demand for comprehensive insights and seamless integration becomes critical. HealthRev Partners recognizes this challenge and introduces Velocity as a SAAS to address the evolving needs of growing agencies. With a focus on providing real-time analytics and enhancing operational efficiency, Velocity bridges the gap between disparate locations and centralizes data for streamlined management.
Seamless Integration with Any EHR System
A key component of Velocity is the data exchange interface engine feature set. The ability to connect, integrate, translate, and import financial, claims, coding, clinical, operational, EHR, clearinghouse, and diverse data sets is vital for any organization. Velocity uses its proprietary interface technology engine along with robotic processing technology (RPA) to connect all disparate data sets within Velocity resulting in actionable data at your fingertips.
AI Capabilities to Increase Coding Accuracy
Velocity harnesses AI capabilities to automatically assign charts to coding professionals, enhancing efficiency and accuracy. By leveraging artificial intelligence, it streamlines the ICD-10 coding process and provides intelligent suggestions for selecting codes at the highest level of specificity to maximize reimbursement. Additionally, it utilizes advanced algorithms to analyze data and offer insights into PDGM-approved primary codes and comorbidity adjustment categories. Furthermore, Velocity’s AI-driven system assists in risk and comorbidity adjustments by recommending compatible code combinations and presenting primary and secondary code sets to facilitate precise coding decisions.
Key Advantages of Velocity:
- Increased Transparency and Visibility: Real-time insights into all aspects of the revenue cycle across multiple sites. Identify bottlenecks, track productivity, and optimize operations seamlessly.
- Enhanced Efficiency and Accuracy: Streamlined processes and standardized procedures that ensure consistency across all locations. Improve accuracy in coding, claim submission, and reimbursement.
- Improved Communication and Collaboration: Facilitate real-time data sharing between clinical, financial, and operational teams at different sites. Enhance collaboration and decision-making.
- Scalability and Security: Easily scale operations to accommodate growth needs while maintaining top-tier data security standards. Ensure compliance with regulatory requirements across all locations.
Michelle Mullins, MHA, BSN, RN – Partner & Chief Operating Officer of HealthRev Partners, highlighted the transformative impact of Velocity by stating, “Velocity illuminates your RCM’s path to predictable revenue. It empowers agencies with granular insights, customizable control, streamlined operations, and trustworthy security. This tool is not just a solution; it’s a revolution in revenue cycle management.”
A Pivotal Moment for Agencies
The launch of Velocity as a SAAS marks a pivotal moment for agencies seeking to optimize their revenue cycle processes. With its focus on transparency, efficiency, communication, scalability, and security features, Velocity is poised to reshape how agencies manage their RCM operations.
For more information about Velocity as a SAAS or to schedule a demo, visit HealthRev Partners’ website. https://healthrevpartners.com/
