Reduces Costs and Enhances Accuracy for Healthcare Providers Through Payer Data Standardization
CUPERTINO, CA / ACCESSWIRE / June 11, 2024 / Infinx Healthcare, a leading provider of scalable, AI-driven patient access and revenue cycle solutions for healthcare providers, announced the launch of Intelligent Payer Mapping within its Patient Access Plus suite. This new feature streamlines the process of payer data standardization, addressing a long-standing challenge in the healthcare industry: the lack of standardized payer information.
Intelligent Payer Mapping simplifies the critical process of mapping healthcare providers' payer lists to Infinx's standardized payer database. This standard payer database is frequently synced against the payer lists of various benefits managers and payer entities, which ensures compatibility and reduces the complexity often associated with multiple payer nomenclatures.
Key revenue cycle processes, such as performing patient eligibility and benefit requests, obtaining prior authorizations, and checking claim statuses, rely heavily on accurate and standardized data. When healthcare providers want to automate these actions, it is crucial that electronic requests sent to clearinghouses, third-party administrators, benefit managers, or home plans include payer names that are consistent with those recognized by these entities. Any discrepancy in how payer names are represented can result in failed queries. Intelligent Payer Mapping ensures that all electronic requests are accurately processed, enhancing overall efficiency and reducing administrative burdens.
"Healthcare providers frequently face the challenge of disparate systems and varied payer names that complicate data processing for eligibility or prior authorization requests," said Aakarsh Sethi, Principal Product Manager at Infinx. "Our Intelligent Payer Mapping capability not only reduces the time and potential for error in mapping these payers but also enhances the overall accuracy and efficiency of the automation processes we support."
Infinx's Intelligent Payer Mapping addresses the pervasive issue of data non-standardization, which has traditionally obstructed seamless data exchange necessary for effective process automation in healthcare settings. Unlike other methods, which often require manual and tedious mapping efforts, this solution leverages machine learning to automate and refine the mapping process, setting a new standard in the industry.
Impact and KPI Highlights: Infinx clients who have leveraged this capability see that AI accurately determines the correct payer on average 90% of the time for the first suggestion, underscoring the reliability and precision of this solution. Clients also report that implementation times and manual efforts have been significantly reduced with this solution, with timelines for patient access tasks down from weeks to a single day.
To learn more about Infinx's Intelligent Payer Mapping, visit https://www.infinx.com/intelligent-payer-mapping.
About Infinx
Founded in 2012, Infinx provides scalable, AI-driven solutions to optimize the financial lifecycle of healthcare providers across all functions of patient access and revenue cycle management. Our cloud-based software, powered by AI and automation, is supported by experienced consultants and billing specialists across the U.S., India, and the Philippines. We help clients capture more revenue, stay ahead of changing regulations and payer guidelines, and focus on patient care. For more information, visit www.infinx.com.
Contact Information
Erin Wabol
AVP, Communications
erin.wabol@infinx.com
SOURCE: Infinx Healthcare
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