Ingenix Revenue Manager Launches Today, Enables Hospitals to Improve Revenue Cycle Management, Billing Accuracy and Profitability
Ingenix Consulting Expertise Combined With Proactive Software Enables Hospitals to Simplify Administrative Processes and Reduce Costs
Eden Prairie, Minn., (June 16, 2009) –
Ingenix today introduced Ingenix Revenue Manager, a suite of new software applications that enables hospitals to proactively track, manage and automate revenue cycle functions, improve billing accuracy and reduce claims denials and administrative processes. These tools, which can also be combined with Ingenix Consulting services, generate insights that hospitals can use to identify root causes for claims denials, prevent denials from happening, automate appeals and improve profitability.
At a time when many hospitals are struggling financially, inefficiencies and inaccuracies in the billing processes alone cost them between three and seven percent of revenues annually, according to The Advisory Board Company.
Ingenix Revenue Manager is comprised of three modules – Denials Prevention, Appeals Automation, and Denials Analytics – that can be applied separately or as a suite to automate, update and monitor billing processes, reduce the number of days claims are delayed in accounts receivable, prevent denials and minimize collections costs.
“Ingenix Revenue Manager can be a vital tool in helping providers receive accurate and timely reimbursement for services delivered, which is the cornerstone of their financial viability,” said Bill Miller, executive vice president, Health Care Delivery Solutions at Ingenix. “Ingenix brings a unique, comprehensive view of these processes across all health care stakeholders that enables hospitals to identify errors before they occur and resolve the source of potential errors, simplifying transactions and improving accuracy.”
Ingenix also offers encoding, coding compliance and claims editing applications to boost hospitals’ efforts to reduce claim denials. These tools can be employed in tandem with end-to-end performance improvement consulting services from Ingenix Consulting for a complete solution to accelerate cash flow, improve net revenue and enhance the bottom line.
Ingenix Revenue Manager is a result of collaboration between Ingenix and DaVincian Technologies, a leading provider of real-time revenue, reimbursement and claims denial management applications. This partnership also led to the recent launch of Ingenix RAC Manager, an application that provides tools and automates workflow processes for managing RAC audits and preventing future denials. RAC Manager complements Ingenix Consulting’s RAC Support Services and can be used with the Ingenix coding compliance editor solution.
About Ingenix Consulting
Ingenix Consulting, a data-driven organization in health and human services, employs more than 1,000 consultants with experience working with hospitals, physicians, health plans, employers, government agencies and pharmaceutical companies. Ingenix Consulting is a division of Ingenix. For more information, visit www.ingenixconsulting.com.
About Ingenix
Ingenix, a UnitedHealth Group (NYSE: UNH) company, transforms organizations and improves health care through information and technology. Organizations rely on its innovative products, services and consulting to improve the delivery and operations of their business. More information about Ingenix can be obtained at www.ingenix.com.
Source: Ingenix
