The Challenge
Due to the high-complexity reimbursement environment and large test compendium, Gravity was challenged with an enormous volume of data that had the potential to mask risk to their revenue cycle performance. High rates of denied claims puts unnecessary pressure on a lab’s financial health, and Gravity sought to stay in front of this through leveraging technology, automation, and AI.
For Gravity to improve their revenue cycle performance they needed a system that could sift through the mountains of data and deliver useful insights that would allow them to put an end to invisible threats to their financial health.
The Solution
The Gravity RCM Team partnered with Gistia - to detect and send alerts for items that would have a negative impact on denials and average payment rates. By processing financial, operational, and compliance data, Gistia’s machine learning algorithms helped the RCM Team see significant trend changes and uncommon claims.
The Results
The impact of this constant monitoring and delivery of focused notifications allowed the team to effectively address issues that would have negatively affected the revenue cycle.
They received automated intelligence briefings each morning on which payers and CPT codes to focus on, which clients to call, and which claims were affected.
As a result, in just six months using Gistia Intelligence, Gravity Diagnostics, for all non-covid tests experienced:
- A 24% reduction in rate of denials
- An Average Payment Rate Increase of 27%
With Gistia, Gravity protects their financial health in real-time, allowing them to stay ahead of potential revenue risks at every turn.
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