Performance Compliance Consultants primary icon SCHEDULE A DEMO

How Gravity Diagnostics:

- Reduced Denials Rate by 24%

- Increased Average Payment Rate by 27%

Reduced Denials Rate by 24%

Increased Average Payment Rate by 27%

Gravity-Diagnostics-Logo-Stacked

About Gravity Diagnostics

Gravity Diagnostics is a state-of-the-art CLIA-certified CAP-accredited laboratory licensed in all 50 states, that currently cares for thousands of customers from small private practices to universities to Fortune 500 companies.

They offer innovative laboratory testing in the areas of toxicology, pharmacogenetics, infectious disease, COVID-19, microbiology, and blood hematology.

Executive Summary

  • Gravity Diagnostics’ revenue cycle team received daily notifications with ‘intelligence’ leading them to identified risks to their RCM early enough to address and resolve the issues.
  • The monitoring and detections by Gistia empowered Gravity’s team to quickly address issues that would otherwise be invisible.

Results:

  • A decrease in denials rate of as much as 15 percentage points MOM on key lines of business in 2022, with overall impact being a 24% reduction in denials rate YOY 2021-2022
  • A 370% increase in rate of denials resolution from May 2021 through April 2022
  • An increase in average payment rate of 27% YOY 2021-2022

The Solution Icon  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 Problem Icon  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 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.

 

Getting started is easy

Schedule a risk-free demo to get started

STEP 1

1. Schedule a Demo

A casual conversation about your situation and we'll show you Gistia

STEP 2

2. Implement Gistia

Implement Gistia to detect risks and empower you to take action

STEP 3

3. Win the game of Revenue

Embrace your new powers to win at the game of healthcare revenue