athenahealth acclaimed by Frost & Sullivan for being at the forefront of solving critical RCM challenges and powering providers with agile solutions during the Covid-19 pandemic
SANTA CLARA, Calif., Aug. 18, 2020 /CNW/ -- Based on its recent analysis of the United States revenue cycle management (RCM) market, Frost & Sullivan recognizes athenahealth, Inc. with the 2020 United States Company of the Year Award for driving an innovative portfolio of RCM solutions that optimize collections for providers in both fee-for-service and value-based reimbursement. athenahealth's agile and interoperable solutions allow customers to visualize the patient's journey across the care continuum and leverage actionable data to make more informed financial decisions.
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
athenahealth offers one of the largest RCM portfolios, with both cloud-based and on-premise solutions, to address a broad range of customer requirements. This includes athenahealth's medical billing services for independent practices, such as claims management, contract management, and collection, and the company's recently rebranded athenaIDX enterprise RCM solution that meets the needs of large, complex health systems. athenahealth's RCM deployment strategy allows health systems to customize their RCM workflows and optimize patients' financial experience.
"athenahealth has especially helped customers achieve higher efficiency and productivity at scale with the athenaIDX offering. Customers that were looking to reduce their revenue leakages and automate the manual intervention to patient access management and claims pre-adjudication have reported substantial improvement in aggregate revenue capture and industry-leading first-pass rate (95%) for all claims produced using athenahealth's solutions," said Koustav Chatterjee, Principal Analyst. "In addition to pure-play technical support, athenahealth offers a model for clients who value co-sourcing services as well as the company's best-in-class customer service that ensures practices are able to optimize RCM results and get the most out of their investments."
athenahealth offers a range of financial solutions that help providers automate back-end administrative responsibilities. These solutions deliver unprecedented efficiency in claims processing, denials management, and RCM performance reporting for both small and large health systems. For example, athenahealth has invested heavily in claims scrubbing solutions and incorporated an auto-updated rules engine that learns from every new financial transaction and remembers past patterns of successful and erroneous reviews. It helps customers report significant improvements in aggregate claims accuracy level and the speed at which they realize patient revenue.
"While healthcare providers have risen to the care delivery challenges brought by COVID-19, many have seen unprecedented declines in revenue. It is more important than ever that we help our clients navigate changing reimbursement requirements, especially with telehealth, and ensure that their revenue cycle is as efficient and effective as possible." said Bob Segert, chairman and CEO of athenahealth. "We are proud of the ways we're working with our customers during the pandemic so they can focus on caring for their patients while feeling confident in their back office revenue cycle support from athenahealth."
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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About athenahealth, Inc.
athenahealth partners with medical organizations across the country to drive clinical anclid financial results. Our vision is to create a thriving ecosystem that delivers accessible, high-quality, and sustainable healthcare for all, and we are pursuing this through our medical record, revenue cycle, patient engagement, and care coordination service offerings. Our expert teams build modern technology on an open, connected ecosystem, yielding insights that make a difference for our customers and their patients. For more information, please visit www.athenahealth.com.
SOURCE Frost & Sullivan