Olive Unveils New Solution to Automate Revenue Cycle Management Process

Autonomous Revenue Cycle reduces administrative burden, speeds claims processing and ensures accuracy

UNITED STATES, June 27, 2022 /PRNewswire/ — olivethe automation company behind the healthcare internet, today launched its Autonomous Revenue Cycle (ARC), the company’s flagship suite of revenue cycle management (RCM) solutions. Olive’s ARC redefines RCM by applying intelligent automation to reduce manual tasks, allowing healthcare organizations to focus more on patient care and reduce employee burnout.

Health systems and their finance teams are under pressure to deploy their resources as efficiently as possible while trying to ensure they are compensated for their services on time. At the same time, the growing volume of patients – and their data – coupled with continuously changing payer requirements and policies and outdated and fragmented systems make the administrative tasks associated with CMR complex, costly and risky.

Over the past few years, Olive has released many add-on revenue cycle automations that have helped leading healthcare systems by automating and improving tedious manual processes.

“We kept hearing from our customers telling us they wanted to scale with us, to help them rethink how they could transform their revenue cycle,” said barbie elmore, Senior Director of Product Management, Olive. “They wanted to know what was needed to implement our most complex automations, so we realized we needed to think about our products differently.”

Olive’s ARC is designed to manage tedious and time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid faster while reducing the risk of unpaid care. Olive’s ARC integrates with existing electronic health record (EHR) and practice management systems to leverage an organization’s data sources and claims data to become smarter and more efficient over time. time. Olive’s ARC was built on top of Olive’s Clearinghouse solution.

Olive ARC powers solutions in:

  • Patient access: Improves the patient financial experience and reduces the burden on healthcare organizations by automating the financial authorization process, including insurance eligibility verification, insurance coverage detection, l identifying benefits, determining a patient’s likelihood to pay, and flagging potential opportunities for patients who may qualify for financial assistance.
  • Refund management: Ensures claims are submitted correctly to payers for first pass adjudication, reducing denials and risk of underpayment. Claims status checks are automated so that billing teams prioritize the claims that need the most attention. Olive also takes corrective actions on denials, such as missing medical record attachments, to reduce manual and laborious denial workflows to increase reimbursement potential.

“Capturing accurate patient information for billing and medical records is critical to ensuring patients can receive the care they need when they need it,” said Rohan D’Souza, Product Manager, Olive. “With ARC, Olive is transforming what it means to be a clearinghouse by combining our intelligent automation and machine learning capabilities to transform the workflows of healthcare organizations to become smarter, more efficient, generate more revenue and improved patient care. Olive ARC aims to take the work out so organizations can provide quality care.”

For more information on Olive’s ARC and solution suite, attend one of Olive’s hosted conferences information sessions to HFMA Annual Conference or stop at booth #215.

About Olivier
Olive is the automation company creating the Internet of healthcare. The company is tackling healthcare’s toughest problems with automation, providing hospitals, healthcare systems and payers with increased revenue, reduced costs and increased capacity. People feel lost in the system today, and healthcare workers essentially work in the dark due to outdated technology that creates a lack of shared knowledge and siled data. Olive creates connections to shed new light on healthcare processes, improving operations today so everyone can benefit from a healthier industry tomorrow. To learn more about Olive, visit oliveai.com.

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ORIGIN Olive