SYNERGEN Health is at the forefront of transforming the healthcare industry by integrating cutting-edge technologies, strategic leadership, and robust cybersecurity measures into our operations.
Our recent initiatives and achievements, highlighted in several high-profile media outlets, demonstrate a deep commitment to enhancing revenue cycle management (RCM) and addressing the industry’s evolving needs.
Check out the coverage of SYNERGEN’s proactive decision-making, innovative use of automation and AI, and resilience in the face of cybersecurity threats, underscoring our leadership in shaping the future of healthcare.
Proactive Decision-Making in Revenue Cycle Management
A Healthcare IT Today article discusses the importance of data analytics and business intelligence tools in making proactive decisions in RCM. These tools enable organizations to gain deep insights into financial operations, identify trends, and make informed decisions to optimize workflows and enhance cash flow.
“Through the utilization of data analytics and business intelligence tools, organizations gain deep insights into their financial operations, identify trends, predict outcomes and make more informed decisions,” said Robert Marinich, SVP of growth at SYNERGEN.
“KPIs such as days in accounts receivable (A/R), claim denial rates and net collection rates are monitored to assess financial health. This aids in identifying inefficiencies, streamlining processes, and enhancing cash flow.
“What this means for an organization is that advanced analytics can reveal patterns in claim denials, allowing for preemptive and prescriptive measures that help reduce rework and play a role in decreasing administrative costs.”
Leveraging Advanced Technologies and Automation
Another Healthcare IT Today article explores how advanced technologies and automation are transforming RCM processes. SYNERGEN uses cutting-edge solutions to streamline billing, coding, and claims management, reducing manual errors and improving overall efficiency.
“Robotic process automation (RPA) exemplifies how technology can efficiently handle repetitive tasks like data entry and claim status checks, enhancing accuracy and efficiency,” said Sunil Konda, SYNERGEN CPO. “We see improvements like a 50% increase in cash collections and a 40% faster turnaround time.
“With these technologies, organizations are improving their financial performance, allowing them to reinvest in patient care and service enhancements.”
Novel Applications of AI
SYNERGEN Health is leveraging artificial intelligence (AI) to revolutionize RCM. A third Healthcare IT Today article discusses AI’s potential to improve patient careand streamline administrative processes, with SYNERGEN’s solutions exemplifying this trend.
“By leveraging machine learning and predictive analytics, healthcare organizations can preemptively identify potential billing discrepancies and compliance risks before they escalate into financial losses,” Konda said.
“The result is a more efficient healthcare system with optimized resources and heightened patient satisfaction.”
Evolving Security Needs in Revenue Cycle Management
An article on RevCycleIntelligence explores the evolving security needs within RCM. SYNERGEN has implemented comprehensive security protocols to safeguard financial and patient information against increasingly sophisticated cyber threats, including SOC 2 plus HITRUST CSF type 2 and SOC 3 attestation.
“Typically, when you have these critical systems going down, it’s for a couple of hours at the most, and they are back up,” Konda said
“Once we realized that the downtime would be significantly longer, we actively started communicating with clients and looking for an alternative.”
Strategic Appointments: Jolene Varney Joins Advisory Board
SYNERGEN announced the appointment of Jolene Varney to its advisory board. Varney brings extensive experience in healthcare operations and revenue management. This strategic move was covered by Fierce Healthcare and Healthcare Tech Outlook, emphasizing the company’s commitment to strengthening its leadership team with seasoned industry professionals.
“Throughout my career, I’ve had the distinct pleasure of leading finance, revenue cycle, and change initiatives in healthcare,” Varney said.
“SYNERGEN’s impressive track record of innovation, growth, and client-focused success presents a wealth of opportunities for the continued development and reimagining of the Revenue Cycle Management industry.”
Complexities of Radiology Revenue Cycle Management
Teri Gatchel-Schmidt, VP of consulting and business development at SYNERGEN, detailed the unique challenges of radiology RCM in Aunt Minnie, highlighting the company’s expertise in providing end-to-end services and tailored solutions that address the specific needs of radiology practices.
“The bottom line for effective RCM and the financial health of radiology practices is adopting a holistic approach by integrating RCM considerations into every aspect of the practice, from patient registration and scheduling to coding, billing, and collections,” Gatchel-Schmidt said.
“Viewing RCM as an integral part of the patient care continuum, practices can optimize financial outcomes while maintaining high standards of care.”
Pioneering the Future of Revenue Cycle Management Automation
SYNERGEN Health continues to lead the way in revenue cycle management and capture headlines through innovation, team enhancement, and a strong focus on cybersecurity.
Our success in integrating advanced technologies, automation and AI, coupled with our deep domain expertise and a commitment to addressing industry challenges, position us as a formidable force in the healthcare industry.
To position your organization’s revenue cycle for future success, consider investing in technology, hiring specialized professionals, and regularly training your staff. For more detailed solutions and professional assistance, let’s chat.
