Navicure, a provider of cloud-based healthcare claims management and patient payment solutions, announced the launch of Navicure Perform, an analytics solution that enables healthcare organizations to leverage their real-time claims and remittance data from Navicure’s claims management solution to provide actionable insights into their revenue cycle.
Leveraging data and analytics for financial performance improvement continues to be one of the most important priorities for healthcare organizations, according to a press release from Navicure. In the recent Health IT Industry Outlook Survey, the largest share of respondents (33%) named data analytics and business intelligence as the most important topic in health IT. Navicure Perform is a cloud-based and healthcare-specific solution that identifies bottlenecks impeding cash flow, so organizations can address issues as they happen and prevent them in the future.
More specifically, Navicure Perform offers the following features and functionalities:
- Pre-configured, turnkey dashboards to identify and monitor trends associated with the four core phases of the revenue cycle: claims submission, rejection, denials and cash flow performance
- Ability to identify and then correct problematic claims from within one revenue cycle management (RCM) platform
- Insight into core revenue cycle metrics including first-pass rate, rejection and denial rate trending, in addition to charge lag by payer
- A library of interactive reports that are easily configurable to meet specific needs including access to comprehensive, top-level analytics across an organization’s practices, facilities and providers
- Peer benchmarks to compare performance against similar organizations
- Visibility into staff proficiency and productivity to identify additional areas of improvement
“Navicure Perform was designed with healthcare organizations in mind, leveraging Navicure’s more than 15 years of experience helping them improve RCM,” said Jim Denny, co-founder and CEO of Navicure. “Navicure Perform’s dashboards provide relevant, integrated information and insight that organizations can immediately leverage without having to create or sift through confusing reports. It allows our clients to drill down into specific areas of concern, learn how to fix those issues and make improvements that will positively impact the bottom line.”