MedAssist, a provider of revenue cycle solutions for hospitals, and Gaffey Healthcare, a provider of automation technology for hospital revenue cycle, announced a new partnership that offers MedAssist hospital customers a path to improve their net revenue position. MedAssist will begin leveraging the Gaffey AutoStatus technology to achieve greater efficiency in parts of the claims management process.
“Hospitals often have large volumes of insurance receivables aged 30 days and greater. Yet little information is available regarding why such claims remains unpaid,” said Noel Felipe, division president for MedAssist. “In helping hospitals collect these accounts, 20-30% of processing time is spent researching why a claim remains unpaid and how to get it paid. By utilizing the Gaffey AutoStatus technology, our team reduces inefficiencies in that work enabling more focus on value-added efforts such as working denied claims and other activities directly impacting our customers’ net revenue position.”
According to a press release from MedAssist, the Gaffey Healthcare AutoStatus tool automates the process of retrieving patient claims statuses in a fraction of the time of traditional, manual methods. The technology-driven data management service interfaces with payors to update electronic claims statuses, and can process large amounts of claims often during off-peak hours. The results aim to improve business office workflow by notifying collectors of what claims have been processed, adjudicated or if immediate action or follow-up is needed.
“What ultimately sets Gaffey apart is that their technology is based on their deep experience leading and operating hospitals,” said Venkat Raman, CEO for MedAssist. “They know what it’s like on the inside and how technology needs to work in a real environment. With Gaffey we elevate our capabilities, and more importantly, a path for our customers to achieve better financial results and better experiences for their patients.”
“MedAssist is an exciting opportunity,” said Derek Morkel, CEO for Gaffey Healthcare. “We all want to improve the financial patient experience. That’s tough to achieve without eliminating inefficiencies in the back office revenue cycle work. MedAssist is in the trenches with their hospital customers every day. Now, armed with AutoStatus, they are better positioned to help their customers achieve better results.”