Sep 5, 2024

Availity announced a strategic partnership with Iodine Software September 5, 2024 Availity, the nation’s largest real-time health information network, is excited to announce a strategic partnership with Iodine Software, a leading provider of innovative technology solutions for the healthcare industry. This collaboration aims to drive significant improvements in Clinical Documentation Integrity (CDI) and concurrent Utilization Management (UM), critical components in the mid-revenue cycle that affect inpatient reimbursement. Clinical documentation and UM represent a tremendous opportunity for health systems to optimize processes within the revenue cycle. According to the 2024 Revenue Intelligence Data and Insights Report, seven out of 13 identified revenue cycle stages could benefit from increased focus on CDI and UM. Delivering Mid-Revenue Cycle Solutions Availity provides its customers with cutting-edge solutions that add value throughout the revenue cycle. By partnering with Iodine, Availity aims to deliver enhanced mid-revenue cycle solutions to customers of Availity Essentials Pro™, an end-to-end revenue cycle management platform. Iodine’s expertise in the clinical mid-revenue cycle and its purpose-built machine learning technology that emulates clinical judgment, taking account of the full patient medical record, brings significant benefits to health systems. “We are thrilled to partner with Iodine to bring advanced mid-revenue cycle solutions to our customers. This collaboration aligns with our mission to support healthcare organizations in achieving their financial and clinical goals by leveraging innovative technologies,” said Sean Barrett, Chief Product Officer of Availity. Improving Revenue Capture In today’s challenging financial environment, health systems must evaluate multiple touchpoints to identify revenue leakage across the revenue cycle. Iodine’s solutions offer a comprehensive range of functionality, data and reports to both drive and monitor productivity and the financial impact of a health system’s CDI and UM programs. This is critical for building data-driven programs that enhance revenue capture and efficiency. “Our partnership with Availity represents a significant step forward in helping healthcare organizations improve their revenue cycles. By combining our mid-cycle expertise with Availity’s extensive network, we can provide unparalleled value to our customers,” said William Chan, CEO and Co-Founder of Iodine Software. Fully Realizing the Power of Responsible AI Both Availity and Iodine are focused on building the next generation of healthcare technology by leveraging responsible AI. Iodine’s pioneering technology, CognitiveML™, utilizes proprietary AI technology and machine learning algorithms to generate predictive insights that mimic the interpretations and determinations a human clinician would make while reviewing the same data. These insights help clinicians practice at the top of their license and are instrumental in enhancing the accuracy and efficiency of CDI and UM processes. Availity Essentials Pro serves over 2 million providers across hospitals, health systems, and group practices. The solution addresses critical healthcare revenue cycle pain points with features like pre-service denial management, post-service claims management, and streamlined vendor interactions. It offers advanced tools for claim edits, AI-enabled predictive editing, and remittance solutions, enhancing data quality and reducing errors. The platform also provides real-time eligibility verification, patient engagement tools, and robust analytics for informed decision-making. previous post