Latest Innovative Technology Tracks Tens of Thousands of Payor Policy Updates, Reducing Denials for Healthcare Providers
Cincinnati, Ohio (December 9, 2021) – Ensemble Health Partners (“Ensemble”), the industry leader in revenue cycle management, announced today that the United States Patent and Trademark Office has granted Ensemble another patent for its innovative automation technology. The latest patented technology tracks payor policy updates, resulting in reduced denials, improved coding accuracy and enhanced productivity for healthcare providers. This is Ensemble’s sixth patent approved by the United States Patent and Trademark Office in 2021.
“Ensemble has tracked and documented more than 56,150 payor updates in 2021 alone. Not staying up to date with these changes leads to delays in payment, loss of revenue and extra work on the back-end of the revenue cycle for healthcare providers,” said Judson Ivy, Founder, President and CEO of Ensemble. “This latest patented technology relieves providers of the burden of manually tracking these policy changes, increases productivity and reduces denials, allowing them to focus on what they do best— providing exceptional care to their patients and communities.”
The new technology is capable of processing hundreds of thousands of payor policy updates every year. It drives workflow automation by:
- Receiving, maintaining and parsing plurality of payor policy updates.
- Assigning tags to payor policy updates based on predefined rules.
- Forwarding the relevant payor policy updates to the appropriate end users based on the assigned tags and applied rules.
Ensemble was awarded its first U.S. patents in early 2021 and currently has six additional patents pending for technological innovations by the Ensemble IQ (“EIQ®”) team. EIQ ® is a cloud-based analytics-driven revenue cycle operating platform that enables a highly efficient and intelligent workflow automation to apply our extensive domain expertise, automation and advanced critical intelligence to drive efficiency and yield. EIQ® is powered by an automation engine, which combines patent pending Note Wizard Automation with the latest intelligent data exchange technology, driving up to 60% productivity and 3-6% yield improvement.
“Today, most policy updates are distributed through newsletters or even word-of-mouth, resulting in a delay of knowledge and inaccurate information. Our mission was to develop a single point of origin tool, reducing administrative time and educating associates efficiently, all while increasing revenue for providers,” said Pieter Schouten, Ensemble’s Chief Product Officer. “The EIQ® platform allows healthcare providers to be more efficient, effective and accountable while also keeping the payor and patient in mind. The EIQ® platform is continuing to grow substantially and is redefining the possible in healthcare, with even more investment planned going forward.”
Ensemble partners with more than 280 hospitals across the United States to improve financial outcomes and patient experiences. Ensemble works with its partners to create a hands-on approach to help health systems forge a healthier path forward to improve financial performance, the billing process and customer service, allowing providers to focus on improving outcomes and reinvesting into patient care and the patient experience.
To learn more about Ensemble, visit EnsembleHP.com.
Ensemble Health Partners is a leading provider of technology-enabled revenue cycle management solutions for health systems, including hospitals and affiliated physician groups. They offer end-to-end revenue cycle solutions as well as a comprehensive suite of point solutions to clients across the country.