Improve the visibility into your financial future.
Reducing costs and improving performance is on the top of every leader’s mind. In the healthcare claims space, this is especially important — increased rejections, reduced reimbursements, pressures on margins, erratic cashflows, and other bottlenecks and inefficiencies in claims management process can have huge impact on profitability. RevenueIQ helps prevent that.
RevenueIQ is a proprietary business intelligence solution offering actionable insights using key performance indicators and metrics to help you achieve your business goals. With RevenueIQ, identify key metrics such as denials, underpayments, contractual adjustments and patient outstanding, and stay in control of the money that is uncollected.
RevenueIQ is a HIPAA compliant solution that integrates with other business systems such as the practice management system and presents near real-time claims information through an intelligent dashboard. It is available for both practices and hospitals, onsite and on the cloud.
“RevenueIQ has greatly helped us not only on the collections front plugging all gaps, but has increased our own internal operational efficiency thus building credibility with our customers.
Flexible workflow mapping with minute tracking of all claims status has helped us to initiate corrective actions thus reducing the time to collect payments. Lucid’s support team responded to all our needs very efficiently.”
— GLN Prasad, Director, Data Marshall
What does RevenueIQ do for you?
- Provides visibility into key metrics, so you can efficiently manage your revenue cycle and cash flow.
- Forecasts cash inflow from claims.
- Provides visibility into expected cash flow while highlighting revenue at risk, using time-series analysis and predictive models.
- Enables you to monitor the metric trends against pre-defined goals.
- Helps manage denials by identifying reason codes and procedures triggering denials.
- Helps identify complex claims with multiple payers such as primary, secondary and tertiary.
- Supports effective payer contract negotiation by comparing payer performance and payer scorecard
- Enables comparison of billing charges against payer fee schedules to identify if billing charges need to be adjusted
- Helps predict likelihood of claim realization using statistical models.