{"id":9941,"date":"2024-06-24T13:28:30","date_gmt":"2024-06-24T13:28:30","guid":{"rendered":"https:\/\/twistkoala.com\/?p=9941"},"modified":"2024-09-12T08:46:34","modified_gmt":"2024-09-12T08:46:34","slug":"solventum-introduces-denial-prevention-solution-an-ai-powered-tool-empowering-health-systems-to-help-reduce-readmissions-and-improve-top-line-revenue","status":"publish","type":"post","link":"https:\/\/devserver.pw\/twistkoala.com\/solventum-introduces-denial-prevention-solution-an-ai-powered-tool-empowering-health-systems-to-help-reduce-readmissions-and-improve-top-line-revenue\/","title":{"rendered":"Solventum Introduces Denial Prevention Solution, an AI-Powered Tool, Empowering Health Systems to Help Reduce Readmissions and Improve Top Line Revenue"},"content":{"rendered":"\n

ST. PAUL, Minn., June 24, 2024 \/PRNewswire\/ \u2014 Solventum (NYSE: SOLV), [formerly 3M Health Care] today announced a new artificial intelligence (AI)-driven payment integrity and revenue cycle solution, Solventum\u2122<\/sup> Income Integrity System. In collaboration with Sift Healthcare, this solution is designed to help health systems not only reduce potential denials, but prevent them and ensure timely and accurate payer reimbursement.<\/p>\n\n\n\n

With tight margins and reduced resources, claim denials by payers are an ongoing challenge throughout the healthcare industry, leading to significant lost revenue and increased administrative costs. Healthcare organizations cited claims denials as the biggest revenue cycle management challenge, with more than half of respondents (58%) giving it a high ranking, followed by \u201cpayer-specific challenges \u201d (44%), staff (41%) and cost of collections. (26%).<\/p>\n\n\n\n

Targeting clinical documentation integrity (CDI), coding and review of utilization flows, Solventum aims to transform denials prevention by integrating machine learning-based interventions, coding and pre-billing validation at the front end of the care revenue cycle health.<\/p>\n\n\n\n

\u201cAs health care systems continue to face increasing write-offs due to the growing burden of denials, the current reactionary approach of relying on claims data to reverse engineer denials is not working,\u201d it said. Garry\u2019s Garrison, president, Health Information Systems, Solventum. \u201cOur new solution, developed in collaboration with Sift, will help equip health systems to move from a reactionary stance to a proactive strategy, ultimately preventing denials in clinical workflow.\u201d<\/p>\n\n\n\n

With this technology, healthcare providers are empowered to optimize payment outcomes by predicting reimbursement at every step of the patient\u2019s clinical journey. Operating as an integrated artificial intelligence (AI) agent within clinical workflows, Solventum Revenue Integrity provides health systems with near-real-time insight into reimbursement likelihood and provides strategic, compliant and actionable recommendations for intervention.<\/p>\n\n\n\n

\u201cOur objective in collaborating with Solventum is to reshape the way healthcare systems approach denial prevention and, more broadly, support a timely and accurate payer reimbursement outcome,\u201d said Justin Nicholls, founder and CEO of Sift Healthcare. \u201cThis solution facilitates near-real-time intelligence and guides data-driven decisions, truly empowering providers to optimize payment outcomes.\u201d<\/p>\n\n\n\n

The Solventum Revenue Integrity solution complements Solventum\u2019s existing healthcare information system software suite that supports the entire journey, from the first patient visit to final payment. To learn more about Solventum\u2019s Health Information Systems business, visit www.solventum.com\/his.<\/p>\n\n\n\n

About Solventum<\/u><\/strong>
At Solventum, we enable better, smarter and safer healthcare to improve lives. As a young company with a long heritage of creating new solutions to our customers\u2019 toughest challenges, we pioneer game-changing innovations at the intersection of health science, materials and data that change patients\u2019 lives for well \u2013 empowering healthcare professionals to perform at their best. See how at Solventum.com.<\/p>\n\n\n\n

About Sift Healthcare
<\/strong>Sift Healthcare is an industry-leading healthcare payment analytics and data science company. Sift\u2019s Payment Intelligence Platform, AI solutions and advanced analytics enable healthcare providers to fully utilize their payment data to reduce write-offs, accelerate insurance reimbursement, improve patient payment strategies and to optimize revenue cycle efficiency. To learn more about Sift Healthcare, visit www.sifthealthcare.com.<\/p>\n\n\n\n

SOURCE Solventum<\/p>\n\n\n\n

\"\"\/<\/figure>\n\n\n\n

#Solventum #Introduces #Denial #Prevention #Solution #AIPowered #Tool #Empowering #Health #Systems #Reduce #Readmissions #Improve #Top #Line #Revenue
Image Source : www.prnewswire.com<\/p>\n","protected":false},"excerpt":{"rendered":"

ST. PAUL, Minn., June 24, 2024 \/PRNewswire\/ \u2014 Solventum (NYSE: SOLV), [formerly 3M Health Care] today announced a new artificial intelligence (AI)-driven payment integrity and revenue cycle solution, Solventum\u2122 Income Integrity System. In collaboration with Sift Healthcare, this solution is designed to help health systems not only reduce potential denials, but prevent them and ensure timely and accurate payer reimbursement.<\/p>\n","protected":false},"author":3,"featured_media":10841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-9941","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-nutrition-diet"},"_links":{"self":[{"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/posts\/9941","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/comments?post=9941"}],"version-history":[{"count":1,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/posts\/9941\/revisions"}],"predecessor-version":[{"id":10849,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/posts\/9941\/revisions\/10849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/media\/10841"}],"wp:attachment":[{"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/media?parent=9941"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/categories?post=9941"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devserver.pw\/twistkoala.com\/wp-json\/wp\/v2\/tags?post=9941"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}