New Finvi and Porter Research Survey Reveals the Desire for a Unified Revenue Cycle Management Solution
BURLINGTON, Mass. (December 13, 2022) – Revenue cycle management leaders are looking for a unified RCM solution that can easily integrate with their existing infrastructure, according to a Porter Research survey commissioned by Finvi, a leading provider of enterprise workflow automation software built to accelerate revenue recovery and simplify the payment process.
In the survey, RCM leaders in healthcare centers across the United States identified the need for a more efficient and unified front-end solution—something that incorporates the critically important tasks of pre-authorization, scheduling, and pre-registration with efficient and effective (and patient-friendly)—revenue collection.
“Having all the tools available—from ensuring you have the correct insurance eligibility up front, to scheduling, to proper coding, and obviously claims processing, identifying underpayments, identifying denials, identifying trends—it just makes life easier,” said a revenue cycle director at a large healthcare system.
Pre-authorization, scheduling, and pre-registration were the tasks identified by survey respondents as the biggest pain points among their RCM activities. Without a fully integrated solution, organizations must rely on manual processes, leading to errors, delays in patient care, and even denials of payment. All of this results in a poor patient experience, as well as unnecessary frustration for healthcare organizations.
“The survey results show that organizations require a unified platform that automates and streamlines operations in the most efficient, scalable ways possible,” said Tim O’Brien, CEO at Finvi. “That strengthens our resolve at Finvi to deliver an intelligent workflow platform for healthcare providers and outsourcers that creates a seamless end-to-end user experience, while providing tight integration with existing infrastructure.”
“Organizational needs change on an almost daily basis, and top solution providers, such as Finvi, continually use data to enhance their offerings and solve customer problems,” said Cynthia Porter, CEO of Porter Research. “Finvi uses a research-driven approach to enhance its products to address the immediate pain points of the markets it serves as well as its customers. Finvi takes great care to fully understand the needs of its target markets and provide organizations with advanced solutions to successfully compete today and stay prepared for future growth.”
Additional results and details from the survey can be found in a new White Paper from Finvi.
To learn more about Finvi, visit finvi.com.
Formerly Ontario Systems, Finvi is a premier provider of enterprise technologies that streamline and accelerate revenue recovery for clients across healthcare, government, accounts receivable management, and financial institutions. Through process automation and modern, compliance-minded communication and payment tools, Finvi allows its client partners to generate more revenue at reduced cost and fulfill their stated business outcomes by effectively engaging those who pay.
With offices in the states of Massachusetts, Indiana, New Mexico, Delaware, and Washington as well as employees across the country, Finvi continues to build upon 40 years of success using a distinctly human-centric approach to innovation and service. A recognized brand in the revenue cycle management (RCM) market, Finvi helps 600+ hospital networks—including 5 of the 15 largest systems in the U.S.—optimize cash collections and provide a single, satisfying patient financial experience. Finvi also serves 8 of the 10 largest ARM agencies in the United States as well as a number of financial institutions across the globe. Additionally, Finvi’s workflow platforms power governmental agencies and court systems across the country at the federal, state, and municipal levels.
About Porter Research
Porter Research works with healthcare and IT companies to develop and execute market research programs and create strategies using market intelligence uncovered. With 30 years of experience, we have worked with more than 300 IT companies, and complete thousands of interviews each year. This means we know your industry, we know how you need to use the data, and we execute the right research program to uncover what you can’t find on your own.
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