San Jose, Calif.-based Infinx Healthcare announces the launch of its AR Optimization Solution (AROS), which provides radiology groups and imaging centers with the ability to predict and realize maximum revenue from their outstanding aging payer accounts receivables (ARs). The new artificial intelligence technology uses advanced machine learning capabilities to turn data into actionable insights that optimize AR recovery and decrease write-offs.
“The inability to predict recoverability of aging AR impacts the revenue cycle leading to ineffective efforts and poor recovery,” says Navaneeth Nair, Infinx’s vice president of products. “With the Infinx AR Optimization Solution, radiology groups will benefit from higher cash flows, faster recovery time, and reduced aging, as well as improved margins and shareholder value.”
Here’s how the Infinx AR Optimization Solution streamlines the AR recovery process:
- It automatically examines outstanding ARs, including denied claims data, and performs calculations to forecast collectibles and collection timelines accurately
- It provides accurate collectability of each individual charge through machine learning prediction-based algorithms.
- It combines recovery predictability with other factors like timely collections and cost of collection to recommend charge recovery prioritization.
- It maximizes follow-up activities by prioritizing charge recovery to capture every possible dollar, optimize cash flow, and prevent claims from missing timely filing limits.
Moreover, the Infinx AROS integrates with existing billing systems that manage AR follow-up activities. “With our AR analytics, radiology revenue cycle teams will now have access to insights that provide transparency into aging AR recovery efforts and revenue improvements,” adds Nair. “These pilots have proven our technology scales but, more importantly, demonstrate the benefits of AI and machine learning technology in the recovery process by yielding better AR results for the radiology provider and their patients.”