VIRTUSA
hospitals are struggling financially . This is the main reason Revenue Recovery was the initial product to launch .
Stoudt references two key factors to consider for provider organisations :
• Denial write-off adjustments average 3 % to 4 % of net revenue , which equates to US $ 262 billion in initially denied claims for healthcare providers annually
• One out of every five dollars of revenue cycle management ( RCM ) expenses are attributed to denials-related issues and to top it off , 67 % of denials are recoverable while 90 % of denials are preventable
Utilising Virtusa ’ s exemplary technology capabilities combined with Revenue Clinical
Solutions , clinical expertise providers will be provided an unparalleled solution to recover , grow and enhance their revenues .
Contract Management is focused on missed opportunities with Value-Based Contracts . Stoudt states millions of dollars are lost from shared savings and hospital organisations need the combined solution to be able to achieve the goals / initiatives that are required by payer organisations . Stoudt notes there are several key factors to consider for hospital organisations :
• Provider organisations are leaving potentially millions of dollars on the table by not ensuring that they have delivery models for their value-based contracts .
• Provider organisations can overcome these
138 August 2021