Based on its recent analysis of the US ambulatory revenue cycle management (RCM) market, Frost & Sullivan recognizes Chicago-headquartered Allscripts with the 2019 United States Company of the Year Award. It offers end-to-end RCM solutions through its proprietary technologies (Allscripts Practice Management ™ and EPSi) across various clinical, financial, and operational ecosystems. Its full-spectrum service line that includes coding compliance management, electronic data interchange optimization, claims reconciliation and auditing, and contact center support ultimately drives best-in-class results for its customers.
“Over the last 3 years, Allscripts’ RCM business unit has grown more than 200 percent. Today, the company delivers tangible returns for a wide range of customers that include more than 180,000 physicians in single and multi-specialty offices in every US state,” said Koustav Chatterjee, Industry Analyst. “Allscripts continues to innovate its offering to adapt to changing market needs by integrating with third-party applications such as Opargo, which leverages predictive analytics to optimize patient scheduling; and Melissa Data, which performs patient verification for benefits eligibility assessment.”
Unlike its competitors that aspire to fully automate RCM with the help of AI-based contract management and thereby, eliminate practices’ need for in-house billing offices, Allscripts (allscripts.com) has remained flexible in its approach by presenting both full and shared RCM services. Allscripts’ customizable RCM services are an industry best practice. The shared services bundle allows practices to keep their critical workforce that can co-perform various RCM services including patient access management and claims processing with Allscripts, while retaining control over denials management and self-pay follow-up functions. As a result, the company was able to demonstrate over 98 percent first-pass clean claims rate.
The company ensures that its ambulatory clients are fully involved in both strategic and tactical RCM recommendations related to front-line financial decisions so it can deliver increased collection and quicker turn-around time. Allscripts stands out because of its data-driven approach that drives standard workflows, consistent processes, and real-time communication. Profitability benchmarking, root-cause analysis, open issues tracking, and denial trending are other valuable RCM analytics services that Allscripts provides through its consolidated account management and executive oversight service lines.
“Allscripts has remained a leading healthcare IT vendor for many years due to its wide reach, transparent pricing, and best practices-led customer services. As a result, the company has retained important clients that represent different customer groups,” noted Chatterjee. “By significantly boosting the financial performance of physician practices, Allscripts has established itself as the RCM service provider of choice in the US market.”
Each year, Frost & Sullivan presents a Company of the Year award to the organization that demonstrates excellence in terms of growth strategy and implementation in its field. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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