17 Jul 2018
JoTo PR client, Tranquilmoney, was featured in an article by Becker’s Hospital Review titled, Viewpoint: Big data, analytics can help physicians cut claim denials.
Physician practices seeking to improve efficiency and accuracy of billing and collections by reducing claim denials should focus on using big data and predictive analytics, according to Karun Philip, PhD, president and co-founder of healthcare technology company Tranquilmoney.
“Big data analytics can find data patterns such as causes of insurance claim rejections, strategies to follow and so on,” Dr. Philip stated. “This helps providers submit accurate claims as often as possible, allowing the reduced number of manual interventions to be more productive.” Additionally, value-based programs such as the Medicare Shared Savings Program can use artificial intelligence and data analytics to predict outcomes and treatment plans, he said. Data analytics also can be used in revenue cycle management and to determine margins for ancillary services and the most financially beneficial value-based contracts.
Tranquilmoney was incorporated in 1995 to provide solutions aimed at reversing the trend of doctors in independent practices feeling at a loss with the increased complexity of the business and regulatory side of the healthcare industry. The pattern of physicians selling their practices to large hospitals is one that is avoidable. Tranquilmoney has the tools in place to provide physician practices with financial management services, such as physician receivables management, pharmacy receivables management, healthcare insurance forms processing, and data capture services. In short, doctors can focus on patient care knowing that their practices are in order. The company is based in South Orange, New Jersey with back office facilities in Chennai, India. Tranquilmoney Inc. operates as a subsidiary of MM Group. For more, please see: http://www.tranquilmoney.com
Becker’s Hospital Review offers up-to-date business and legal news and analysis relating to hospitals and health systems with content geared toward high-level hospital leaders. The publication includes hospital and health system news, best practices and legal guidance specifically for those decision makers.
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