HealthRev Velocity is a proprietary, AI-powered SaaS solution designed to transform Revenue Cycle Management (RCM) for multi-site home health, hospice, and palliative care agencies. The platform is offered as a stand-alone software solution for in-house RCM teams or as a full-service solution paired with HealthRev Partners' dedicated RCM experts.
Key Benefits & Value Proposition:
- Predictable Revenue: Accelerates cash flow and creates predictable revenue by reducing denials and expediting reimbursements, aiming for a 98% first-pass claim approval rate and up to 40% fewer denials.
- Unmatched Transparency: Provides real-time analytics and customizable RCM dashboards, allowing agencies to track billed-to-paid trends, monitor unbilled revenue, and gain actionable insights into every stage of the revenue cycle.
- Operational Efficiency: Includes features like automated Quality Assurance (QA) for charting and documentation, clinician productivity reports to identify training needs, and a centralized Claims Queue for managing follow-ups and priorities.
Main Features and Capabilities:
- Centralized Claims Queue: Provides a single view of all claims with assigned billers, statuses, follow-up dates, and priority, ensuring no claim is left behind.
- AI-Powered Tracking & Forecasting: Utilizes AI to track claims in the 61-90 day and over 90-day segments and can provide revenue forecasts based on current system data.
- Platform Agnostic Integration: Integrates with any existing Electronic Medical Record (EMR) system, with pre-built roadmaps for over 15 EMRs, allowing agencies to switch EMRs without losing historical RCM data.
- Accounts Receivable (AR) Management: Features a color-coded AR management dashboard to highlight balances needing immediate attention, helping to prioritize follow-ups and reduce write-offs.
- Compliance & Review: Includes Coding and OASIS Review services, HIPAA-compliant notifications, and is a SOC 2 Type II Certified Software.
Target Users and Use Cases:
- Target Users: Administrators, financial officers, RCM teams, and clinical leadership at multi-site home health, hospice, and palliative care agencies.
- Use Cases: Revenue cycle management, coding accuracy, claims denial reduction, cash flow acceleration, financial forecasting, and clinician performance optimization.