Denver, June 21, 2022 – HGS Healthcare announced today its momentum in the revenue cycle management (RCM) space as health systems look to strengthen the balance sheet and recover financially from the COVID-19 pandemic.
After a devastating COVID-19 surge last winter, early signs show U.S. health systems may be on the road to financial recovery as outpatient volumes and revenues improved in March, according to Kaufman Hall. However, the combination of mounting inflation, labor shortages and global supply chain disruptions could continue to pose challenges to financial stability. Providers doubling down on RCM strategies such as clinical denials recovery are positioned to regain financial stability.
“From talent gaps to surging patient volumes that require the delay of elective surgeries, no matter what providers are facing, we support their financial health so they can focus on what they do best: patient care,” said Titus Leo,SVP and head of Healthcare Provider Practice, HGS Healthcare.
As a testament to the company’s strength in RCM, SVP of HGS Healthcare Clinical Practice and New Solutions Krithika Srivats and VP of Revenue Cycle Management at HGS Healthcare Dan Hillman will present on the topic at the HFMA Annual Conference in Denver on June 29 at 9:15 AM MT. The session, Overturning Clinical Denials with A New Approach, explores estimating propensity to deny as a means to improve clinical denials overturn rates and prevent clinical denials.
Further, the company was recognized as an Innovator in Avasant’s Revenue Cycle Management Business Process Transformation 2022 RadarView report. The recognition underscores HGS Healthcare’s recent momentum in the RCM market, as it advanced from the Innovator/Disruptor category last year.
The Avasant RCM Business Process Transformation 2022 RadarView highlights the key outsourcing trends in the RCM space and Avasant’s viewpoint on them. It aids companies in identifying the right strategic partners for their RCM transformation by offering an analysis of service provider capabilities in technology, domain expertise, and delivery-related support. Avasant recognizes HGS Healthcare as an Innovator based on its practice maturity, domain ecosystem, and investments and innovation. Setting the company apart is its focus on using automation, AI and analytics and leveraging RCM and technology partners to transform denials, billing and claims processes.
“Put simply, revenue cycle management helps providers get paid for the services they render. But in practice, it’s never that simple,” said Leo. “Our unique RCM services combine the best in human expertise and the latest technology with the right amount of automation to direct the focus to maximize returns for health systems.”
Having strong relationships with both payers and providers, HGS Healthcare brings unique and in-depth expertise to provider RCM. The company has recovered more than $1 billion in denied insurance payments – some of providers’ toughest claims.
About HGS Healthcare
HGS Healthcare combines technology-powered services with decades of healthcare domain expertise to drive positive outcomes. In addition to offering end-to-end RCM services for healthcare provider clients, we optimize the entire member/patient experience through service offerings for clinical, case management, member engagement, provider solutions, payment integrity, claims cost containment, and analytics for payers. HGS Healthcare has more than 21,000 employees across 5 countries and revenues of US$400 million.