US-based healthcare data company Availity has partnered with healthcare technology provider Iodine Software to improve aspects of the mid-revenue cycle for healthcare providers.
The partners will integrate Iodine's knowledge of clinical documentation integrity (CDI) and utilisation management (UM) into Availity's revenue cycle management platform, Availity Essentials Pro.
Through this, they aim to address the financial challenges faced by health systems by preventing revenue leakage and improving efficiency.
Iodine Software's machine learning (ML) technology will be a key component of the enhanced solutions offered to Availity's customers.
Designed to emulate clinical judgment, the technology assesses the full patient medical record to provide insights that aim to help clinicians make more accurate CDI and UM decisions.
Iodine and Availity said the collaboration marks a step forward in the responsible use of AI in healthcare technology.
Iodine's CognitiveML technology uses AI and ML algorithms to deliver predictive insights, which are crucial for maintaining the integrity of CDI and UM processes.
These insights aim to enable clinicians to work at their highest capacity, ensuring the accuracy of healthcare documentation.
Availity chief product officer Sean Barrett said: “We are thrilled to partner with Iodine to bring advanced mid-revenue cycle solutions to our customers.
“This collaboration aligns with our mission to support healthcare organisations in achieving their financial and clinical goals by leveraging innovative technologies.”
Availity Essentials Pro is used by more than two million providers, including health systems, hospitals and group practices.
The platform offers a suite of tools to address revenue cycle challenges such as claims management, denial management and vendor interactions.
Iodine Software co-founder and CEO William Chan said: “Our partnership with Availity represents a significant step forward in helping healthcare organisations improve their revenue cycles.
“By combining our mid-cycle expertise with Availity’s extensive network, we can provide unparalleled value to our customers.”
