SAN JOSE, Calif., March 26, 2020 /PRNewswire/ -- Infinx Healthcare announced today it is offering its Infinx AR Optimization Solution (AROS) with no upfront fees to support radiology and imaging centers impacted by the COVID-19 pandemic. The Center for Disease Control (CDC) has requested that non-essential imaging procedures be rescheduled until further notice, creating a revenue crisis for radiology groups and imaging centers across the country.
Infinx AROS provides radiology groups with the power to analyze, predict and realize maximum revenue from their outstanding aging payer accounts receivables (AR). The new artificial intelligence solution uses advanced machine learning capabilities to turn data into actionable insights that optimizes AR recovery and significantly decreases costly write-offs.
A recent pilot of the Infinx AROS with a large radiology group demonstrated significant results, including*:
- A 26.1% increase in denial collections
- A 60% reduction of >120 days aged AR in 6 months
- An improvement of 12% in first-pass payments
- A 60% reduction in cost to collect
"The guidance provided by the CDC is sound protection for all healthcare providers, but also severely impacts the ability of radiology groups to maintain their revenue cycle," said Navaneeth Nair, Infinx's Vice President of Products. "We're offering special contingency pricing to support this important segment during this time of need. With AROS, groups can quickly and easily generate additional revenue from their aging AR without adding staff or increasing administrative costs."
Infinx AROS provides real-time analytics, predictive recovery insights, and performs prioritization of the outstanding charges, that significantly improve recovery over manual efforts. The scalable infrastructure of Infinx AROS acts as an extension of your AR team, reducing costs and improving collections.
"Our Infinx AROS seamlessly integrates with existing billing systems that manage AR follow-up activities," said Nair. "By providing these advanced tools to speed up their AR recovery efforts, we hope the revenue generated will help bridge some of the gaps they are experiencing during this unprecedented time."
For more information about Infinx AROS special contingency pricing during this COVID-19 pandemic, click here.
*Based on a case study of a radiology group with an average billing of $71M per month and $25.7M average collections per month.
About Infinx Healthcare
Infinx provides innovative and scalable prior authorization and revenue cycle management technology solutions for healthcare providers, hospitals, imaging centers, cardiology and orthopedic practices, and laboratories. Infinx helps clients preserve and capture more revenue, enabling them to shift focus from burdensome administrative details to improving patient care and experience. For more information, visit www.infinx.com.
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SOURCE Infinx Healthcare