How did the revenue cycle department of a 2,000-bed health system reduce cost to collect when its existing staff struggled to keep up with the current volume of claims? By hiring Olive’s AI-powered workforce to automate its highly manual claims management process.
Before hiring Olive, more than 300 revenue cycle associates were manually checking claim statuses — striving to get to each of the 3,500 daily claims but constantly falling behind. The irony? Every minute spent checking the status of a claim detracted from the chances of recouping payment on the 70 percent of claims that needed follow-up action. Facing a mandate to drive down costs to meet division goals, the revenue cycle department knew it had to address inefficiencies in their claims follow-up process.
As the health system’s AI-powered workforce, Olive now checks the status of 100 percent of hospital, professional, lab and home care claims daily, so associates can focus their time on claims needing follow-up action.
Download the case study and learn how this health system was able to improve its bottom line and keep services affordable for the thousands of patients it serves every year thanks to Olive.