Olive Unveils New Solution to Automate the Revenue Cycle Management Process

June 27, 2022

Olive Unveils New Solution to Automate the Revenue Cycle Management Process
Autonomous Revenue Cycle eases administrative burden, expedites claims processing and assures accuracy

U.S.A, June 27, 2022 — Olive, the automation company creating the Internet of Healthcare, today launched its Autonomous Revenue Cycle (ARC), the company’s flagship Revenue Cycle Management (RCM) solution. Olive’s ARC redefines RCM by applying intelligent automation to reduce manual tasks, enabling healthcare organizations to focus more on patient care and alleviating employee burnout.

Health systems and their financial teams are under pressure to deploy their resources as efficiently as possible while also trying to ensure they are compensated for their services on time. At the same time, the increasing volume of patients – and their data – paired with ongoing changes to payer requirements and policies and outdated, fragmented systems make the administrative tasks associated with RCM complex, costly and risky.

Over the last few years, Olive has released many complementary revenue cycle automations which have helped leading health systems by automating and improving burdensome manual processes.

“We kept hearing from our customers that they wanted to go bigger with us, to help them reimagine how they could transform their revenue cycle,” said Barbi Elmore, Senior Director of Product Management, Olive. “They wanted to know what was needed to implement our most complex automations, so we realized we needed to think about our products differently.”

Olive’s ARC is designed to handle tedious, time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid quicker while reducing the risk of uncompensated care. Olive’s ARC integrates with existing electronic health record (EHR) and practice management systems to leverage an organization’s data sources and claims data to become more intelligent and efficient over time.
ARC is made up of three integrated suites: Olive’s Prior Authorization, Financial Clearance and Claims Management suites address healthcare’s biggest challenges across the revenue cycle.

  • Prior Authorization suite: Streamline the prior authorization process from eligibility through post-authorization monitoring to receive more approvals, reduce cancellations and reschedules and prevent write-offs.
  • Financial Clearance suite: Maximize revenue capture with high performance eligibility, comprehensive coverage discovery and a complete and accurate view of coverage information — with likelihood to collect built-in.
  • Claims Management suite: Modern clearinghouse technology proactively reduces denials by combining front and back-end automation, all while delivering a greater than 98% clean claim rate for our customers.

“Capturing accurate patient information for billing and medical records is critical to ensuring patients can receive the care they need when they need it, ” said Rohan D’Souza, Chief Product Officer, Olive. “With ARC, Olive is marrying our intelligent automation and machine learning capabilities to transform healthcare organizations’ workflows to become smarter, more efficient, drive more revenue capture and improve patient care. ARC aims to take the work away so organizations can deliver quality care.”

For more information about Olive’s ARC and the suite of solutions, attend one of Olive’s hosted informational sessions at the HFMA Annual Conference, or stop by booth #215.

About Olive
Olive is the automation company creating the Internet of Healthcare. The company is addressing healthcare's most burdensome issues through automation — delivering hospitals, health systems and payers increased revenue, reduced costs and increased capacity. People feel lost in the system today, and healthcare employees are essentially working in the dark due to outdated technology that creates a lack of shared knowledge and siloed data. Olive is driving connections to shine new light on healthcare processes, improving operations today so everyone can benefit from a healthier industry tomorrow. To learn more about Olive, visit oliveai.com.

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Kallie Kouvelis