Olive and Healthcare IP
Becoming a clearinghouse is a crucial step in creating the Internet of Healthcare and further bridging the gap between providers and payers. That’s why Olive is excited to announce the acquisition of Healthcare IP, a clearinghouse that has been streamlining payment management since 2013. The company has partnered with top hospitals and health systems across the United States to better manage their insurance processing.
“For years, we’ve focused on delivering the best experience for our customers and their claims management processing, a healthcare function ridden with errors, wasted time and frustration. We are beyond thrilled to be joining forces with Olive to broaden our horizons in a shared mission to revolutionize healthcare.” - Brent Grimes, President of Healthcare IP
It’s time to transform the traditional clearinghouse.
With an estimated one in seven insurance claims denied in the U.S., continual rework on claims is a high cost for health systems. Claim denials are dramatically impacting revenue performance for health systems and accessibility to patient care.
- 33% of hospital executives reported average claims denial rates of 10% or more1
- Hospital claim denials increased by 23% in 2020 alone1
- One in seven insurance claims are rejected, racking up costly transaction fees. 2
Your partner for seamless claims and remittance management.
Olive is redefining the clearinghouse, ensuring success without costly transaction fees. She leverages automation to minimize touchpoints, clean claims, standardize submissions and returns remittance to accelerate the pace of healthcare transformation.
- 98% payer acceptance rate
- 3.4% claim denial rate (compared to industry average of 6-13%)1
- 99.2% electronic data rate
We couldn’t be happier.
Director of Revenue Cycle, Cedars-Sinai
The ongoing value we receive is tremendous.
Director of Revenue Cycle, Ohio State
Olive acquires Healthcare IP
“Clearinghouses are foundational to the proper networking of the entire industry, but they haven’t been innovated in years. At Olive, we won’t get paid unless the providers get paid. We’re putting customers first. Providers deserve low-cost, high-value claims functionality and we’re excited for Olive to be that partner.””
– Sean Lane, CEO of Olive