Feedback gathered by KLAS Research exhibits 100% of customers are "highly satisfied" thanks to immediate positive outcomes –– including improved revenue, Case Mix Index, and risk adjustment.
NEW YORK, Oct. 19, 2023 /PRNewswire/ -- SmarterDx, a pioneering clinical AI software company, today announced the release of a new "Emerging Solutions Spotlight" by KLAS Research, which highlights the company's development and use of clinical AI to help healthcare organizations drive revenue integrity and efficiency. The report, titled "SmarterDx 2023 –– Driving Revenue Cycle Outcomes through Proprietary Clinical AI," examines the SmarterDx customer experience and offers insights into the company's strengths, opportunities and impact on key performance metrics.
Hospitals spend over $350 billion annually on administrative tasks related to revenue cycle. Much of this cost arises from the manual reconciliation of clinical data with billing information, also known as Clinical Documentation Improvement (CDI) and Medical Coding, to improve the accuracy of claims. Small errors or omissions in this process lead to missed, rejected or underpaid claims, resulting in either lost revenue or drawn-out corrections before hospitals receive fair compensation for services rendered.
The SmarterDx clinical AI solution remedies this through second level reviews of every patient chart after final coding but before billing, helping hospitals safeguard millions in revenue leakage and ensuring that care quality is accurately represented.
SmarterDx customers interviewed by KLAS report that the solution instantly drives attributable revenue lift, improved Case Mix Index (CMI), and better risk adjustment. Respondents also appreciated the company's attentiveness and commitment to evolving the product based on user feedback. They see SmarterDx not just as a service provider but a partner with the technological and clinical knowledge to ensure a highly satisfactory customer experience.
Of client respondents, 100% reported they were "highly satisfied" with their overall experience with SmarterDx. When queried about the time required to see outcomes using the SmarterDx platform, 100% responded "immediately." These outcomes included:
- Elevated CMI
- Comprehensive chart audits for CDI opportunities
- Capture of all diagnoses before billing, preventing re-billing
- Improved quality outcomes, including risk adjustment
- Improved revenue and financial gains
SmarterDx was founded by physicians, a differentiator that customers cited as an advantage. In addition, SmarterDx customers reported that the organization's inherent expertise ensures an intuitive user interface, smooth implementation and a quality product.
Michael Gao, MD, CEO at SmarterDx, emphasized, "The current revenue leakage is unsustainable. With our clinical AI, we aim to revolutionize revenue cycle integrity, bolstering accuracy, efficiency and, ultimately, fiscal health. The feedback in the KLAS report is a testament to our capability to enhance these processes, ensuring positive and rapid results."
The full report is available from KLAS Research, and includes additional insights as well as considerations for healthcare organizations considering the adoption of AI-driven revenue cycle solutions.
About SmarterDx
SmarterDx improves hospital revenue and quality by serving as a prebill "safety net," catching all remaining documentation and coding opportunities. SmarterDx's proprietary clinical AI simulates the clinical thought process, meticulously analyzing chart data (30,000 data points in seconds), including labs, medications, orders, vitals, radiology, notes, and more, to pinpoint both revenue and quality-impacting diagnoses without impacting DNFB. SmarterDx complements existing CDI and coding teams by serving as an ever-vigilant checkpoint that scans every chart after coding, but before billing, ensuring no opportunities are lost. SmarterDx clients are realizing about $2 million per 10,000 discharges, with a guaranteed ROI of 5:1. To learn more, visit smarterdx.com.
Media Contact
Amendola for SmarterDx
Kim Mohr
949-322-3733
kmohr@acmarketingpr.com
