Health Technology

Omega Healthcare with Tech Solutions Elevates Revenue Cycles

Omega Healthcare
  • Omega Healthcare Launches Omega Digital Platform (ODP): Advanced technology-driven solutions designed to ease administrative burdens and improve financial performance for healthcare organizations.
  • Leveraging artificial intelligence, robotic process automation, machine learning, bots, and natural language processing, ODP enhances efficiency and accuracy in revenue cycle functions.
  • Achievements include over 95 percent accuracy in coding, a 30 percent decrease in accounts receivable days, a 10-20 percent improvement in collections, and a significant reduction in denial rates.

Omega Healthcare has launched its Omega Digital Platform (ODP), featuring advanced technology-driven solutions to alleviate healthcare organizations' administrative burdens and enhance their financial performance. Leveraging its expertise in domains such as artificial intelligence, robotic process automation, machine learning, bots, and natural language processing, Omega Healthcare's innovative solutions are designed to boost efficiency and accuracy within critical revenue cycle functions significantly.

By minimizing the need for extensive human intervention, clients can reallocate resources, elevate employee and patient satisfaction, and drive improved financial outcomes. Omega Healthcare, renowned for its partnership with provider organizations across the United States, empowers them to attain impressive results, including a reduction in coding costs with an accuracy rate exceeding 95 percent, a substantial 30 percent decrease in accounts receivable (A/R) days, a notable 10-20 percent improvement in collections, and a significant drop in denial rates.

The PREDICT workflow engine, an integral part of the ODP, harnesses AI-driven solutions, incorporating advanced proprietary algorithms and comprehensive datasets. PREDICT equips clients to proactively address issues, averting potential challenges through its predictive capabilities, preventive measures, and intelligent task prioritization.

Additionally, implementing an automated digital workforce through Robotic Process Automation (RPA) streamlines client operations, reducing the burden of repetitive tasks while enhancing precision. This optimization improves efficiency and liberates staff and healthcare providers to dedicate their efforts to more strategic responsibilities and direct patient engagement.

The Omega Digital Platform (ODP) offers comprehensive Revenue Cycle Management Solutions that encompass Patient Access, Mid-Revenue Cycle, and Business Office functions, providing clients with the means to mitigate revenue leakage. In today's healthcare landscape, where denials and compliance regulations can pose substantial financial challenges, effective revenue cycle management (RCM) is paramount. With its cutting-edge claims management system and purpose-built technologies, Omega Healthcare equips organizations to optimize their revenue cycles. Whether supplementing existing processes or overseeing the entire revenue cycle, Omega Healthcare's solutions help prevent denials, enhance coding quality and compliance, and bolster cash flow.

This significant development was unveiled at the American Health Information Management Association 2023 Annual Conference. Omega Healthcare is actively participating at AHIMA23 (Booth 311) and is co-presenting its successful utilization of technology in collaboration with physicians at a prominent regional hospital to enhance coding compliance and financial outcomes. This reflects Omega Healthcare's ongoing commitment to advancing healthcare operations and financial success.

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