New Charge Capture Advisor uses AI to help optimize revenue and accelerate cash by flagging missing charges to enable a more complete claim
CHICAGO--(BUSINESS WIRE)--#AI--AHIMA booth 904—Change Healthcare (Nasdaq: CHNG) today introduced Charge Capture Advisor, a new cloud-based addition to the company’s portfolio of Revenue Integrity Solutions. The solution uses Change Healthcare Artificial Intelligence to identify potentially missing charges for services that providers actually performed before claims are submitted. The result: more complete capture of services rendered without additional time and effort by hospital revenue integrity teams. Working alongside providers’ existing health information system (HIS), coding, billing, and manual processes as part of a comprehensive charge-capture strategy, Charge Capture Advisor brings the power of AI to help increase detection of missing charges to drive complete claims, accelerate cash flow, and optimize revenue.
“Providers are still falling short of their charge-capture potential, despite using the most sophisticated rules-based systems and meticulous manual audits,” said Nick Giannasi, Ph.D., executive vice president and chief AI officer, Change Healthcare. “In fact, it’s estimated that missing charges and associated reimbursement, combined with audit and recovery efforts, cost providers the equivalent of 1% of annual revenue¹. Charge Capture Advisor can help providers identify those missed charges and help improve revenue capture.”
Change Healthcare’s AI for charge capture is trained on more than 500 million service lines and 180 million unique, de-identified claims that touch $245 billion in charges. This industry-leading volume of data allows the AI model to provide more accurate charge capture predictions. Moreover, Charge Capture Advisor requires no integration with existing software, freeing the IT department to focus on its core responsibilities. Missing charge predictions are accessed in real time in the claim workflow, helping ensure claim completeness at each level.
Charge Capture Advisor is easy to use. Users can accept the AI’s predicted charges if appropriate documentation is available, dismiss a predicted charge, or place a predicted charge on hold until research and review of relevant documentation can be completed. Managers can access real-time insights into charge capture trends—including the number of missing charges and estimated charge value—so they can continually review, analyze, drive root-cause analysis, and make improvements to charge rules.
Change Healthcare’s Intelligent Healthcare Network™ includes more than 2,200 payers, 5,500 hospitals/health systems, and 900,000 physicians; and the associated claims data powers AI-infused solutions that transform the accuracy and efficiency of revenue cycle processes. Charge Capture Advisor is part of Change Healthcare’s Revenue Integrity solutions, which also include Physician and Hospital Coding Services, Coding Quality and Audit Services, Charge Capture Compliance Audit Services, and Clinical Documentation Improvement Services.
Change Healthcare Charge Capture Advisor is available now. Providers interested in more information can visit the Charge Capture Advisor resource page, or visit us at AHIMA in Chicago September 15-17 in Booth # 904.
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About Change Healthcare
Change Healthcare (Nasdaq: CHNG) is a leading independent healthcare technology company that provides data and analytics-driven solutions to improve clinical, financial and patient engagement outcomes in the U.S. healthcare system. We are a key catalyst of a value-based healthcare system, accelerating the journey toward improved lives and healthier communities. Learn more at changehealthcare.com.
¹ Smith, Cathy. Capturing All Charges: The Operational Reality. HFMA blog, Jan. 21, 2016.