A Measurable Impact Towards Financial Growth
The launch of VISION heralded a dramatic improvement in financial opportunities for the health system. Revenue opportunities increased from $200-$300 to $500-$600 per chart, reflecting a remarkable 80 percent improvement. Average revenue findings over 12 months were boosted by ten percent despite reviewing 39 percent fewer cases. This highlights the efficiency of VISION in the case review process, distinguishing it from other vendors in the market who may review more cases but with less marginal returns.
CorroHealth SVP of Clinical Documentation Integrity Geoff New said, “Seeing the metrics shift so dramatically before the VISION launch and after— especially a jump in ROI from 3.2 to 5.7 — is incredibly validating. It is clear that the right technology can enhance efficiency and drive significant financial growth.”
This substantial increase underscores the ability of VISION to identify and capitalize on high-yielding opportunities, marking the health system’s transition towards an automated, precision-focused program. It demonstrates how AI can help healthcare providers safeguard their revenue while improving quality reporting outcomes.
Driving Innovation, Compliantly Doubling Revenue
The strategic implementation of VISION by CorroHealth within this major health system showcases the transformative potential impact of incorporating advanced analytics and machine learning into revenue cycle management.
“Our goal with the VISION implementation was to demonstrate the power of advanced, intelligent algorithmic technology as a transformative solution capable of uncovering opportunities that even the most reputable vendors miss,” said CorroHealth President Neal Somaney. “The competitive advantage we’ve delivered to the health system, surpassing their previous vendor, is a clear testament to the sophistication of our technology and the depth of our clinical expertise.”
The collaboration between CorroHealth and the Pacific Northwest Health System through VISION represents a forward-thinking approach to healthcare revenue management, offering a blueprint for other organizations to follow. CorroHealth is setting new standards in the industry, demonstrating that simplifying complex processes through technology is a reality that can lead to profound financial impact for healthcare providers.