Purpose-Built Predictive Analytics
There is no way to know everything about a patient who comes through the door or a claim that shows up in the business office. But knowing more and getting that information in front of people, in the right way, can have transformative value.
Connance Predictive Analytics:
- Focus on the right opportunity and collaborate more effectively.
- Know which patients want to pay their bills but need help and who likely have coverage but don’t know it.
- Avoid statusing work on claims that will resolve on their own.
- Don’t invest denial teams on opportunities with predictably low value.
- Before discharge, understand which patients have daily challenges outside the exam room that represent readmission risks.
Work Smarter, Not Harder.
The Connance advantage is infusing great predictive insight seamlessly into workﬂow.
Improve Patient Financial Interactions
- Up to 40% increase in total payments
- 20–25% of balances paid in full at time of service
- Avoid the 40% of payment plans that default
Analytically Optimize Patient Payment Process
- 20% lower collection cost
- 25–35% increase in total payments collected
- 30% reclassification of bad debt to presumptive charity
- 35–45% reduction in patient phone calls
Enhance Vendor Performance
- 10–20% increase in net recoveries
- 5–15% reduction in vendor fees
- Improved reporting, process control and inventory reconciliation
Identify Missing Charges
- Up to 1.5% net revenue discovery
Reduce Effort Managing Denials
- 25% increase in productivity
- 40% reduction in unproductive touches
> Demo This!
Predictive analytics in healthcare is a hot topic. But looking beyond the hype, few of the stories stand up after reference calls and detailed review. Then there is Connance.
After 10 years, 50 million patient encounters annually, ongoing engagement with more than 500 leading hospitals and health systems, we’re confident about the impact our predictive analytic solutions deliver. The key is the combination of models built to address critical process decision points and properly integrating those analytics into workflow. The combination delivers trackable, predictable, and sizable results.
Connance helps hospitals interact with their patients in the right way, at the right time, for superior clinical and ﬁnancial engagement.
THE CONNANCE ADVANTAGE
Our impact is outsized relative to our cost because we leverage the investment you’ve already made. New-patient accounting systems are stabilized, not optimized. Workflow systems are built for inventory integrity, not collection ROI.
Connance optimization solutions turn those million-dollar platforms into high-performing systems.
Part of every deployment is an audit of existing resources, technologies and business needs. Those frame the application of predictive insight and workflow. It also sets up the road map for where we start and how we’ll continue to develop success.