Revenue Advantage, Inc. is dedicated to providing the healthcare industry with the most effective, efficient and reliable interactive patient messaging tools available. With a focus on the areas of revenue cycle management, clinical and regulatory compliance, and survey and outcome measurement, our solutions delivery an immediate and meaningful return on your investment.
Revenue Advantage was founded in 2002 at a time when health plan reimbursement rates were stagnating, patient co-payments and deductibles were growing, and the number of patients who were uninsured or underinsured was on the rise. Healthcare bad debt was already a $130 billion challenge for U.S. healthcare providers, even before a significant economic downturn.
In the last decade, fewer patients are receiving health benefits, and those who do are required to pay significantly higher individual and family deductibles, driving up the consumer's portion of the healthcare cost. This problem continues to grow as declining reimbursement rates persist and the cost of healthcare delivery continues to climb.
Revenue Advantage has worked exclusively with the healthcare industry to tackle these challenges through the development and implementation of new and innovative products and tools designed to aid healthcare providers in collecting AR in an efficient, customer-focused and cost-effective manner. Decreasing AR, and improving cash on hand, supports improvement and expansion of healthcare services throughout our communities with an infusion of much needed working capital.
Today, Revenue Advantage delivers interactive voice solutions to over 5,500 hospitals and group physician practices as well as clinical labs, diagnostic imaging centers, durable medical equipment providers, and home health and medical billing companies. Revenue Advantage solutions efficiently service over $2 billion in patient AR per month.
Looking to the future, we are focusing our attention on interactive communications to support healthcare reform. Even as we continue to provide tools designed to improve the financial outcomes of our customers, Revenue Advantage is working on new, broader solutions that are required to not only improve patient care outcomes, but also meet the changing regulatory requirements for interactive patient communications.
These communications, including patient and outcome surveys and clinical alerts, are defined by HITECH's Stage 2 Meaningful Use requirements. In these requirements, core objective 12 specifically requires that Eligible Professionals (EPs) "Use clinically relevant information to identify patients who should receive reminders for preventative/follow-up care and send these patients the reminders, per patient preference."
Not only do providers have to identify patients for follow-up diagnostic tests and treatment, they must communicate with them in ways that are both effective and meet the needs of the patient. Revenue Advantage solutions offer a variety of communication channels to include interactive voice messaging, text messaging as well as web-based access.
Our proven track record of rapid solution deployment of healthcare-centric products, supported by staff knowledgeable in the healthcare field, sets us apart. Our solutions utilize proprietary messaging software, redundant hardware and data centers, and integrate with healthcare information systems and payment processors. Experience your Revenue Advantage.
Revenue Advantage offers full service set-up assistance and support by staff with extensive backgrounds in healthcare, so we understand the specific challenges you face and how to overcome them.
Our products are sold exclusively to providers and healthcare related companies, so all our product development and enhancements are dedicated to healthcare solutions. We understand your business, and continually work to stay on top of regulatory changes to ensure compliance.
All our scripts are customized and produced in a state-of-the-art digital recording studio utilizing professional voice talent to ensure the highest quality sound is delivered to your patients.
Our products have no hardware or software to purchase or setup, supporting rapid solution deployment. Our typical setup times range from two days to two weeks, so you are up and running quickly and experiencing ROI almost immediately.
Revenue Advantage has geographically dispersed national call centers for redundancy and performance. We have multiple Tier 1 Internet service providers and carriers at each call center, so our solutions are reliable and consistent. You can depend on your messages being delivered to your patients and customers accurately and on-time.
Selected interface transactions can be accomplished with existing medical AR/EHR systems, and our tools support automatic and secure 835 payment file delivery (batch or real-time).
Our tools have real-time integration with over 20 healthcare payment processors and we are a PCI-DSS compliant Level One service provider.
"Obvious benefits of Revenue Advantage include the ability to collect revenue more quickly and cost effectively."
-VP of Patient Financial Services, Multi-Hospital System
NE United States