Sift Healthcare

For health systems, downstream revenue leakage seriously threatens financial stability. Denials are a major culprit, creating costly rework, delayed cash flow and strain on revenue cycle teams. The Solventum Revenue Integrity System brings #AI into the process to help health systems to prevent clinical denials, reduce rework and optimize workflows — empowering teams with the tools and insights to identify issues before they become denials. https://lnkd.in/gmtbiiPA #RevenueCycle #DenialsManagement #HealthTech Artice by Solventum's Josh Amrhein

This September 2024 American Hospital Association report sheds light on the *still-growing* administrative costs and insurer policies that are straining hospitals, driving up care denials and delaying patient care. This is a troubling trend, with denials increasing by over 55% for Medicare Advantage claims and hospitals spending billions on billing and collections annually. These pressures point to the need for health systems to leverage advanced technology, like #AI, to optimize the revenue cycle, reduce administrative burden, and prevent denials before they happen. At Sift, we see firsthand how technology that reduces human touches and minimizes errors enables health systems to reclaim valuable resources, improve top-line revenue and, ultimately, focus more on patient care. While policy changes and insurer practices are beyond the control of healthcare providers, technology can play a crucial role in creating efficiencies and improving margins, even in this challenging landscape. https://lnkd.in/g2ek2mTj #Healthcare #RevenueCycle #HealthTech

We are incredibly excited to announce that Eric Kijak has joined Sift as our new Vice President of Finance and Operations. Eric brings over 15 years of extensive experience in finance and business building. Before joining Sift, Eric played a pivotal role at Moxe Health, where he led corporate development activities, working closely with partners, customers, and investors. Eric also brings a wealth of experience from his time at 3M Ventures, where he led investments into early-stage healthcare startups. Eric’s deep health tech experience and hands-on leadership will be key at Sift as we continue to grow, scale our operations, and expand our partnerships. Please join us in welcoming Eric to the team!

#Medicare advantage plans submitted 46M prior authorization requests in 2023 (+23% YoY). Insurers partially or fully denied 3.4M of these prior authorizations (7.4% of the total). **Only 9.9% of these denials were appealed, but 83.2% of appeals were approved** Leveraging #machinelearning driven propensity-to-deny and propensity-to-overturn intelligence not only prevents denials, but equips staff to focus on the denials most likely to be overturned (paid). https://lnkd.in/gBQTe7_X #AI #revenuecycle

Leveraging #MachineLearning to minimize front-end clinical denials -- a key driver of avoidable write-off dollars for health systems of all sizes. https://bit.ly/4eYp19w #revenuecyclemanagement #hfma

An insightful interview from Solventum with Jason Burke, VP of Revenue Cycle Solutions, discussing the challenges faced by revenue cycle leaders and how automation, #AI, and predictive analytics are revolutionizing the industry. Of specific note is how Solventum's Revenue Integrity System transforms denials management by predicting denials and alerting clinical documentation integrity (CDI) specialists, coders and clinicians to take action to handle potential issues before the claim is submitted. 👉 Read the full post here: https://lnkd.in/gQbvdJZW #hfma #RevenueCycleManagement Healthcare Financial Management Association (HFMA)

We're thrilled to announce that Sift is collaborating with Solventum to launch the AI-driven Solventum Revenue Integrity System. This industry-first solution is designed to help health systems predict and prevent clinical denials, ensuring more timely and accurate payer reimbursement. We’re incredibly excited about our work with Solventum and our teams' innovation, and we are proud of the impact this solution will have on healthcare providers. #RevenueCycleManagement #HFMA #healthtech Read the full announcement:

🎉 🎉  Sift is excited to announce the successful close of our $20M Series B funding round! This is a significant milestone for Sift and underscores the growing confidence and impact of AI-powered solutions in healthcare revenue cycle management. Our Series B was led by B Capital with the support of our Series A investors, Allos Ventures, First Trust Capital Partners, and Rock River Capital Partners, LLC. This investment will fuel Sift’s efforts to scale and advance our industry-first Payments Intelligence Platform, which empowers healthcare organizations to work smarter, protect their margins, and accelerate cash. We are incredibly grateful to our dedicated Sift team, investors, and partners for their hard work and continued support on this journey. #HealthTech #AI #revenuecycle 

DENIALS. The overwhelming consensus for revenue cycle's top challenge https://lnkd.in/gFaqkrTv