October 2023 — Sherri Lewis, director of revenue cycle management at BoulderCentre for Orthopedics & Spine uses Rivet to accelerate Boulder's precollections.
"Financially, implementing [Rivet] was and continues to be a big win for BoulderCentre," Sherri Lewis stated. "Since we started leveraging it in September 2022, we’ve conducted 4,759 estimates and we’re up to $898,000 in pre-collections. It is a huge cost-effective tool in our practice that has paid for itself again and again.
"Patient AR on the backend has improved significantly, as well," she continued. "We are collecting more and collecting it faster."
From a workforce perspective, the revenue platform has increased efficiencies so that it is no longer a full-time position to just collect and run estimates.
"While we previously had multiple people working on pre-collections, the person we have on staff now has additional bandwidth to do not only all the pre-collections and estimates but also prior authorizations and work for the MRI department," Lewis said. "These workforce efficiencies are invaluable when dealing with the staffing shortages currently impacting the healthcare industry."
To learn how Rivet is empowering healthcare provider organizations with industry-leading revenue acceleration tools, visit www.rivethealth.com.
Rivet, healthcare’s leading revenue acceleration platform, protects provider revenues while delivering industry-renowned transparency on everything from payer contracts, overturning denials, forecasted net revenue, and patient costs. Rivet empowers healthcare’s administrative staff with sophisticated tools to manage, benchmark, and negotiate payer contracts, as well as auto-detect payment variances, handle delinquent claims, and quickly recover revenue after wrongful denials. As a partner-agnostic platform, Rivet seamlessly interacts with all EHRs to deliver HIPPA-compliant, secure good faith estimates to patients and facilitate upfront payments. Based in Salt Lake City, Utah, Rivet believes clinicians deserve more from their revenue cycle tools and is offering a platform that levels the “paying field” between providers, patients, and payers for an elevated financial experience. For more information, please visit rivethealth.com