Award applauds Aprima’s ability to positively impact medical practices’ margins through superior collection efficiency
DALLAS – May 2, 2017, Aprima Medical Software, a leading provider of innovative electronic health records (EHR), practice management (PM) and revenue cycle management solutions (RCM) for medical practices, today announced that Frost & Sullivan has recognized the company’s RCM capabilities with the 2017 United States Frost & Sullivan Award for Product Leadership.
“Aprima’s flagship RCM platform combines sophisticated technology and proven billing expertise to help US ambulatory practices completely outsource their RCM departments,” said Frost & Sullivan industry analyst Koustav Chatterjee. “These practices rely on Aprima to optimize cost and collection through better eligibility checking, claims editing, and denial management.”
As noted in Frost & Sullivan’s press release announcing the award: “Aprima’s claims engine has more than 20 million edits and a 98% clean claims rate. Its customers prefer doing business with Aprima due to its deep customer centricity and demonstrable results. On average, physician practices that leverage the Aprima RCM platform improve collection efficiency by 7% to 9% and increase revenue up to 29%.”
“This honor is a result of maintaining consistently high standards and forming deep, successful relationships with our RCM clients. The recognition comes in an incredibly competitive landscape where so many companies compete on price alone. Aprima stands in sharp contrast delivering high value for our high touch services. Our high-touch approach truly creates a positive financial impact for our practices,” said Michael Nissenbaum, president and CEO of Aprima. “We are pleased to have that commitment to our customers’ revenue cycle recognized by Frost & Sullivan.”
Medical practices are experiencing financial pressure from increasing enrollment in high-deductible health plans and poor collection from patients with co-pay arrangements. Frost & Sullivan discloses that Aprima is best positioned to address these critical industry challenges as it equips practices with best-in class technologies and superior customer support. Its account management team helps practices identify coding omissions, assess denials and render regulatory support so that each ambulatory customer can achieve higher reimbursements quicker. On average, Aprima RCM customers are paid significantly faster than other RCM services and industry benchmarks.
“The changing healthcare landscape has placed an extreme burden on practices trying to be reimbursed for the care they deliver,” said Kellye Sherbet, president of RCM Services at Aprima. “We partner closely with our customers to ensure their revenue cycle is optimized to maximize their revenues and receive payment as quickly as possible. It is an honor to receive an award for our RCM services by Frost & Sullivan.”
Each year, Frost & Sullivan presents the Product Leadership award to the company that has developed a product with innovative features and functionality, gaining rapid acceptance in the market. The award recognizes the quality of the solution and the customer value enhancements it enables.
Frost & Sullivan Best Practices awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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