NASHVILLE, TENN., February 7, 2024 — Experian Health, a leading provider of revenue cycle management (RCM) solutions that simplify healthcare, has earned the top KLAS ranking for the second consecutive year in the Claims Management and Clearinghouse and Revenue Cycle: Contract Management categories for its ClaimSource® and Contract Manager products. The rankings were released today in its annual 2024 Best in KLAS Awards - Software and Services.
Healthcare providers are increasingly turning to technology to alleviate their ongoing challenges with claim denials and staffing shortages by automating administrative processes to increase efficiency and improve RCM and patient engagement. In fact, Experian Health’s 2023 Staffing Shortage Survey found a majority of respondents (69%) see staffing challenges as a long-term problem and a striking 100 percent said those staffing shortages have affected RCM and patient engagement efforts.
“This recognition from KLAS reflects our dedication to deliver innovative solutions that not only improve the financial health of providers but also the patient experience,” said Tom Cox, president of Experian Health. “Receiving this award two years in a row is an honor as we remain steadfast in our commitment to simplifying healthcare through technology.”
Experian Health's ClaimSource is an automated and scalable claims management system that reduces denials and increases revenue in a single application. It added two new Artificial Intelligence modules this past year (AI Advantage Predictive Denials and AI Advantage Denial Triage) that help drive Experian Health’s customers to an average denial rate of only four percent versus a 10+ percent industry average.
Experian Health’s Contract Manager allows providers to level the playing field with payers by verifying contractually allowed amounts for all applicable claims, monitors payer compliance with contract terms, and models the financial implications of proposed contracts.
KLAS’s “Best in KLAS” recognizes top-performing healthcare IT vendors where at least two goods meet the minimal KLAS Konfidence criteria. This achievement underscores Experian Health’s commitment to customer satisfaction and its ability to deliver measurable results. To see the 2024 report, go to: https://klasresearch.com/report/2024-best-in-klas-awards-software-and-services/3413.
To learn more about Experian Health Revenue Cycle solutions, visit https://www.experian.com/healthcare/solutions/revenue-cycle-management-solution.
About Experian Health
At Experian Health, we serve more than 60 percent of U.S. hospitals and more than 7,500 medical practices, labs, pharmacies and other healthcare providers with data-driven platforms and insights that help our clients make smarter business decisions, deliver a better bottom line and establish strong patient relationships.
Part of Experian, the world’s leading information services company, our Experian Health business is known for its patient access heritage, advanced data insights and patent-pending Touchless Workflow™ which help providers, labs, pharmacies and other risk-bearing entities power opportunities in today’s consumer-driven healthcare environment.
Experian has 21,700 people operating across 30 countries, and every day we’re investing in new technologies, talented people and innovation to help all our clients maximize every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.
For more information about Experian Health, visit http://www.experianhealth.com. Learn more about Experian at www.experianplc.com or visit our global content hub at our global news blog for the latest news and insights from the Group.
KLAS is a research and insights firm on a global mission to improve healthcare. Working with thousands of healthcare professionals and clinicians, KLAS gathers data and insights on software and services to deliver timely reports and performance data that represent provider and payer voices and act as catalysts for improving vendor performance. The KLAS research team publishes reports covering the most pressing questions facing healthcare technology today, including emerging technology insights, that provide early insights on the future of healthcare technology solutions. KLAS also fosters measurement and collaboration between healthcare providers and payers and best practice adoption. Learn more at klasresearch.com.