February 26, 2024
RevSpring Reveals Engage IQ™ Innovations Focused on Outcome Optimization at ViVE 2024
New optimization scores within RevSpring’s Engage IQ platform expand data insights to drive informed decision making for better solution performance
NASHVILLE and LOS ANGELES (February 26, 2024)—RevSpring, the leading provider of healthcare engagement and payment solutions, announced today at ViVE 2024 new optimization scores for Engage IQ™. The Quality of Visit™ and Quality of Payment™ Scores proactively support intelligent engagement and payment performance to further enhance patient satisfaction, data accuracy, and extract actionable insights.
Designed to engineer better outcomes across the Engage IQ platform, the new analytics scores distill vast amounts of customer data and use alerts and indicators to actively monitor performance status. The consistent and coordinated patient engagement journey engineered by Engage IQ is now supported by these additional optimization scores to extract actionable insights, understand patient preferences, assess market trends, fine tune solution performance, and mitigate risk.
The Quality of Visit score elevates the patient intake experience by measuring key data points during patient registration and check-in. Together with patient satisfaction surveys to directly measure patient experience, the quality of visit optimization score quantifies such metrics as:
- Percentage of patients who self-serve
- Accuracy of captured information during the intake process
- Preservice payment rates
The Quality of Payment score measures patient engagement metrics within the payment portal. Designed to quantify progress and provide insights for efficiency and productivity, the Quality of Payment score tracks:
- Portal access/authentication success rate
- Successful completion of payment action
- Satisfaction rate of billing experience
“In the rapidly evolving healthcare landscape, using data to understand what is and isn’t performing is no longer simply a convenience—it’s imperative,” said RevSpring CEO Scott MacKenzie. “By transforming raw data into valuable knowledge, RevSpring empowers customers to drive strategic initiatives such as making intake easier and increasing payments. Built into Engage IQ, these data-driven insights improve the patient experience and pave the way for a healthier, more efficient future.”
RevSpring optimization scores identify individual healthcare organizational performance across key metrics. Using alerts and indicators that monitor solution performance against best high performing benchmarks, and customer-level situational measures, RevSpring proactively supports customers with indications of what is going well, what needs attention and what can be further optimized. Optimization scoring is available prior to go-live to ensure a smooth and stable implementation. Once customers are live, the optimization metrics continue to monitor critical performance areas.
Intelligence is embedded not just in the calculation of the optimization metric itself, but statistical inferences are also used to validate how the metrics compare to similar customers, creating an intelligent and custom “yardstick” through which the scores are calculated.
Customers can also track their own metrics through the RevSpring Insight™ Dashboards including a new preservice dashboard that gives customer access to patient intake trends and patterns prior to a new patient encounter.
“Using the Engage IQ methodology, RevSpring has identified and executed digital engagement strategies that present tens of millions of dollars of opportunity for healthcare organizations to increase yield and eliminate cost,” added MacKenzie. “These new quality scores are a data-driven way to rate results and optimize that opportunity.
RevSpring provides continual iteration and improvement of score modeling based on the latest data to offer visibility into progress, informed decision making and timely course corrections.
RevSpring will be showcasing the Engage IQ™ patient experience platform at ViVE 2024, Viosk v-1035.
About RevSpring
RevSpring leads the market in engagement and payment solutions that inspire patients to participate in and pay for their healthcare. The company has built the industry’s most comprehensive and impactful patient engagement suite, spanning the clinical, administrative and financial experience. RevSpring’s OmniChannel communications and payment solutions are backed by behavior analysis, propensity-to-pay scoring, contextual messaging, and user experience best practices. Using proprietary data analytics to tailor the engagement from preservice to post-service to payment, RevSpring improves the patient experience and outcomes for providers, members and patients. To learn more, visit revspringinc.com/healthcare. Follow us on LinkedIn and X (formerly Twitter).
Contacts:
Kristen Jacobsen
763.923.5280
kjacobsen@revspringinc.com
Kellie Kennedy
The Harbinger Group
312.933.4903
kelliek@theharbingergroup.com
