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What is Vetriq?

Vetriq represents a cutting-edge solution designed to automate the revenue cycle processes within healthcare, particularly focusing on alleviating the burdensome manual tasks linked to payment posting, remittance processing, and financial reconciliation for healthcare providers. By optimizing the handling of Explanation of Benefits (EOB) documents, payer interactions, and bank lockbox transactions, it transforms incoming payment information into well-organized electronic records that can be easily incorporated into revenue cycle management systems. Instead of requiring a complete revamp of a healthcare facility's banking, lockbox services, or existing revenue cycle management infrastructure, Vetriq integrates effortlessly with current banking partners and practice management or EHR systems to enhance pre-existing workflows through automation. Its robust processing engine excels at converting paper EOBs into standardized electronic remittance formats such as 835, which significantly reduces the need for manual data entry and lightens the administrative burden. Ultimately, Vetriq not only boosts the efficiency and accuracy of financial operations for medical organizations but also allows them to preserve their established systems and collaborative relationships. This innovative approach helps healthcare providers focus more on patient care rather than being bogged down by administrative tasks.

What is AKASA?

We are excited to unveil the first-ever unified automationâ„¢ solution specifically crafted for the management of healthcare revenue cycles. Building trust within the healthcare industry begins with improved practices in revenue cycle management. Now is the pivotal moment for a thorough transformation in RCM. We firmly believe that every dollar spent in healthcare matters, which motivated the establishment of AKASA (formerly known as Alpha Health); our aim is to leverage cutting-edge technology to address the challenges in revenue cycle management. If these challenges are not resolved, they will lead to increased costs for all stakeholders involved. The prevailing approaches to RCM make it exceedingly difficult to reduce administrative costs in healthcare or to boost operational efficiency, and the current solutions often add layers of complexity and escalate expenses. The complexities of medical reimbursement in the United States lead to hidden costs that impact everyone, both economically and by eroding public confidence in the healthcare system's ability to serve their needs effectively. In fact, in 2019, the estimated costs associated with medical billing and insurance administration in the U.S. reached approximately $500 billion. This alarming statistic underscores the pressing need for significant reforms in our revenue cycle management practices, as we strive not only for efficiency but also for a system that prioritizes patient trust and care. By addressing these issues head-on, we can create a more sustainable and efficient healthcare environment for all.

Media

Media

Integrations Supported

Availity
Change Healthcare
NextGen
TriZetto
Waystar
XIFIN LIS
athenaOne
eClinicalWorks

Integrations Supported

API Availability

API Availability

Pricing Information

$22 per hour

Pricing Information

Pricing not provided

Supported Platforms

SaaS

Supported Platforms

SaaS

Customer Service / Support

Standard Support
Web-Based Support

Customer Service / Support

Not specified

Training Options

Documentation Hub
Online Training

Training Options

Not specified

Company Facts

Organization Name

Vetriq

Company Location

United States

Company Website

vetriq.com

Company Facts

Organization Name

AKASA

Company Location

United States

Company Website

akasa.com

Categories and Features

Categories and Features

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