Announcing the AVIA Marketplace Top Companies of 2023
AVIA Marketplace is where innovative health systems and hospitals go to find the right digital health solutions. It’s built to efficiently search vendors and guide informed decisions, with tools like product comparisons, match scores, report generators, peer reviews, and market insights.
Following the release of our newest categories, we are excited to take the next step in helping organizations select the right technology by launching our Top Companies of 2023 series. Below, you will find reports for each of the new categories, including Patient Billing & Payment, Patient Education, Prior Authorization, Virtual Visits.
We’re excited to help you research and select technology solutions faster, easier, and more reliably than ever.
Meet Consumer Demand for Accessibility & Convenience
Consumer demand for accessibility and convenience is greater than ever, but wait times for in-person primary care visits have increased, averaging at least seven days at minimum and more than a month in some markets. Virtual visits address these challenges, while also catering to the many patients who prefer them over in-person care.
With careful preparation and a methodical approach to vendor assessment and selection, health systems can increase patient satisfaction, deliver enhanced convenience, enable greater access, improve operational efficiency, and expand catchment areas through virtual visit capabilities.
Protect Your Health System Margins
On average, providers only collect about 40 percent of outstanding patient balances. As the proportion of revenue attributable to patients continues to grow, effective management of patient receivables is essential to protect health system margins.
Health systems that successfully implement digital patient billing and payment solutions can drive liquidation of patient balances and help create and support positive margins for health systems. AVIA Marketplace estimates that each percentage point of lift in digital payments translates into approximately $2 million in net collections.
Build Patient Trust & Improve Care Plan Adherence
Robust patient education offerings provide benefits such as better care plan adherence, improved outcomes, and higher patient satisfaction scores. The leading digital solutions automate the process, delivering condition-specific health education to patients at the right time and place in their care journey.
Prevent Lost Revenue & Reduce Expenses
The current prior authorization process is extremely burdensome and time-consuming–the average physician must complete 41 prior authorizations per week, which translates into about 14 labor hours just for completing prior authorizations, according to a 2020 American Medical Association survey. It’s also one of the most costly administrative transactions, with an average expenditure of about $11 for each request. But the prior authorization landscape is changing, and the lost time and sunk costs are decreasing as intelligent automation becomes commonplace.
While a manual prior authorization takes an average of 21 minutes, a digital transaction can be completed in about four minutes, with fewer denials and faster turnaround time.
AVIA Marketplace is where innovative health systems and hospitals go to find the right digital health solutions. It’s built to efficiently search vendors and guide informed decisions, with tools like product comparisons, match scores, report generators, peer reviews, and market insights.
