PayorIQ

PayorIQ is a software solution offered by CompliancePT that aims to assist healthcare organizations in effectively managing their revenue cycle. According to the vendor, PayorIQ provides timely notifications and actionable information about payor policy changes. The product is suitable for practices of all sizes, including hospitals and revenue cycle companies. It is utilized by medical billing and coding professionals, revenue cycle management companies, and hospitals and healthcare organizations.

Key Features

Get Notified: According to the vendor, PayorIQ provides timely notifications when payors make policy changes. Users receive notifications to stay informed about the latest policy updates, which can help healthcare organizations effectively manage their revenue cycle.

Actionable, Professional Notes: PayorIQ's software is designed to detect policy changes and generate easy-to-digest notes. Instead of reading through lengthy insurance documents, users receive concise and actionable notes that can be implemented by billing and coding staff to ensure compliance with payor policies.

Fight Denials More Intelligently: The vendor claims that PayorIQ allows users to quickly find policy specifics for a given claim date. The data provided by PayorIQ can be used as evidence to support claims and increase the chances of winning cases. By leveraging the data, healthcare organizations can gain a better understanding of payor policies and potentially improve their ability to fight denials.

API Integration: PayorIQ offers API integration, according to the vendor, to seamlessly integrate with existing systems. Users can access policy documents and differential documents on demand. The API provides time and date-stamped policies, allowing users to isolate policy billing codes.

Implement Policy Changes Fast (for Hospitals): PayorIQ enables hospitals to monitor all payor policies in one place, according to the vendor. Users can determine action plans and implement policy changes efficiently. The software provides easy-to-read change notes and crowdsourced policy advice.

Combine Policy Data with EDI Data (for Revenue Cycle Companies): The vendor states that PayorIQ allows revenue cycle companies to combine policy data with EDI data. Users can inform their scrubbers and update rules with policy data. By leveraging policy data, revenue cycle companies can potentially outperform competitors and develop medical necessity rules.