Professional services firm Baker Tilly Virchow Krause will use Bedford, Mass.-based Datawatch Corp.'s self-service data preparation platform as part of its revenue cycle innovation service offering.
The Datawatch Monarch platform, which focuses on self-service data preparation and automation, aims to help healthcare providers improve revenue cycle management performance. Baker Tilly will add the platform to its revenue cycle innovation service offering, which it claims "automates processes and applies advanced analytics to empower clients to achieve outcomes that are 10 times greater than standard approaches."
"Although healthcare executives place a strategic focus on revenue cycle programs and invest a lot of money in them, the return on investment is consistently much lower than what we've seen is possible. A lot of this has to do with the access to data and information being an obstacle for management teams," Michael Duke, principal in Baker Tilly's healthcare consulting practice, said in a news release. "Any benefits that have been achieved are often short lived and not sustainable. With the use of the Datawatch suite, especially Monarch, we enable our clients to access revenue cycle process analytics in a way that wouldn't be otherwise achievable."