The Impact of Versalus Health on Healthcare Management
As the healthcare industry continues to evolve with technologies and innovations, healthcare management has become an even more crucial aspect of the sector. With managing inefficiencies and cost reductions becoming increasingly vital, healthcare management needs to adapt to the changing times. This has resulted in a rise in healthcare management solutions providers, one of which is Versalus Health, a company revolutionizing healthcare management. This article will explore the impact of Versalus Health on healthcare management in-depth.
The Origin of Versalus Health
Versalus Health is a Philadelphia-based healthcare management solution provider founded in 2016. The company was born out of the need to prevent financial leakage in healthcare settings, such as hospitals and health systems, resulting from improper coding or documentation of patient care. The founders of Versalus Health, including CEO Dr. Ben Zaniello, identified this problem and saw an opportunity to provide a solution. Versalus Health has since become a leader in healthcare management and aims to solve the financial inefficiencies of healthcare systems across the United States.
What Does Versalus Health Offer
Versalus Health offers a suite of innovative solutions, including foundational offerings like coding and clinical documentation improvement. The company’s proprietary technology can identify coding and documentation gaps, reducing the potential financial risks for healthcare systems and providers. Additionally, Versalus Health provides solutions tailored to specific clinical and operational needs of healthcare systems, such as Utilization Management by Peer Review.
The Impact of Versalus Health
Versalus Health has rapidly gained recognition as a leader in healthcare management solutions. The company’s technology-driven approach has resulted in improvements in healthcare delivery and financial efficiency, ultimately leading to better patient outcomes. Versalus Health’s solutions have been found to recover millions of dollars for healthcare systems, resulting in a positive impact on financial bottom lines, and providing the necessary resources to reinvest in patient care.
Case Studies
Several healthcare systems have partnered with Versalus Health and have realized significant improvements in financial performance. One example is the collaborative work between Versalus Health and Wake Forest Baptist Health. This partnership resulted in documentation improvements that eventually led to Wake Forest Baptist Health recovering $5 million in reimbursement revenue.
Similarly, Versalus Health partnered with Hershey Medical Center, an affiliate of Penn State University. The partnership’s Utilization Management by Peer Review offering resulted in a 70% reduction in inpatient denials for the Medical Center.
Conclusion
In conclusion, Versalus Health’s healthcare management solutions are revolutionizing the industry, providing healthcare systems with the necessary tools to improve financial performance, ultimately leading to better patient care delivery. The company’s proprietary technology-driven approach has resulted in improvements in revenue cycle and documentation enhancement, and its services have proven effective in several healthcare systems. With the continuous rise in healthcare expenses, Versalus Health’s solutions are significant in driving cost savings and better outcomes.
