Louisville, Ky.-based ZirMed, which offers end-to-end, cloud-based financial and clinical performance management solutions, was honored Thursday with the Frost & Sullivan 2016 North American Technology Innovation Award for the healthcare revenue cycle management market, company officials said.
The award ZirMed received is part of Frost & Sullivan's Best Practices Awards program. Each year, Frost & Sullivan presents this award to the company that demonstrates "uniqueness in developing and leveraging new technologies that significantly impact both the functionality and the customer value of the new products and applications," according to a news release.
ZirMed's comprehensive end-to-end platform encompasses patient access, charge integrity, claims management, accounts receivable management, patient responsibility and population health management.
"The healthcare revenue cycle workflow is complex, especially for hospitals and other large healthcare organizations," Nancy Fabozzi, principal analyst for transformational health at Frost & Sullivan, said in a statement. "Gaps in workflow and lack of data integrity can result in lost revenue and significantly elevated days in accounts receivable. ZirMed's end-to-end revenue cycle management platform spans the entire RCM spectrum, from claims and AR management to patient responsibility to financial predictive analytics and solutions for value-based care."