Self-service Data Preparation Platform Automates Workflows and Transforms Data into Actionable Insights to Optimize Reimbursement Methodologies
BEDFORD, Mass., Jan. 23, 2018 (GLOBE NEWSWIRE) — Datawatch Corporation (NASDAQ-CM: DWCH) today announced that it is a strategic solutions partner powering the recently launched Revenue Cycle Innovation Center (RCIC) from Baker Tilly Virchow Krause, LLP (Baker Tilly). The RCIC, an end-to-end solution that allows healthcare organizations to maximize and manage revenues, relies on Datawatch Monarch as the standard platform for self-service data preparation and automation.
Datawatch partnered with Baker Tilly last year to build an innovative healthcare financial system that helps providers solve the problems associated with disparate revenue cycle systems and poor operational processes. By combining best-in-class solutions from trusted technology partners, the Baker Tilly RCIC empowers hospitals, healthcare provider organizations and large physician groups with clear visibility into actionable data that will drastically improve the bottom-line and executive decision-making processes.
“Healthcare organizations struggle with reducing costs while maximizing revenue and cash flow operations. The RCIC leverages technology solutions to drive innovation, improve automated processes and apply advanced analytics to increase annual net revenue,” said Michael Duke, principal at Baker Tilly. “Datawatch Monarch is an essential part of our new revenue cycle service as it eliminates manual, time-intensive data manipulation allowing analysts to gain insights faster and make more strategic client recommendations.”
With the Datawatch Monarch self-service data preparation platform, healthcare financial departments and analysts can quickly access, manipulate, enrich and combine disparate information from virtually any source, including 835/837 insurance remittance forms, HL7 messages and data in unusable reports from EHR/EMR systems. Monarch automates repeatable business processes and workflows, thus eliminating human error concerns, allowing analysts to transform data quickly and confidently into actionable insights. By implementing effective operational analytics that streamline revenue cycle operations, Monarch allows healthcare providers to focus on increasing productivity, maintaining regulatory compliance and improving the quality of patient care.
“More than 720 hospitals and healthcare providers have turned to Datawatch Monarch to improve the preparation and analysis of patient and financial data. This rich history makes Monarch a strong choice as the defacto self-service data preparation provider in the Baker Tilly RCIC solution,” said Ken Tacelli, chief operating officer, Datawatch. “We are looking forward to working even closer with Baker Tilly analysts to uncover patterns associated with under-performing revenue cycle programs and transforming the financial performance of healthcare organizations nationwide.”
For more information about how healthcare providers are using Datawatch Monarch for improved revenue cycle management and optimization, please visit: datawatch.imarc.io/in-action/roles/revenue-cycle-management-healthcare-providers.
About Datawatch Corporation
Datawatch Corporation (NASDAQ-CM: DWCH) enables ordinary users to achieve extraordinary results with their data. Only Datawatch can unlock data from the widest variety of sources and prepare it for use in visualization and analytics tools, or for other business processes. When real-time visibility into rapidly changing data is critical, Datawatch also enables users to analyze streaming data, even in the most demanding environments, such as capital markets. Organizations of all sizes in more than 100 countries worldwide use Datawatch products, including 93 of the Fortune 100. The company is headquartered in Bedford, Massachusetts, with offices in New York, London, Frankfurt, Stockholm, Singapore and Manila. To learn more about Datawatch or download a free version of its enterprise software, please visit: datawatch.imarc.io.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Any such statements contained herein, including, but not limited to, those relating to product performance and viability, are based on current expectations, but are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. The factors that could cause actual future results to differ materially from current expectations include the following: rapid technological change; Datawatch’s dependence on the introduction of new products and product enhancements and possible delays in those introductions; acceptance of new products by the market, competition in the software industry generally, and in the markets for next generation analytics in particular; and Datawatch’s dependence on its principal products, proprietary software technology and software licensed from third parties. Further information on factors that could cause actual results to differ from those anticipated is detailed in various publicly available documents, which include, but are not limited to, filings made by Datawatch from time to time with the Securities and Exchange Commission, including, but not limited to, those appearing in the Company’s Annual Report on Form 10-K for the year ended September 30, 2015. Any forward-looking statements should be considered in light of those factors.
Vice President Worldwide Marketing, Datawatch Corporation