Myriad Systems Bolsters AI Capabilities to Help Private Practices Enhance Revenue Cycle Management and Regulatory Compliance
Myriad Systems, a provider of comprehensive practice management software and services for private practices, announces extensive artificial intelligence (AI) enhancements to significantly minimize the time and effort required to reduce accounts receivable and comply with healthcare regulations. The new capabilities also help physicians clearly address patients’ demands for a deeper understanding of costs.
“At Myriad Systems, we are redefining the future of private practice by securely and seamlessly integrating and accelerating every aspect of practice management with AI…,” said Jeremy Shiner, founder and president of Myriad Systems.
Consumer behavior changes and recent legislation are the impetus for further transparency in healthcare pricing. According to McKinsey, cost is a key consideration as consumers increasingly shop for healthcare. This is compounded by regulations such as the No Surprises Act, which mandate providing cost information to patients before treatment. Many private practices have not fully addressed these factors.
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To help private practices thrive in this evolving landscape, Myriad Systems infuses AI across Myriad Health, its all-in-one platform designed to streamline workflows, improve efficiencies and ensure proper payment. The platform provides a thorough view into the complete patient interaction, sharing data in a compliant manner within a closed loop between the electronic health records (EHR), billing, patient communications, forms and other functions. With a comprehensive array of accreditations and certifications, the fully customizable Myriad Health offers a unique pricing model where providers only pay for credit card processing service fees.
“While disparate practice management tools offer isolated benefits, the truly transformative impact comes with an AI-driven, all-in-one solution,” said Jeremy Shiner, founder and president of Myriad Systems. “At Myriad Systems, we are redefining the future of private practice by securely and seamlessly integrating and accelerating every aspect of practice management with AI features that reduce time on administrative tasks and increase the bottom line.”
“The integration of AI into Myriad Health makes the system an unbeatable value,” said Dr. Don DuBose, Palmetto Counseling Associates, Columbia, South Carolina. “Myriad Systems is changing practices for the better and relieving some of the burden clinicians face – it saved my practice so much time and money.”
Complying with the No Surprises Act
New AI enhancements in Myriad Health eliminate manual steps to gather data and subsequent guesswork to create estimates in compliance with the No Surprises Act. Additionally, it elevates patient education with clear cost explanations using animations, which can be shared through multiple channels.
The Healthcare Payment Protocol features AI Smart Scan to automatically create an insurance profile and run a live eligibility check using a kiosk or cell phone photo. Myriad Health’s custom algorithm then estimates the patient portion based on the allowable amount for the proposed treatments and produces a full invoice and an Advanced Explanation of Benefits (AEOB) using patient-friendly animations to explain balances and define terms. The system also outlines options to ensure complete payment at the time of treatment, reducing the risk of the balance becoming medical debt that may not be recovered.
Myriad Health’s Doctor ClearCare is a friendly character to help patients understand balances with real-time eligibility information. This feature employs advanced AI to estimate patient balances prior to treatment in compliance with the No Surprises Act, including the AEOB for in-network visits and Good Faith Estimates for out-of-network patients. Doctor ClearCare delivers personalized information to the patient during the check-in process through a customized mobile device or kiosk.
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Resolving accounts receivable balances instantly
Built on a deep foundation in healthcare-exclusive payments, Myriad Health leverages the psychology of patient payments to reduce accounts receivable write-offs.
To optimize revenue cycle management, IncomeIQueue aggregates all patients with balances, grouping those who pre-authorized amounts not covered by insurance with a card on file and those who have not. In one click, the user can perform AI-recommended actions for all outstanding payments, cleaning up patient and insurance accounts receivable balances instantly. Myriad Health tracks and reports on savings the interface.
These capabilities are the first of many planned AI enhancements across Myriad Health. The Healthcare Payment Protocol is available today. IncomeIQueue and Doctor ClearCare will be available in the third quarter of 2024. Existing Myriad Health user interfaces will automatically update with the new features at no additional cost.
