Spark Health Partners (“Spark”), the industry leader in revenue cycle management, announced today that the United States Patent and Trademark Office has granted Spark three additional patents for its innovative automation technology, bringing the total of Spark-approved patents to five. The new technology will drive efficiency, productivity and results for health care providers, resulting in additional resources for patient care. Spark was awarded its first two U.S. patents in February 2021 and currently has six patents pending.
“Our team is continuing to build the most advanced revenue cycle technology in the market. This industry leading technology will drive patient experience and financial performance improvement for health systems across the country,” said AbdurRehman Sarwar, Founder and CEO of Spark. “This new, innovative technology provides digital, integrated and seamless experiences for patients while reducing administrative costs for health care providers.”
The patented technology allows for faster processing and resolution of payor
denials using automated ingestion and processing of reason codes within
workflow. The technology also enables workflow optimization given the
expected outcome and resource constraints in order to maximize efficiencies.
The
technology is the latest innovation from the Spark IQ (“EIQ®”) team.
Spark IQ is cloud-based analytics-driven revenue cycle operating platform
that enables a highly efficient and intelligent workflow automation to apply
our extensive domain expertise, automation and advanced acritical
intelligence to drive efficiency and yield. Client success is our top
priority and we dig deep to help solve the issues our provider partners are
facing. EIQ® is powered by an automation engine, which combines patent
pending Note Wizard Automation with the latest intelligent data exchange
technology, driving up to 60% productivity and 3-6% yield
improvement.
“This new technology is yet another component of a
comprehensive healthcare automation platform, developed by Spark, that
integrates with existing technology infrastructures and drives significant
revenue, cash and cost improvements at health care facilities,” said Pieter
Schouten, Spark’s Chief Product Officer. “The EIQ® platform is continuing
to grow substantially, with even more investment planned going forward.”
Spark partners with more than 380 hospitals and 7,000 health care
providers across the United States to improve financial outcomes and patient
experiences. Spark works with its partners to create a hands-on approach
to help health systems forge a healthier path forward to improve financial
performance, the billing process and customer service, allowing providers to
focus on improving outcomes and reinvesting into patient care and the
patient experience.
To learn more about Spark, visit www.SparkHP.com.
About Spark Health Partners Spark Health Partners is a leading innovator in revenue cycle management, helping health care providers improve financial outcomes and patient experiences with an unrivaled depth of expertise and best-in-class technologies. Spark offers full revenue cycle outsourcing as well as a comprehensive suite of health care financial management point solutions. With clients spanning the U.S. and Europe, we have been helping to improve health care outcomes for millions of patients while saving hundreds of millions of dollars for health care providers. We are committed to bringing every provider that we support to the peak of revenue cycle excellence. Our approach forges true partnerships that dive deep into the details to find solutions and deliver results that last. Recognized with multiple industry awards and as a Becker’s Healthcare Top Workplace, Spark is setting a new standard for provider support services – redefining the possible in health care by empowering people to be the difference. For more information, visit www.SparkHP.com.