A brief look at how the Claimocity software stacks up in relevant revenue cycle categories, and how our array of benchmarks and percentiles measure up against the best in the industry.
“Our A.I. based solutions boost efficiency by 5-10+ hours per week and on average reduces billing down to nine seconds per patient”, states Jim Jensen, COO of Claimocity. “Reducing revenue loss for our doctors is crucial, as is increasing time efficiency.”
Revenue Realization Rate at 45
Claimocity: 95% (#1)
Percentage rate calculated by comparing the average number of claims paid within 45 days to the total claims.
Industry Average: 75%
Net Collection Rate
Claimocity: 99% (#1)
Percentage rate calculated by comparing payments received to the total possible that could have been collected.
Industry Average: 90%
Clean Claim Rate
Claimocity: 99% (Tied #1)
Percentage of claims processed & reimbursed upon first submission without error, rejection, or manual intervention.
Industry Average: 95%
Days in A/R
Claimocity: 29 (Tied #2)
The average number of days that it takes to generate a claim payment.
Industry Average: 45 Days
% of A/R Older than 60 Days
Claimocity: 5% (#1)
Percentage of submitted claims that remain unpaid after 60 days.
Industry Average: 20%
% of A/R Older than 120 Days
Claimocity: 3% (#1)
Percent of submitted claims that remain unpaid after 120 days.
Industry Average: 15%
Billing Time Cost Per Patient
Claimocity: 9 seconds (#1)
The time spent on administrative billing burdens per patient per day.
Industry Average: 1.89 min (113.4 sec)
Claim Denial Rate
Claimocity: 4% (Tied #1)
The percentage of submitted claims that are denied by payers.
Industry Average: 10%
Mobile Charge Capture
Claimocity: 6%-10% (#1)
The reduction in lost or missing claims compared to paper filing.
Industry Average: 4%
Adds Revenue Within First 30 Days
Annual Revenue Increase
Monthly Time Saved Per Provider
“Our executive team approved participation in a voluntary two year time and revenue study in order to evaluate the quantitative and qualitative value compared to the numbers we were generating with the prior software in order to justify the switch. Within 24 months we had a 41.6% net revenue rate increase as well as an average of 38.8 hour savings per month per physician across our practice, which was a remarkable result.”