Compare ABN Assistant vs. Formic

Medical necessity denials represent a significant financial burden for healthcare providers, incurring costs that can reach into the millions annually due to write-offs, along with the expensive labor involved in investigating and contesting these denials while addressing patient inquiries. Conversely, payers also face similar challenges in the claims management process, as they incur expenses from covering unnecessary medical procedures and treatments, as well as the resources dedicated to handling denial appeals, all of which do not contribute to better patient outcomes. Additionally, patients may suffer from excessive copays and other out-of-pocket expenses, coupled with a frustrating healthcare experience due to charges and services that are not warranted. To combat these issues, the ABN Assistant™ from Vālenz® Assurance equips providers with essential prior authorization tools to confirm medical necessity, generate Medicare-compliant Advanced Beneficiary Notices (ABNs) that include estimated costs, and effectively prevent over 90 percent of medical necessity denials by ensuring that the necessity is validated before any care is administered to the patient. By utilizing this system, providers can enhance their financial stability while improving patient satisfaction and care efficiency.

Formic's versatile technology facilitates the rapid and scalable collection of multichannel patient experience surveys, serving over 200 NHS and public sector clients to transform patient feedback into actionable insights, assist with GP revalidation, and lay the groundwork for both immediate and long-term enhancements in quality and service. Our patient experience software can be deployed onsite, hosted, or offered as a fully managed solution, ensuring data validation at the point of entry while providing swift, accurate, and reliable results across both paper and digital mediums. Supporting a variety of formats including paper, online, tablets, kiosks, and touchscreens, Formic is designed to synchronize surveys across different channels, ensuring that responses from multiple organizations are consistent and aggregated into a central database, simplifying the process of analysis for care providers in various health and care environments. This comprehensive approach not only enhances the accuracy of data capture but also significantly streamlines reporting procedures for healthcare professionals.