New York – July 22 , 2024 – Crimson Sky Well being, suppliers of an AI-driven platform designed to optimize healthcare claims administration, in the present day introduced that it has efficiently achieved System and Group Controls (SOC) 2 Kind 1 Compliance. Performed by Sentry Assurance, the excellent audit demonstrates Crimson Sky Well being’s long-term dedication to offer its prospects with unprecedented transparency, privateness, and knowledge safety.
Crimson Sky Well being permits healthcare suppliers to get better earned income by figuring out the foundation causes of claims errors, fixing them in actual time, and resubmitting claims. Their proprietary AI-solution, Daniel, helps suppliers to get better misplaced income by utilizing superior machine studying and generative AI algorithms to investigate historic claims knowledge, establish and proper errors, and streamline the resubmission course of.
Serving as an emblem of belief and transparency for organizations dealing with delicate knowledge within the continuously altering world of digital know-how, SOC 2 Kind 1 is an auditing customary that assesses the effectiveness of a company’s controls over info safety, availability, processing integrity, confidentiality, and privateness at a particular time limit. It measures a company’s techniques and controls and evaluates the design and implementation of those controls to make sure they’re suitably designed to fulfill the related belief providers standards and assesses whether or not these controls are appropriately designed to fulfill the Belief Providers Standards (TSC) developed by the American Institute of Licensed Public Accountants (AICPA).
With greater than $4.5 trillion in insurance coverage claims annually, healthcare denials can have a big affect on a supplier’s income cycle. The time it takes to be reimbursed can also be rising, as 84% of healthcare organizations stated they’d make decreasing denied claims a prime precedence. With seamless integration into EHR, billing, and claims techniques, Crimson Sky Well being helps healthcare suppliers get better misplaced income, analyzing denial codes, payer guidelines, and historic outcomes to generate resubmission-ready responses inside minutes. The answer additionally improves inhabitants well being initiatives by recommending particular, reimbursable procedures based on a affected person’s analysis and lined advantages offered by the payer, and by figuring out sufferers with unmet situations.
“Attaining SOC 2 Kind 1 compliance demonstrates Crimson Sky Well being’s dedication to enterprise-grade knowledge safety, availability, and confidentiality,” stated Jon Jaroska, CTO at Crimson Sky Well being. “In an business the place belief and regulatory compliance are non-negotiable, this milestone indicators to hospitals, insurers, and authorized evaluation corporations that Crimson Sky Well being is devoted to managing delicate protected well being info and healthcare knowledge in a safe and auditable method whereas serving to them enhance medical health insurance declare denial remediation. Crimson Sky’s enterprise-ready AI for denial know-how securely delivers clever automation with the compliance spine fashionable healthcare requires.”
