New York – July 22 , 2024 – Purple Sky Well being, suppliers of an AI-driven platform designed to optimize healthcare claims administration, right this moment introduced that it has efficiently achieved System and Group Controls (SOC) 2 Kind 1 Compliance. Performed by Sentry Assurance, the excellent audit demonstrates Purple Sky Well being’s long-term dedication to supply its prospects with unprecedented transparency, privateness, and information safety.
Purple Sky Well being permits healthcare suppliers to recuperate earned income by figuring out the basis causes of claims errors, fixing them in actual time, and resubmitting claims. Their proprietary AI-solution, Daniel, helps suppliers to recuperate misplaced income by utilizing superior machine studying and generative AI algorithms to research historic claims information, determine and proper errors, and streamline the resubmission course of.
Serving as an emblem of belief and transparency for organizations dealing with delicate information within the always altering world of digital expertise, SOC 2 Kind 1 is an auditing commonplace that assesses the effectiveness of a corporation’s controls over data safety, availability, processing integrity, confidentiality, and privateness at a particular cut-off date. It measures a corporation’s methods and controls and evaluates the design and implementation of those controls to make sure they’re suitably designed to satisfy the related belief companies standards and assesses whether or not these controls are appropriately designed to satisfy the Trust Services Criteria (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 lowering denied claims a prime precedence. With seamless integration into EHR, billing, and claims methods, Purple Sky Well being helps healthcare suppliers recuperate 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 in keeping with a affected person’s prognosis and lined advantages offered by the payer, and by figuring out sufferers with unmet situations.
“Reaching SOC 2 Kind 1 compliance demonstrates Purple Sky Well being’s dedication to enterprise-grade information safety, availability, and confidentiality,” stated Jon Jaroska, CTO at Purple Sky Well being. “In an business the place belief and regulatory compliance are non-negotiable, this milestone alerts to hospitals, insurers, and authorized evaluate companies that Purple Sky Well being is devoted to managing delicate protected well being data and healthcare information in a safe and auditable method whereas serving to them enhance medical insurance declare denial remediation. Purple Sky’s enterprise-ready AI for denial expertise securely delivers clever automation with the compliance spine trendy healthcare requires.”
