Syntellis’ Axiom Software Ranked No. 1 Contract Management Solution by Black Book for Second Consecutive Year
Axiom cited as best contract management solution for hospitals, health systems, and physician practices
CHICAGO – August 12, 2020 – Syntellis Performance Solutions, a leading provider of enterprise performance management (EPM) software, data, and analytics solutions, announced today that its Axiom Contract Management solution has been identified as the top-ranked solution in Black Book Market Research’s annual report on client satisfaction and vendor performance for the second consecutive year.
Out of 20 ranked vendors, Axiom took top honors in 13 of 18 criteria measured in the contract management-specific report, including client relationships and cultural fit; innovation and optimization; trust, accountability, transparency and ethics; integration and interfaces; technical support and customer care; and best of breed technology and process improvement.
Additionally, Syntellis was named as the top contract management vendor in all four categories of provider organization type: hospitals with fewer than 100 beds; hospitals with between 100 and 300 beds; health systems and corporations; and physician practices and groups.
“Contract management is such a critical process for healthcare organizations because they really can’t afford to leave money on the table—especially in today’s climate,” said Doug Brown, president, Black Book Market Research. “Syntellis’ Axiom Contract Management Solution is the only software in the market that clients indicated exceeds expectations in all categories. It is the best-of-breed technology with a superior reputation for innovation, support, value, alignment to client goals and more.”
Syntellis’ Axiom Contract Management solution enables healthcare organizations to intelligently transition from traditional fee-for-service to fee-for-value reimbursement models, better predict and manage reimbursements, and leverage a data-driven approach for improved payer negotiations. With the solution, organizations can estimate net revenue by patient and better manage contracts, claims, and payments across the organization from both managed care and government payers.
“We’d like to extend our gratitude to our clients for once again recognizing Syntellis as healthcare’s industry leader in client satisfaction, operational excellence, and innovation in contract management,” said Kermit S. Randa, chief executive officer of Syntellis Performance Solutions. “Axiom Contract Management users enjoy accurate contract modeling, profitable payment compliance, and efficient denials analysis, which among other benefits, reduces time managing payment contracts by 50% and reduces denials by 5%, on average. Maximizing efficiency and revenues is especially critical as hospitals and health systems experience declining revenues from fewer inpatient visits and elective surgeries during the COVID-19 pandemic.”
To develop the rankings, Black Book investigated 305 finance functional category vendors utilized by 2,480 validated client users during the first and second quarters of 2020. Eighty-seven chief financial officers and 411 contract management professionals completed qualified client satisfactions scorings.
“Syntellis’ Axiom Contract Management helps us manage contracts, claims, and payments quickly and effectively,” said Lynn Lowrie, director of decision support and denials management at North Carolina-based Appalachian Regional Healthcare System. “We identified and remedied problems with payer contracts at the root cause to reduce denials more than 23% and recovered approximately $2.4 million. With results like that, the Black Book recognition is clearly well-deserved.”
Several other Axiom platform modules have earned top rankings in Black Book’s 2020 annual report, including Comparative Analytics and Cost Accounting & Decision Support.
About Syntellis Performance Solutions
Syntellis Performance Solutions, previously Kaufman Hall Software, provides innovative enterprise performance management software, data and analytics solutions for healthcare organizations. Our solutions include enterprise planning, cost and decision support, and financial and clinical analytics tools to elevate organizational performance and transform vision into reality. With over 2,800 organizations and 450,000 users relying on our Axiom and Connected Analytics software combined with No. 1 rankings from Black Book Research and HFMA Peer Review designation for 6 consecutive years, our proven industry expertise helps healthcare providers acquire insights, accelerate decisions and advance their business plans. For more information, please visit www.syntellis.com.
Amendola Communications (for Syntellis Performance Solutions)