Clearwave’s Multi-Factor Eligibility™ Wins a Silver Stevie® Award as a Proven Solution for Practice Profitability

ATLANTA – May 8, 2024 – Clearwave today announced its Multi-Factor Eligibility™ capability was named a Silver Stevie® Award winner in the Healthcare Technology Solution category of this year’s American Business Awards. Clearwave’s innovative Multi-Factor Eligibility solution, purpose-built to help practices expedite benefits checks, drive cleaner data, reduce claim rejections and increase collections with instant co-pay determination, was selected among the more than 3,700 nominations from organizations of all sizes. 

“Verifying insurance eligibility is a constant challenge for practices whether they’re using a manual or automated approach. Today, some practices dedicate hours to insurance verification and still struggle to collect accurate co-pays and send off clean claims. Our goal with Clearwave Multi-Factor Eligibility is to completely streamline this process for practices, shrinking the staff time spent on insurance verification from hours down to minutes,” said Clearwave Chief Executive Officer, Mike Lamb. “This recognition, in addition to what we continually hear from our clients, proves that practices can truly put Clearwave’s Multi-Factor Eligibility to work and see immediate improvements to co-pay collection, claims processing, prior authentication and overall efficiency.” 

Clearwave’s Multi-Factor Eligibility solution is unique to the market, with clients continually sharing how the solution is proven to drastically drop staff workloads and outperform automated verification solutions they’ve used in the past. “Clearwave’s real-time eligibility and benefits solution goes above and beyond what a practice’s PMS does. The amount of data and information that’s returned in Clearwave’s dashboard is much more comprehensive than a PMS,” said Skyler Fierro, Chief Executive Officer at IHBS. Learn more about her experience with Clearwave here.  

Clearwave Multi-Factor Eligibility automatically runs multiple checks on every patient, drills down to specific plan details, and assesses self-pay patients for Medicaid eligibility. It also maps payers to appointment types, matching and inputting the correct co-pay amount to patient accounts without manual intervention. The system includes a comprehensive dashboard that narrows staff focus to patients with insurance discrepancies and errors that must be addressed before patient appointments. Karri Little, Insurance Verifier Lead at the CardioVascular Group said, “The Clearwave Eligibility dashboard and flagging system have helped us reduce our denials. Clearwave gives us a way to understand insurance errors so we can proactively solve them, which helps us collect more at check-in and reduce claim rejections on the back end.” 

With these capabilities, Clearwave customers have seen: 

• 112% increase in point-of-service collections. 
• 94% drop in claim rejections due to the mitigated risk of human error. 
• 65% acceleration in cash flow. 
• 2x drop in staff workloads for eligibility verification.

See the complete list of winners for this year’s American Business Awards here. Learn more about Clearwave Multi-Factor Eligibility™ here.