Cloud-Based Revenue Cycle Management Solutions for Healthcare Organizations

Background
The University of New Mexico (UNM) is seeking to procure cloud-based revenue cycle management solutions to enhance the efficiency and effectiveness of healthcare providers. The proposed vendor, Waystar, offers a proprietary software platform designed specifically for healthcare organizations. This platform aims to streamline processes related to claim management and payment processing.

Work Details
Waystar provides an end-to-end revenue cycle management solution that includes:
- Claim management
- Prevention of rejections and denials
- Automation of claim monitoring
- Streamlining of attachments.

The software is built on Hubble, an AI and robotic process automation tool that automates the eligibility process and assists clinics in confirming expected patient costs. It timestamps each claim for visibility and proof of timely filing. Additionally, Waystar integrates seamlessly with ICANotes for efficient exchange of claim, remit, and eligibility information. The total contract amount is $250,000 for a term of 5 years.

Period of Performance
The contract will be performed over a period of 5 years starting from the date of approval.

Place of Performance
The services will be provided remotely via the cloud-based platform accessible to healthcare organizations across various locations.

Bidder Requirements
This procurement is classified as a sole source due to Waystar's unique technological capabilities and comprehensive solution suite that no other vendor can match. There are no specific set-aside certifications or additional requirements mentioned.