Revenue Cycle Management Automation
Improve efficiency of health care providers’ revenue cycle process and uplift patient care, accurate extraction across medical records of different formats
Company Overview
A leading global leading technology-driven healthcare reimbursement firm headquartered in USA with international back offices across the globe.
Business Challenges
Redundant, repetitive tasks – checking claims status, denial appeals, etc. that involve checking records, forms & data across systems and communicating with stakeholders – patients, medical staff, payors, billing & accounting units
Large volumes of medical records, insurance claim forms from hundreds of providers received in spurts; multiple formats of handwritten & scanned documents – this poses challenges in accuracy and turnaround times
Manual errors causing reduced or delayed reimbursement from payers & patients due to incorrect diagnose code, imprecise eligibility estimation etc., lead to high accounts receivable for the healthcare provider
Inability to correctly predict out-of-pocket costs vs. eligibility in the payor health plan, wrongly denied claims etc. are some pitfalls of disparate systems or a primarily manual process – leading to patient dissatisfaction
Botminds Solution
DA dedicated, secure, private cloud deployment of the Botminds AI platform to keep all medical and claims documents in the client’s environment
Generic pre-trained AI models of the platform was able to handle the medical documents extraction and classification with efficiency of 60%
The Subject Matter Experts (SMEs) were trained in less than a week to use the Botminds AI platform to further train the models leading to higher accuracy - overall onboarding was accelerated, spanning 4 weeks