Although providers and payers feel like they’re engaged in an epic, ongoing battle over claims, Abhinay Vyas, Co-Founder and Chief Data Officer at RapidClaims, believes that approvals can increase when both realize that they are fundamentally interested in truth. RapidClaims’ AI-driven revenue cycle tools help to uncover the complexities in care and provide the evidence to back up a claim.
Vyas says that AI has to be both accurate and explainable to be adopted. RapidClaims’ algorithms are self-hosted and self-trained. They are flexible enough to support every specialty and adapt to the needs of different institutions. To this end, they have more than 118 AI models, which they set against each other to eliminate errors and hallucinations.
Lisa Rosenkoetter, Vice President of Sales at RapidClaims, says they address cost, revenue, and compliance. As the complexity and severity of health conditions increase, providers “need to recoup every dollar for the care you’ve provided.”
Another feature of RapidClaims is their speed of deployment. They can be up and running in a week or two at most clients and, in Rosenkoetter’s words, “innovate on a daily basis.” Vyas points to the size of their integration team, which makes sure they work seamlessly with the client’s other systems.
The skyrocketing rate of denials is one of the most urgent issue in revenue cycle management, so RapidClaims is focused on helping healthcare organizations reduce denials. The company also supports other parts of the revenue cycle such as eligibility verification, prior authorization, autonomous coding, and clinical documentation improvement. RapidClaims has found success helping mid-sized healthcare organizations but they’re starting to see interest from big players as well.
Check out our interview with RapidClaims to learn more about their use of AI to improve RCM.
Learn more about RapidClaims: https://www.rapidclaims.ai/
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