Revenue Cycle Management Automation
Improve efficiency of health care providers’ revenue cycle process and uplift patient care
Efficient, accurate extraction across medical records of different formats
Streamline Revenue Cycle Process
End to end automation, AI-powered highly accurate extraction and validation of patient & claims data – greatly reducing administrative effort & manual intervention
Manage Case Spikes & Variations
Handles multiple formats of medical records, insurance claim forms (handwritten & printed, scanned) from hundreds of providers; and spurts of incoming documents
Minimise Revenue Loss or Delays
End-to-end automation with pre-trained models avoiding manual errors, reduces chances of delayed or reduced reimbursement
Enhance Patient Satisfaction
Reduces claim denials due to highly accurate extraction and processing, track claims status better, overall enable better quality of care for patients
Powerful Revenue Cycle Management Automation Platform
AI-powered extraction of data across electronic or patient health records (EHRs/PHRs) & insurance claims forms, validation, insightful reports and end-to-end workflow automation – to optimise revenue cycle for health care providers.
Capture
For automated data extraction
Automated classification of medical records (patient health records, insurance claim, cover page, discharge summary etc.) of different formats from hundreds of healthcare providers; and template-free extraction from handwritten or printed text, checkboxes etc. based on pre-trained models and easily trainable models; with semantic understanding of data points extracted; automated validation thereby greatly reducing administrative burden and needs for SME/ human intervention.
Search
For Seamless Search
Powerful cognitive vertical search engine that queries across documents based on relevant search filters – such as diagnose code, payor or provider etc. – to enable RCM service providers and healthcare providers discover relevant information and documents quickly; in addition, semantic search that provides relevant results for Q&A -type queries.
Analyse
To accelerate decision-making
Customizable, interactive dashboards produce reports in form of interactive graphs and charts on claims processed vs. denied, average time taken - provide productivity insights and enable decision-making
Automate
To maximise efficiency
Workflow automation and integration (via APIs, webhooks) to downstream/upstream healthcare systems – thereby greatly reducing document or data duplication effort, back-and-forth coordination between entities or roles.
Why choose Botminds Revenue Cycle Management Automation Solution?
Automatically extract, normalise and validate data from multiple, complex medical records in minutes
Reduce tedious, manual tasks in claims and billing part of revenue cycle process
Ensure regulatory (HIPAA) compliance through secure, private cloud deployment of the solution
Point and click configuration, no-code AI with simple intuitive interface
Up to 100% accuracy that improves over time with self-learning – critical for healthcare data
In-built OCR and encryption capability - even password-protected medical record PDFs can be read within the platform
Accuracy
Process Efficiency
Reduced Time
Claims Files Throughput
Frequently asked questions about Revenue cycle management automation
Still have questions?
Please chat with our support team.
What is Revenue Cycle Management (RCM) in healthcare important?
RCM is a critical, time-consuming and administratively heavy process that includes patient registration, insurance billing, verification with payors, coding the claim, payment and collection.
Errors and delays due to manual entry or checks across high volumes of documents leads to poor patient satisfaction; and delays in collections for the healthcare providers.
With a huge number of payors (over 900 in the US), health plans, validation checks required and regulations to comply with – health care providers outsource this critical back-office process to RCM service providers – who deploy large teams to handle this.
Pre-processing a claim filed needs to be done in a stipulated time frame – and this poses a challenge when done manually.
Automation of the RCM process enables RCM service providers turbocharge the entire process – handling claims in minutes with ~100 accuracy – they are thus able to increase the volume of records handled with the same time (nearly 3X)
Health care providers can also leverage automation to reduce manual efforts and streamline their RCM process.
What types of documents are handled by the platform?
The Botminds AI platform can handle all key financial statements in multiple formats, reporting/accounting standards and filing types across geographies - Balance sheets, Income statements, cash flows, Annual reports, SEC filings (10Q, 10K, 8K etc.); tax forms; Personal financial statements etc.
Does the platform handle only digital documents?
Botminds can handle any PDF documents (scanned or digital) - handwritten and/or printed. In addition, the Botminds AI platform can extract relevant payor, provider or other related unstructured data from web pages, if any.
How secure is the healthcare and claims data handled by the platform?
In case of SaaS model, the data is highly secure with 2FA and role-based access controls in place. Botminds platform was built with high degree of data security in mind.The Botminds AI platform can also be deployed in a private cloud environment for our clients – this ensures that documents and data never leave the client’s environment.
See Botminds Platform In Action
Learn how Botminds Intelligent Document Process can drive ROI, reduce costs, and save time for your business.