Thursday, April 18, 2024

ImagineSoftware and Maverick Medical AI Team up to Offer an AI-powered, Fully Automated Medical Coding Solution

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Maverick Medical AI, or Maverick, a provider of an innovative and autonomous AI-powered medical coding platform, partners with ImagineSoftware, the leading provider of revenue cycle management (RCM) technology in the U.S. Through the partnership, ImagineSoftware will integrate Maverick’s AI-powered Autonomous Medical Coding Platform as a solution for customers to scale their operations and achieve a higher direct-to-bill rate.

As the healthcare industry accumulates inordinate amounts of data while suffering from staff shortages, including among medical coding teams, there is a dire need for more robust coding systems to optimize revenue cycle operations. With care providers digitizing their medical records amid staff shortages and fewer resources, there is a growing demand to automate the coding process with generative AI to improve RCM and help healthcare providers recoup lost revenue and optimize operational costs.

As a cornerstone of the partnership, ImagineSoftware certifies Maverick’s Autonomous Medical Coding Platform as a complementary product, making the fully automated, generative AI-powered solution available as part of its existing offerings, further allowing both organizations to collaborate in offering physician groups, hospitals, and RCM companies a solution capable of automating the medical coding process and boosting medical coder productivity.

Maverick combines extensive domain knowledge of medical coding with cutting-edge machine learning and generative AI. Its AI engine autonomously analyzes clinical notes and reports, accurately generating reimbursement codes (ICD-10, CPT) in real time, enabling charges to be available to billing systems within seconds. Maverick’s Generative AI model, which learns by collecting real-time feedback from auditors and medical coders, results in consistently compliant coding that reaches an industry-leading 85 percent direct-to-bill rate.

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Specializing in configurable billing and revenue-driving solutions, ImagineSoftware adapts and easily integrates across more than 40 disciplines, including radiology, anesthesiology, pathology, and emergency medicine. The ImagineSoftware system processes more than $37 billion in annual charge volume as a leading provider of medical billing automation software and revenue cycle management applications.

“The healthcare industry is facing severe challenges, and they are all interconnected and ultimately negatively impact the quality of patient care,” says Yossi Shahak, CEO and Founder of Maverick Medical AI. “As a leader in the RCM space, ImagineSoftware is well aware of the challenges that healthcare organizations face, and this is one of the reasons they decided to partner with us. Together, we will establish a new standard for revenue cycle management.”

“We couldn’t be happier partnering with Maverick to propose a collaborative solution across our diverse collection of clients in an effort to help them achieve the highest possible direct-to-bill rate,” says Tim White, ImagineSoftware’s Vice President of Channel Partner Sales. “Combined with Imagine’s full solutions offerings, Maverick’s autonomous platform enables a robust and productive method for managing healthcare billing cohesively. We are excited to move this joint venture forward.”

SOURCE: BusinessWire

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