Saturday, December 21, 2024

Thoughtful AI Transforms Healthcare RCM with AI Agents

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Thoughtful AI, an AI-powered revenue cycle transformation company, announced the launch of its comprehensive team of specialized AI Agents for revenue cycle management (RCM), marking a new era in healthcare AI. The complete AI Agent team – featuring specialized agents like EVA for Eligibility Verification, PAULA for Prior Authorizations, CODY for Coding and Notes Review, CAM for Claims Processing, DAN for Denials Management, and PHIL for Payment Posting – transforms every step of the RCM process. Healthcare providers benefit from streamlined operations, unparalleled accuracy and scalability, and reduced costs.

“Our team of AI Agents turn RCM from a bottleneck into a powerhouse, using AI and automation to tackle tedious, time-consuming tasks so that healthcare teams can optimize revenue and focus on what matters most – patients,” explained Alex Zekoff, co-founder and CEO of Thoughtful AI.

Traditional RPA tools and fragmented automation solutions that only handle single tasks or require extensive human oversight no longer cut it. Thoughtful’s AI Agents take a comprehensive approach – leveraging natural language processing (NLP), optical character recognition (OCR) and machine learning as well as advanced AI that adapts and learns from each interaction – to address all key RCM functions. Thoughtful AI customers benefit from reduced claim denials of up to 75%, operational cost savings of up to 80%, and 95% eligibility verification accuracy. Traditional and fragmented solutions can’t match these stellar metrics.

Also Read: Innovaccer Launches AI for Personalized Healthcare

Cara Perry, vice president of RCM at Signature Dental Partners and a Thoughtful AI customer, shared her experience: “Thoughtful’s AI Agents have revolutionized our approach to RCM. We’ve seen a 10x increase in processing speed, which has allowed us to improve efficiency and scale operations without adding additional staff. Their seamless integration into our systems has been a major advantage, making them a vital part of our strategy moving forward.”

Thoughtful AI’s comprehensive team of AI Agents is becoming essential at a time when healthcare providers are grappling with labor shortages and high employee churn, significant claims denials and rework, widespread operational inefficiencies, and rising operational costs. The vast majority (80%) of healthcare professionals report a decline in patient experience due to understaffing. And persistent labor shortages and high turnover in RCM mean that healthcare providers are forced to contend with a costly, ongoing cycle of recruiting, hiring, and training. Eighty percent of healthcare professionals report a decline in patient experience due to understaffing. And persistent labor shortages and high turnover in RCM mean that healthcare providers are forced to contend with an expensive, ongoing cycle of recruiting, hiring, and training.

The complete team of RCM AI Agents underscores Thoughtful AI’s commitment to fixing the U.S. healthcare system by driving operational efficiency, profitability, and revenue optimization. It aligns with Thoughtful AI’s mission to be the leader in agentic AI for healthcare RCM, empowering providers to improve financial performance and focus more on delivering quality patient care. By streamlining back-office operations and reducing delays in billing, approvals, and claims processing, Thoughtful AI enhances the patient experience – ensuring faster access to care, fewer billing errors, and improved out-of-pocket-cost transparency.

“RCM today is a burden for healthcare providers,” added Zekoff. “Thoughtful AI’s team of AI Agents is changing that – transforming the RCM process into a competitive advantage. Now healthcare providers can focus more on their patients while enjoying better profitability.”

Source: Businesswire

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