The advent of artificial intelligence (AI) has revolutionized the industrial landscape globally, and healthcare is no exception. The much-sought-after technology it is today has long evolved from traditional data analysis to more sophisticated, advanced systems smart enough to optimize patient journeys. With its unparalleled speed and efficiency in streamlining processes, its use cases have become limitless. For healthcare leaders battling revenue cycle management (RCM) intricacies like inexplicable denials, recurring revenue leaks, puzzling codes, and shifting payer behavior, AI is no less than a savior and a game-changer. It’s no wonder why its adoption has soared over the years and refuses to slow down.
AI: A catalyst for revenue cycle transformation
From streamlining patient access and claims filing to fast-tracking revenue recovery through proactive denial management, AI continues to work its magic at every aspect of the revenue cycle, helping providers achieve financial sustainability amid staff shortages and rising operational costs. Tapping into the potential of its transformative power has become non-negotiable for providers today, and that’s where Jindal Healthcare’s HealthX comes into picture.
Meet HealthX: Your AI ally in revenue cycle excellence
HealthX is Jindal Healthcare’s proprietary AI-powered propensity-to-pay, foolproof workflow management platform. It is at the heart of Jindal Healthcare’s holistic revenue cycle optimization solution suite that helps streamline patient access, medical coding and billing, AR management, and practice planning. The one-of-a-kind tech-stack leverages AI and works in conjunction with other industry-leading technologies like business intelligence (BI) and robotic process automation (RPA) to optimize the revenue cycle, thus empowering healthcare providers to:
- Boost their revenue recovery with seamless workflows
- Break down process siloes for better collaboration
- Achieve unparalleled efficiency across the board
- Reduce admin burden, cut operational costs, and prioritize patient care
- Improve financial outcomes and patient satisfaction while staying compliant
Decoding HealthX: An end-to-end revenue cycle AI platform
HealthX is a comprehensive healthcare AI ecosystem built by Jindal Healthcare that complements our revenue cycle optimization solution suite and the subject-matter expertise of our certified, trained RCM experts. It seamlessly integrates within the existing workflows and standard operating procedures (SOPs) of healthcare providers to help them optimize their revenue cycle for improved financial performance and patient experience.
A complete RCM AI tech-stack for healthcare practices
- Seamless patient access with efficient pre-auth and RPA-assisted verification: HealthX facilitates automation of the front-end task of patient eligibility verification by up to 70% by leveraging the capabilities of bots to complement the subject-matter expertise of our experts to streamline patient access. It helps boost front-end efficiency by accurately fetching updated coverage and benefit information from payer databases in real-time, within a matter of seconds, thus maximizing process efficiency and minimizing staff burnout and patient wait times with quick verification. Besides, it helps our experts in obtaining prompt payer approvals with accurate documentation to minimize patient wait times, reduce instances of underutilized clinical staff, and speed up care delivery, thus creating a win-win for patients and providers through streamlined patient access.
- Simplified medical coding and billing with custom edits: HealthX sits at the heart of our medical coding and billing solution to facilitate accurate charge capture and timely claims filing. Moreover, with its ability to create custom SOPs specific to practices and payers, perform root cause analysis (RCA), and facilitate a feedback loop, it helps in not only addressing coding and billing-related denials but also in improving the clean claim rate and preventing recurring denials with timely custom edits.
- Prioritized worklists (propensity-to-pay) for faster revenue recovery: Leveraging its propensity-to-pay model, HealthX helps prioritize claims, manage accounts receivable (AR), and boost collections based on various parameters, including their relevance, value, and likelihood of getting paid. This, in turn, helps fast-track claims, accelerate cash flow, and improve reimbursements to boost the financial health of your practice.
- Democratized data, RCA, and a feedback loop for better denial management: HealthX-inbuilt decision tree analyzes huge volumes of claims data to guide the best course of action at every step of the way, which further helps improve process efficiency and manage denials better. Besides, the AI-powered platform helps identify the root cause behind recurring or inexplicable denials that are often missed by the human eye. It further aids our subject-matter experts in reviewing each claim thoroughly for process or compliance-related errors and ensuring the problem is fixed through a feedback loop to prevent denials.
- KPI tracking on intelligent dashboards for informed decision making: HealthX reviews the financial performance of your practice by tracking and monitoring your key performance indicators and revenue cycle metrics in real-time on intelligent dashboards, giving you a complete picture of your revenue cycle performance. This further helps in identifying revenue leaks and areas of improvement and sealing the gaps in the revenue cycle besides facilitating better visibility and collaboration across the board.
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Why AI platform like HealthX is non-negotiable for your practice
With RCM complexities rising on account of staff shortages, soaring operating costs, changing payer trends and regulatory policies, and sluggish processes, practices are actively looking for means to tackle revenue cycle pain points and keep themselves financially sustainable amid growing competition. They are, therefore, turning to the game-changing technology, AI, to optimize their revenue cycle workflows to beat their financial goals while staying focused on patient care.
For those wanting to stay ahead of the curve, Jindal Healthcare’s HealthX can be your ally in revenue cycle optimization to help you turbocharge your revenue while staying compliant.