Adopt AI to reduce the cost to collect in healthcare
With payer consolidation, changing reimbursement guidelines, and the shift to value-based care, many healthcare providers are finding revenue cycle management (RCM) challenging. But digital technologies – if applied effectively – offer a cure for rising collection costs and denial rates.
Our RCM approach uses data, analytics, and AI to help providers assess an account's collection probability, avoid denials, and cut costs.
Improve revenue management with data and AI
Healthcare providers that adopt our solutions have:
- Raised per-agent collection rates by up to 47%
- Cut bad-debt write-offs by up to 20%
- Reduced the cost to collect by up to 35%
- Accelerated decision-making on claims by up to 81%
Case study: Better analytics, better revenue cycle outcomes
Two major hospitals in California partnered with Genpact for our data and analytics capabilities to improve their revenue cycles and collections and reduce resource costs.
We deployed a team of software engineers, analytics experts, and billing and collections teams to drive diagnosis and procedure code assignment, reduce denials, and improve clinical documentation education and feedback. This enabled the hospital system to improve workloads to more than 400,000 patient cases a year.
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