HealthFAX™ RCM Solutions Sets New Standard in Revenue Cycle Management with Breakthrough Results

San Jose, CA. September 11, 2024: HealthFAX™, a leader in AI Powered Revenue Cycle Management (RCM) solutions, is proud to announce the success of its implementation with a key healthcare RCM provider, demonstrating the transformative impact of its innovative RCM technology. A leading global medical billing company, known for delivering RCM services to healthcare organizations worldwide, faced significant operational challenges due to the high volume of daily transactions. The key issues identified were the need to accelerate the medical coding process and to secure real-time prior authorizations to enhance operational efficiency and scalability.

HealthFAX™ introduced its advanced automated coding solution, specifically designed to streamline ICD and CPT coding. By integrating cutting-edge AI and machine learning, HealthFAX™ provided accurate and efficient coding for medical procedures and diagnoses, significantly reducing manual errors and improving overall accuracy (92% +) across medical specialties and manual review was required in only about 8-10% of cases.

Additionally, HealthFAX™ offered a comprehensive automation solution for eligibility and benefits verification, as well as prior authorizations. Leveraging sophisticated algorithms and real-time data integration, HealthFAX™ enabled the automatic verification of patient coverage, identified necessary prior authorizations, and seamlessly generated all required documentation. This approach dramatically reduced the risk of claim denials and optimized the company's operational scalability, delivering a robust solution to their daily throughput challenges.

HealthFAX™ delivered a transformative solution by drastically reducing the time required for key processes. With HealthFAX™'s advanced automated coding system, the time to code a single medical note was slashed from 40 minutes to just 15 minutes. Additionally, the prior authorization process, which previously took 2-3 days when done manually, was reduced to under 3 hours.

This implementation provided several significant improvements to the medical billers existing process, such as:

- Improved Operational Efficiency
- Enhanced Revenue
- Streamlined Back-Office Operations
- Flexible Customizations
- Improved Care Quality

The Director of Engineering & Development for OptraHEALTH, Mr. Nitin Sharma said "We're thrilled with the success of this implementation. It presented unique challenges, but through strong collaboration, we were able to solve them efficiently. HealthFAX™ was already yielding impressive results, but the additional customer data allowed us to fine-tune our models even further and achieve exceptional outcomes."

About OptraHEALTH: OptraHEALTH is a leading provider of AI based solutions for healthcare. HealthFAX™ RCM solutions are designed to address the complex challenges healthcare providers face in managing their revenue cycles. By leveraging state-of-the-art technology, HealthFAX™ helps providers maximize revenue, reduce administrative costs, and enhance patient engagement.

For more information, please contact:

OptraHEALTH, Inc.
Dr Ashwin Kotwaliwale || Product Owner
📧 Email: info@optrahealth.com
📞 Phone: +1-408-524-5300
🌐 Website: www.healthfax.ai || www.optrahealth.com
Postal Address: 1798 Technology Drive, Suite 210, San Jose, CA 95110

OptraHEALTH's HealthFAX™ RCM revolutionizes healthcare revenue cycles. Our cutting-edge AI maximizes revenue, slashes costs, and boosts patient engagement - empowering providers to focus on care, not paperwork.

This release was published on openPR.