RevMaxAI, a pre-bill solution has real-time Natural Language Process(NLP) extraction that empowers reviewers with insightful nudges, provides an intelligent workflow to manage operations, and insights to monitor progress. This helps reduce administrative cost by minimizing claims rework and drive collaboration between payers and providers.
The shift to fee-for-value reimbursement models has shifted accountability to both providers and payers to save overall costs and ensure more accurate and timely reimbursements. Mitigating inaccurate payments is costly both for providers and payers alike, and requires additional, labor-intensive work on both ends. A study by the Medical Group Management Association found that it can cost as much as $25–30 to rework a single claim for providers, and this results in significant incorrect payments.
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