- June 20, 2022
- News
Waterlabs AI is guided by the mission to help healthcare organizations, payors, and their partners streamline operations, identify financial risks, and retain their most valuable health consumers using cutting-edge AI technology. The company is the brainchild of Kamal Raj, who has worked for years in some of the largest healthcare RCM companies.
During his stint, Raj witnessed firsthand organizations’ struggle to rightly manage their revenue cycle owing to their dependence on manual processes. Even the existing technologies were not
capable enough to automate the critical operations while ensuring the security of patient information. Driven by the urge to change the status quo, Raj, along with a team of seasoned industry experts, set the foundation of Waterlabs AI.
Waterlabs AI has introduced a fully AI enabledRCM cloud workflow platform that allows its clients to automate their processes without access to data. This workflow solution also has embedded AI enabled RPA which is capable of processing information and voice calls. This highly integrated automation platform is already used by several large clients who are processing insurance claims using one tenth of staffing and due to extreme accuracy enjoys percent front end rejections when the claims are submitted in to clearing house. As medical institutions are highly
regulated and need to comply with several guidelines in terms of accessing patient data, Waterlabs AI has brought a solution that automates healthcare institutions’ processes without accessing any critical data.
"We are the only organization that can automate processes within a ‘no data’ environment. Our platform doesn’t access any data and simply screens the processes and automates them using our patented AI technology. We also offer AI-enabled workflow solution to hospitals, clinics and billing offices that are already pre-connected to 1800+ insurance companies in the US. Thus, our workflow solution gives its users the ability to check the status of claims, resubmit them, pull EOB’s and get them processed efficiently and reduce their AR days. With the growing population and the immense pressure building up on the existing healthcare system, it is high time to adapt to automatic AI solutions. To this end, we have put our best foot forward, developing
innovative AI models and smart AI bots,” says Raj, who is currently donning the role of the President and CEO at Waterlabs AI.
Many healthcare businesses have for a very long time carried out claim processing or even basic tasks such as converting data into invoices and forwarding them to insurance companies manually. Considering the massive number of patients that a hospital, clinic and labs deal within a day, it’s not possible for their staff to file all the claims manually in an efficient manner. It not only demands a lot of time and delays claims, but also leads to inaccuracies in filing them and many claims gets returned as front-end rejections. “With our platform, we have automated all these processes. We have 1800+ insurance companies integrated into our AI platform and we can have capacity to process 2 million claims every day. Unlike the traditional process where professionals
from a hospital’s billing department must either check each patient’s claims through the insurance companies’ website or by reaching out to their customer care team via a voice call, we have it all embedded in our patented AI platform which can make the right decision itself and process them on practice management system appropriately. Our HINES Gateway Solution can provide claim status for your entire inventory within few seconds and posting of automated payments by RPA starts simultaneously. This speed allows our clients to track which claims aren’t processed and act faster on those pending payments as well as post payments to their practice management systems instantly using our workflow embedded AI-enabled RPA which runs round the clock," says Raj.
To put things into perspective, for one of the leading healthcare insurance companies, we are the only organization that can automate processes within a ‘no data’ environment. Our platform doesn’t access any data and simply screens the processes and automates them using our patented AI technology. We also offer AI-enabled workflow solution to hospitals, clinics and billing offices that are already pre connected to 1800+ insurance companies in the US. Thus, our workflow solution gives its users the ability to check the status of claims, resubmit them, pull EOB’s and get them processed efficiently, and reduce their AR days
Truly, Waterlabs AI is completely changing the way people work today in the healthcare payor and provider space by making the daily activities of employees more meaningful. This enables clients to save almost 50 percent of the additional expenditure. “We take each and every challenge seriously and conduct our R&D to find the best solution and customize it according to clients’ requirements,” says Raj.
