Do you want to improve your Revenue Cycle Management (RCM) but are unsure of what you should automate, what you should outsource, and who you can trust to provide the right answers? Technology and outsourcing are rapidly changing the world of RCM in the healthcare industry. At 4D Global, we’ve spent the past decade refining our approach to make our clients’ lives easier so they can increase both revenue and efficiency. We’ve found the optimal equation of technology, processes, and an offshore team to provide effective RCM solutions to medical billing companies.
Why Automate?
In the ever-evolving landscape of healthcare revenue cycle management (RCM), staying ahead of the curve is crucial. 4D Global is committed to developing advanced automation and AI solutions, leading the charge to improve efficiency for medical billing and healthcare companies. The use of this technology combined with our all-star team in Chennai, India allows us to deliver superior results. Our goal is to streamline the billing process, reduce administrative burdens, and improve cash flow for our clients. Ultimately, we know this will allow healthcare providers to focus on patient care, rather than medical billing, creating better health outcomes across the United States.
Using Technology to Improve Efficiency
4D Global has developed several bots to streamline Account Receivable (AR) follow-ups for Aetna, Humana, and Availity. This specialized technology ensures timely and accurate payment processing, reducing delays and minimizing errors to optimize the medical billing process.
We’ve also incorporated Conversational AI into our tech stack to further enhance automation capabilities. Our AI Services offer automation and assistance with various administrative tasks, while our Library of Virtual Agents collaborates as a team to deliver seamless results. The Claims Work Console, a cloud-hosted software, empowers in-house billing teams by eliminating long hold times over the phone.
How AI and Technology Benefits You
1. Increased Efficiency: Automation significantly speeds up the billing process, allowing your team to focus on more strategic tasks rather than getting bogged down by repetitive administrative work. This increased efficiency leads to faster turnaround times and improves overall productivity.
2. Enhanced Accuracy: Manual data entry is prone to errors, which can lead to claim denials and delayed payments. AI-driven solutions ensure a higher level of accuracy in data processing, reducing the risk of errors and improving the reliability of your revenue cycle management.
3. Cost Savings: By automating repetitive tasks and optimizing workflows, you can significantly reduce operational costs. Our carefully curated tech solutions allow us to allocate resources more effectively, leading to substantial cost savings for our clients over time.
4. Improved Cash Flow: With faster processing times and fewer errors, you can expect a more consistent and predictable cash flow. Timely and accurate billing means quicker payments and more financial stability for your business. The faster doctors get paid, the better.
5. Scalability: Our technological solutions are designed to grow with your business. Whether you’re a small private practice or a large medical billing company, our scalable solutions can accommodate your needs, ensuring you’re always equipped to handle increasing volumes of work.
What’s Next?
We’re currently developing additional AI-enabled tools that will revolutionize medical coding. One of these tools will analyze encounter charts, lab reports, and medications to generate precise medical codes (ICD, CPT, E&M, HCC, HCPCS) almost instantaneously. We anticipate increased productivity of up to 20% with the implementation of this tool, which is expected to be available to our clients before the end of 2024.
Also coming soon is a quality monitoring tool that will automate the quality check process, replacing manual redundancies and ensuring base-level accuracy. These automated workflows and guidelines will streamline our human effort for better results.
Finally, our upcoming CARC and RARC analysis tool will transform denial management. Future capabilities include implementing preemptive corrections to reduce future denial and enhanced reporting and monitoring with real-time dashboards.
Why Choose 4D Global?
At 4D Global, we pride ourselves on being at the forefront of technology and innovation in the RCM industry. We have over a decade of experience integrating advanced and customizable solutions as a trusted partner for medical billing companies, hospitals, physician practices, and software companies nationwide. Here’s what you can expect when working with us:
- Reduce A/R backlog by 80% in first 90 days
- Achieve 85% increase in collections in first 180 days
- Decrease days in AR from 41 days to 15 days
- Reach 97% posting accuracy
- Improve turnaround time (TAT) to 96% for charge entry and posting
Book a discovery call to learn more about our RCM solutions and see for yourself how our blend of technology and expertise can elevate your revenue cycle. Experience the future of medical billing with 4D Global—where technology and people work together to deliver superior results.