Question: Is there a technology that can help healthcare payers increase collections and reduce accounts receivable using predictive models?

For healthcare payers trying to squeeze more money out of patients and cut accounts receivable with predictive models, Sagility is a good choice. The company uses machine learning and artificial intelligence to offer end-to-end revenue cycle management, claim operations and payment integrity services. With a focus on efficiency and cost savings, Sagility has processed more than 150 million transactions per year and recovered more than $5 billion for customers. Its analytics and AI/ML technology automates administrative tasks and provides business insights to improve financial performance.

Another strong contender is MedeAnalytics, which offers more powerful healthcare data analytics to help payers and providers improve financial health and patient health. Its platform includes predictive analytics, benchmarking and guided analysis to help organizations forecast and prevent problems. With more than 22,000 users at 2,000+ healthcare providers and plans, MedeAnalytics offers fast access to standard reports and more advanced decision support, reducing turn-around-times for ad-hoc reports and delivering ROI in 12 months or less.

For healthcare payers trying to automate their accounts receivable, Quadient AR is a good choice for a full automation option. The software automates collections workflows and offers real-time AR visibility, analyzing credit data and payor history to make more accurate cash flow projections. It integrates with several ERP, billing and CRM systems and has been shown to cut days sales outstanding by 34% and deliver a high return on investment over three years.

Last, Inovalon offers a cloud-based platform with advanced analytics and dynamic business intelligence to improve member care and outcomes. Payers can use Inovalon to improve revenue cycle management and care quality management, while providers can improve patient financial experience and care safety. With its broad data integration and analytics capabilities, Inovalon serves nearly 20,000 customers across 53,000 sites of care, improving business performance and patient outcomes.