In the dynamic healthcare industry, effective revenue cycle management (RCM) is essential for maintaining financial stability and operational efficiency. Cash posting, a critical component of the RCM process, ensures accurate and timely recording of payments received from patients and insurance companies. However, manual cash posting can be time-consuming and prone to errors, leading to delays in revenue recognition and increased administrative costs. CognitiveHealth’s iCAN™ platform offers a revolutionary solution with its AI-driven cash posting automation. This service page explores how CognitiveHealth’s iCAN™ platform transforms cash posting and overall revenue cycle management for healthcare providers.
Manual cash posting involves several steps, including receiving payments, verifying amounts, matching payments to the corresponding invoices, and recording transactions in the financial system. This process is labor-intensive and susceptible to errors such as data entry mistakes and misapplied payments, which can result in:
Automated cash posting leverages advanced AI technologies to streamline and enhance the cash posting process. By automating repetitive and time-consuming tasks, healthcare providers can significantly improve efficiency, accuracy, and overall financial performance.
Capture and document every step of your business processes.
Real-time process recording ensures accurate data capture and analysis.
Purpose-built for healthcare, iCAN™ integrates with many EMRs and other business applications.
iCAN™ is a network of AI Agents. They come with an ever-expanding pre-built library of workflows.
Efficiently processes both structured and unstructured data.
Using AI Agents, iCAN™ automates the downstream workflow using the data and business process indicators.
Using machine learning and NLP, iCAN™ standardizes, classifies documents and other assets extracts data from them.
Using historical data and the vast amount of available data, iCAN Predict™ uses Gen AI, machine learning, and LLM.
Leverage GenAI and the data to predict and mitigate potential issues in the revenue cycle.
Using agent technology combined with data, iCAN Predict™ efficiently automates even complex business processes.
Automates the scheduling of critical tasks to ensure timely execution.
Real-time monitoring with automatic alerts for exceptions.
Generate detailed reports to support decision-making and continuous improvement.
Up to 80% reduction in manual effort.
Ensures prompt handling of denials, medical record requests, and patient letters.
Hyper-converged infrastructure to handle large volumes of correspondence.
Significant reduction in manual effort and data entry errors.
Supports remote work without disrupting workflows.
Provides a digital and cost-effective audit trail for each posting.
CognitiveHealth’s team comprises GenAI architects, healthcare security and privacy experts, and revenue cycle SMEs with extensive experience managing RCM processes for healthcare providers of all sizes. Our team has successfully implemented AI-driven solutions in partnership with recognized health systems, nursing homes, and specialty care providers.
CognitiveHealth’s team comprises GenAI architects, healthcare security and privacy experts, and revenue cycle SMEs with extensive experience managing RCM processes for healthcare providers of all sizes. Our team has successfully implemented AI-driven solutions in partnership with recognized health systems, nursing homes, and specialty care providers.
Our AI-powered solutions deliver significant ROI by focusing on labor-intensive processes and minimizing human involvement to exceptional handling and oversight. By accelerating automation and eliminating redundancies, CognitiveHealth ensures rapid implementation and quick time-to-value.
In the fast-paced world of healthcare, automating critical processes such as cash posting is essential for maintaining financial health and operational efficiency. CognitiveHealth’s iCAN™ platform provides a comprehensive solution that addresses these challenges head-on, empowering healthcare providers to focus on delivering exceptional patient care. By embracing automation, healthcare organizations can significantly reduce administrative burdens, enhance cash flow, and improve overall performance.
Experience the future of healthcare revenue cycle management with CognitiveHealth’s iCAN™ platform – a revolutionary approach to cash posting automation. Embrace the power of AI and transform your revenue cycle processes today.
CognitiveHealth’s team has extensive experience managing Healthcare RCM processes for small, medium, and large healthcare providers and systems. The team includes AI & GenAI Architects & developers, Healthcare Security and Privacy experts, and Healthcare Revenue Cycle SME’s.
This experienced team of CognitiveHealth has partnered with recognized health systems to build iCAN™ – Network of AI Agents.
iCAN™ platform is purpose-built for healthcare.
We understand your concerns about privacy and security. At CognitiveHealth, our infrastructure meets the highest standards, and we actively follow the latest AI trust and risk guidelines to ensure your safety.
