Pioneering revenue cycle management (RCM) intelligent technology solutions provider, SANTECHTURE, has unveiled two game-changing products for the Kingdom’s burgeoning healthcare provider community at the inaugural HealthTech Summit & Expo, which took place in Riyadh from 5-7 June.
THYNK is an RCM technology-driven smart rule engine, powered by artificial intelligence (AI) and predictive analytics, that supports insurance and medical rules validation processes in order to target improvement in clinical documentation improvement (CDI), minimize errors and optimize revenues.
More than four million rules are embedded in the system spanning medical coding; medical necessity; insurance approval and coverage; billing and pricing; insurance policies; and provider rules. THYNK offers seamless healthcare information system (HIS) integration, covering all RCM touchpoints across the patient journey, It also focuses on the delivery of real-time and proactive denial management functionality.
The Kingdom’s healthcare providers will also benefit from access to the region’s first cloud-based medical coding solution with the launch of SANTECHTURE’s state-of-the-art search engine-based CODEMINE tool. A terms and codes-based smart search solution, it supports a wide range of classification systems including ICD-10-AM, CM CPT, ACHI, ACS 10th edition and the SBS – Saudi Billing System. Designed to guarantee accurate outcomes, the user-friendly tool also covers KSA clinical coding standards and billing.
The KSA debut of these two next-generation solutions builds on the success of ROBIN, the company’s groundbreaking medical billing and claims management platform. The solution of choice for a growing list of prominent GCC based public and private healthcare sector entities, this week’s launch also serves to support SANTECHTURE’s position as a leader in the emerging highly specialized RCM technology (RCM-TECH) sector.
Commenting on the launch, SANTECHTURE Founder and CEO, Anas Batikhi, said: “The Kingdom’s Vision 2030 blueprint is prioritizing transformation of the healthcare sector for patients and focuses on supporting the urgent need for sector financial sustainability through the implementation of value-based healthcare for providers of all sizes, and the wider economy. Key to delivering a world-class infrastructure are the support systems needed to power overall sector performance by providing workflow transparency and improved efficiencies for healthcare providers, while creating a pain point-free patient journey. This is where SANTECHTURE delivers next-generation innovation and stands at the forefront of the RCM tech-revolution with game-changing solutions designed to ensure that denial rates are kept to a minimum while boosting financial performance.”
Batikhi also shared key market insights during a day two panel discussion on private sector initiatives in health tech, as well as headlining a session on the application of artificial intelligence (AI) in the healthcare industry.
“AI based solutions are both inevitable and fundamental if we are to advance RCM functionality and efficiencies. AI delivers superior performance by driving intelligent automation and revenue integrity. It is of critical use with issue resolution, and a vital tool in addressing – and correcting – billing errors or collections’ deficiencies,” he remarked.
Other benefits include the role of AI as a gatekeeper in scenarios where there is a lack of qualified RCM staff, or where improper use of technology leads to results in persistent operational inefficiencies across the entire claims process value chain.
“THYNK and CODEMINE are future-proofed solutions for the Kingdom’s rapidly expanding healthcare provider community and are at the vanguard of transformative AI-led innovation. Investment into next-generation tech solutions and widespread adoption by key players in the sector will not only streamline processes and make healthcare more accessible to all, but will raise Saudi Arabia’s profile as a global role model for world-class services and outcomes,” he concluded.
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