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RAAPID on Why Healthcare Payers Should Invest in the Right Tools and People

Healthcare administration professionals know the importance of hiring quality personnel and utilizing key technologies to ensure efficiency. When it comes to the latter, industry-pioneer RAAPID has highlighted the need for AI-driven tools for both healthcare institutions and insurance companies as they attempt to achieve accurate patient risk scores within optimal timeframes.

Platforms such as RAAPID, the world’s first personalized AI assistant for risk capture, leverage AI technology to help medical coders improve the delivery and accuracy of risk scores. While most coders are familiar with traditional toolkits, newer platforms such as RAAPID are able to utilize Natural Language Processing (NLP) technology to read charts and automatically suggest risk adjustment-relevant codes in a fraction of the time that a human could complete said task.

Such platforms have become essential in the modern era, especially as value-based healthcare delivery models have begun to surge in popularity. Within these models, healthcare providers are rewarded for helping patients improve health, reduce the effects and frequency of chronic diseases, and live healthier lives. This system differs from the traditional fee-for-service model, in which providers are paid based on the volume of services they deliver over a given period of time.

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Because patient outcomes are prioritized as the primary performance metric for providers within value-based models, the accuracy of risk adjustment assessments is suddenly exponentially more important to institutions and insurance companies than they ever were before in the history of the American healthcare industry. Simply put, insurance companies and healthcare institutions need to choose risk capture vendors that are both technologically advanced and reactive to industry trends.

Backed by a team with decades of industry experience, a global perspective, and a passion for change, RAAPID is reimagining risk adjustment for healthcare, insurance, and technology businesses by allowing them to gain holistic pictures of patient populations. Capable of servicing institutions of all sizes, the platform automatically assesses and addresses organizations’ retrospective risk adjustment needs, freeing them from the time-consuming and expensive chart audits and unstructured text data retrieval processes.

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