Both organizations bring strengths in process strategy and technology to improve revenue cycle management to create value for the healthcare industry.SEATTLE, WASHINGTON, UNITED STATES, October 20, 2020 /EINPresswire.com/ -- KenSci, an AI-based platform for healthcare, and Brown Smith Wallace (BSW), a top 100, full-service CPA and business advisory firm, today announced a strategic partnership designed to drive business process transformation for healthcare businesses. The two companies will fuse their collective expertise in advanced artificial intelligence and business performance to improve revenue cycle management for hospitals, healthcare systems, provider groups and others.
“COVID-19 has created unique challenges for healthcare revenue cycle and financial operations, driving the need for analytics and AI-assisted revenue management,” commented Sunny Neogi, chief growth officer at KenSci. “We are delighted to combine forces with BSW to enable health systems bring analytics and AI insights to their revenue cycle workflows, accelerating the transformation of healthcare processes and addressing the perpetual need for revenue recovery.”
According to the American Hospital Association, U.S. hospitals are expected to lose more than $323 billion this year due to the pandemic. Health systems have pivoted to create capacity to treat critically ill patients while reducing or suspending elective medical procedures, non-elective surgeries, outpatient treatment and emergency department services. This focus on COVID-19 patients, combined with the loss of other revenue streams, has put additional pressure on already strained healthcare systems.
This new partnership aims to integrate the superior capabilities of KenSci’s AI Platform for Digital Health, BSW’s process strategy expertise, and both organizations’ healthcare industry knowhow to create efficiencies that increase revenue and improve profitability. The combined solution will enable health systems to manage risk across their operations with predictive solutions in areas such as:
• First payment and days in A/R
• Fraud, waste and abuse
• Suspect diagnosis and medical coding
• Estimating patient liability
“The disruption that COVID-19 has created within the economy has been especially acute in the healthcare industry,” says David Contrera, principal, Advisory Services at Brown Smith Wallace. “The pandemic has accelerated the need to transform and exacerbated the challenges associated with legacy processes. Our partnership brings together cutting-edge technology and proven process strategy to help health systems maximize revenue opportunities today and prepare for more efficient and profitable growth in the future.”
KenSci's AI Platform for Digital Health enables healthcare organizations bring analytics and artificial intelligence at the core of their operational, clinical and care workflows, improving care experience and health outcomes. KenSci accelerates business transformation for health providers, payors, medical device and other healthcare organizations, delivering mission critical insights in real-time to improve care quality while reducing healthcare costs. With KenSci's AI Platform that integrates latest descriptive and predictive analytics technology, health organizations can rapidly develop, deploy and manage analytics and AI use-cases to modernize their workflows and power a digital, data-driven, value-based healthcare system. By making AI use in health systems more explainable, interpretable and assistive, KenSci is helping healthcare become more efficient and accountable.
KenSci was incubated at University of Washington's Center for Data Science at UW Tacoma and designed on the cloud with help from Microsoft's Azure4Research grant program. KenSci is headquartered in Seattle, with offices in Singapore and Hyderabad. For more information, visit www.kensci.com
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