MOUNTAIN VIEW, Calif. -- State Collection Service (State), a leading healthcare revenue cycle outsourcer, partnered with Prodigal Technologies, Inc., to substantially increase operational efficiencies with artificial intelligence and automation.
"Prodigal has an impressive automation platform that offers a positive ROI instantly. We are excited to increase our AI capabilities at State with Prodigal," said Tim Haag, president of State.
The collections industry is heavily regulated,
and the healthcare revenue cycle process is highly complex with multiple layers
of operations. Standard processes are very labor-intensive which results in costly
and ineffective operations.
One example of inefficiency is the after-call wrap-up process. On average, representatives spend approximately 25% of their day in wrap-up, which is the time spent summarizing one call and getting ready for the next. Over a year, this translates to a staggering cost of $10,000 per representative.
State recognized the need to
challenge these operational inefficiencies and implemented Prodigal's ProNotes,
its first note automation AI system. State immediately saw a decline in the time
spent on after-call workflows as well as a corresponding increase in agents’ in-call
time by 10-15%. ProNotes helped State save significant hours of manual
note-taking as well as improved calls with the help of structured notes and
conversational insights. As a result of fewer manual and repetitive tasks, State
observed deeper engagement between representatives and patients.
Sameer Maini, chief information officer of State says, "We're excited to onboard Prodigal as part of our modern tech stack. Prodigal's real-time AI has increased the in-call time for our representatives. This enables our knowledgeable and empathetic representatives to provide even better customer service to healthcare providers and their patients."
Without the use of proper technology, it’s difficult to achieve optimal productivity, efficient and cost-effective revenue cycle operations. Prodigal is bringing artificial intelligence and machine learning capabilities to the industry with its new suite of intelligent tools. Prodigal’s tools enable lenders, debt buyers, healthcare revenue cycle outsourcers and ARM agencies to resolve accounts receivables quickly and efficiently.
“State is a technology-forward agency and we are excited to deliver a measurable boost to their operational efficiency with our cutting-edge business intelligence platform,” said Shantanu Gangal, chief executive officer of Prodigal Technologies Inc.
Prodigal is disrupting the loan servicing and receivables management industry with its stack of technologies that delivers up to 30% improvements in productivity and operational efficiency. By leveraging Prodigal’s artificial intelligence and machine learning, the receivables management industry uncovers actionable insights for maximizing revenue, optimizing operations, and minimizing compliance risk. To learn more visit: www.prodigaltech.com
State improves the financial picture for healthcare providers by delivering increased financial results while ensuring a positive patient experience. Rooted in a tradition of ethics, integrity and innovation since 1949, State uses data analytics to drive performance and speech analytics with ongoing training to ensure patient satisfaction. A family-owned company now in its third generation of leadership, State assists healthcare organizations with services spanning the complete revenue cycle including Pre-Service Financial Clearance, Early Out Self-Pay Resolution, Insurance Follow-Up and Bad Debt Collection. To learn more visit: www.statecollectionservice.com.