Dexios Sees Success in Capturing Charges on the Front-end That Would Cause Denials on the Backend
Maverick Medical AI, or Maverick, a provider of an innovative and autonomous AI-powered medical coding platform, and Dexios, a radiology-specific revenue-cycle management (RCM) company serving imaging centers and hospital-based radiologists across the U.S., release data from their ongoing partnership to streamline healthcare billing. Through this collaboration, Maverick and Dexios were able to reduce coding related denials and significantly reduce medical coding queue backlogs by 71 percent.
As healthcare providers across the U.S. endure the burden caused by a shortage of medical coders, Dexios sought out a solution to accurately automate the coding process and reduce coding related denials. This fostered a partnership with Maverick Medical AI in late 2023 when Dexios deployed Maverick’s platform to optimize the billing process by automating the rigorous medical coding process.
Dexios’s transition to a fully automated coding solution has augmented its entire RCM operation, which serves numerous radiology clinics, imaging centers, and hospitals across 16 states. With the data indicating widespread success from integrating the Autonomous Medical Coding Platform, the results from six key metrics include:
- Capturing charges on the front-end: Reducing denials on the backend
- Reduction of 71 percent in coding queue backlog: Saving multiple days of work in the billing cycle.
- Reduction of 50 percent in denials at a single site.
- Successfully applied and reviewed 100 percent of front-end CPTs (current procedural terminology) requiring MIPS (merit-based incentive payment system) codes enabling Dexios’s clients to seamlessly accommodate Medicare beneficiaries.
- Reduction of 58 percent in FTE (full-time equivalent): Enables Dexios more staff flexibility, productivity, and better allocation of company resources.
- Over 85 percent direct-to-bill rate
Maverick’s Autonomous Medical Coding Platform combines extensive domain knowledge of medical coding with cutting-edge machine learning and generative AI. The AI engine autonomously analyzes clinical notes and reports, accurately generating reimbursement codes (ICD-10, CPT) in real-time and allowing for charges to be available to billing systems within seconds with no human involvement. Maverick’s generative AI model, which learns from the collection of real-time feedback from auditors and medical coders, results in consistently compliant coding and industry-leading direct-to-bill rates approaching 85 percent, as seen from Dexios’s data.
“We are pleased, yet not surprised, to see such positive results from this partnership as Maverick’s technology is designed to allow for a streamlined process, enabling high direct-to-bill rate as demonstrated by Dexios,” says Yossi Shahak, CEO and Founder of Maverick Medical AI. “This proprietary technology puts Maverick in a category of its own in terms of value proposition for the customer. As a leading RCM company, we couldn’t have worked with a stronger and more determined team. We look forward to continuing this progress and providing value for Dexios’s clients.”
“For healthcare organizations, patients, and insurance providers, drastically reducing denials is in the best interest of all these parties”, says Billie Artcliff of Dexios. “This is essentially what drove us to team up with Maverick in the first place. After quickly implementing Maverick’s Autonomous Medical Coding Platform we’ve witnessed unprecedented results. We have implemented processes to reduce denials, review charges prior to coding that would normally be denied when sent to insurance and a direct-to-bill rate of over 85 percent. Maverick’s solution has been a game-changer, streamlining the medical coding process and radically enhancing productivity. Its impact has drastically improved our entire operation.”
About Maverick Medical AI:
Maverick Medical AI streamlines medical coding for healthcare providers, including imaging centers and hospitals, by automating the process with its personalized Autonomous Medical Coding Platform, leading to decreased operational expenses, reduced denials, and increased direct-to-bill percentage. Its proprietary deep learning generative AI models and synthetic data generation capabilities set it apart from the competition as the go-to solution for any medical coding needs. For more information, visit: www.maverick-ai.com/
About Dexios:
Dexios is an award-winning radiology billing company that delivers customized solutions to optimize its clients' billing processes and revenue. Dexios' founder envisioned a better billing company focused solely on providing expert help to radiology practices, and Dexios has been a leader in this industry for over a decade. Dexios’ goal is to apply the same care, respect, and diligence to billing our client’s patients as they do to their diagnostic and interventional imaging services. For more information, visit: https://www.dexioscorp.com/
View source version on businesswire.com: https://www.businesswire.com/news/home/20240430836406/en/
Media Contact
Inbar Kneller
ReBlonde for Maverick Medical AI
[email protected]
Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.