Innobot Health deploys custom AI and Robotic Process Automation (RPA) solutions across healthcare organizations to enhance profitability. The platform automates complex workflows in Revenue Cycle Management (RCM), including eligibility verification, payment posting, and claims processing. This targeted automation reduces manual effort, minimizes claim denials, and improves operational efficiency without requiring changes to existing EHR systems.
Funding
Funding not disclosed
Founders
Product
Problem
Healthcare organizations face challenges in managing revenue cycle tasks such as claims processing, eligibility verification, and payment posting, leading to manual workloads and operational inefficiencies. These inefficiencies can negatively impact profitability and divert resources away from patient care.
Solution
Innobot Health offers AI-driven automation solutions designed to streamline revenue cycle management (RCM) processes for healthcare organizations. The platform automates tasks such as claims scrubbing, eligibility checks, prior authorizations, and payment posting, integrating with existing EHR and practice management systems. By automating these processes, Innobot reduces manual effort, minimizes claim denials, and accelerates payment cycles. The system also provides customizable KPI dashboards and visual reports, offering insights into key performance metrics like days in accounts receivable (AR) and denial trends.
Target Audience
Innobot Health primarily serves hospitals, ambulatory surgery centers, and RCM companies seeking to improve operational efficiency and profitability through automation.
Features
- AI-powered automation of claims processing, including primary and secondary claims, and coordination of benefits
- Automated eligibility verification for commercial and Medicaid payers
- Robotic Process Automation (RPA) for tasks such as payment posting, denial handling, and appeals
- Custom KPI dashboards with data visualization for monitoring revenue cycle performance
- Integration with existing EHR and practice management systems without requiring extensive integration
- Automated generation of reports for month-end reporting, including denial trending and waterfall cash reports
- Capabilities for denial recovery, adjustments, and revenue reporting and reconciliation