Ensemble Health Partners, a revenue cycle management (RCM) company for health systems, is set to strengthen its proprietary revenue cycle intelligence platform, EIQ, through an expanded alliance with tech giant Microsoft.
The collaboration aims to ramp up the innovation of EIQ, which utilises Microsoft Azure’s generative AI and machine learning (ML) capabilities.
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Using AI/ML, EIQ enhances automation and intelligence across the full revenue cycle of an organisation.
Over the past ten years, Ensemble said it has contributed over $100m and two million development hours to develop and refine its EIQ platform.
This investment has resulted in eight US patents for its innovative process automation and data exchange features.
EIQ functions as an intelligence engine, consolidating and harmonising over 800 terabytes of data from a multitude of diverse systems.
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By GlobalDataThe insights generated by EIQ are integrated directly into healthcare organisations’ electronic health records (EHR), automating tasks, guiding operator actions, and maintaining the EHR as the definitive source of truth.
Ensemble’s EHR-first strategy maximises the EHR’s functionality by combining it with the expansive scale of data and AI capabilities offered through EIQ.
The company’s primary objectives for generative AI include enhancing efficiency and speed of denial resolution by creating customised appeal letters within seconds, as well as boosting cash collections and overall yield through automation, routing, and account prioritisation.
Ensemble chief technology officer Grant Veazey said: “Our models are informed by thousands of variables and consume billions of transactions. The greater the volume and variety of data, the more complete and valuable models become – providing better and faster insights at the point of decision.
“Our partnership with Microsoft allows us to deploy hundreds of generative AI models quickly and safely to the millions of healthcare transactions we process daily.”
Ensemble, which manages $32bn in annual net patient revenue, was recently in the news for its collaboration with Tower Health.
The alliance will see Ensemble managing Tower Health’s revenue cycle operations, with nearly 675 of the health system’s employees to be rebadged as Ensemble employees.
