New technology and learning solutions will address rising healthcare costs by helping to reduce revenue losses of healthcare providers in the region

November 18, 2019

The UAE’s healthcare costs are rising at a rate of about 13% yearly. Santechture, an innovative company, and Knwbility, a knowledge transfer solutions’ network for Revenue Cycle Management (RCM), have been launched by Pulse Holding, a UAE-based holding company for several healthcare brands. These initiatives will allow healthcare providers (HCPs) to plug revenue gaps and reroute a healthy flow of investment to the industry.

The financial procedure known as revenue cycle management is used by hospitals and clinics to send insurance claim forms for their patients to insurance companies in order to request payment for the patient services rendered. HCPs collaborate closely with insurance providers to guarantee that patients receive the best care possible for their conditions. HCPs must submit the diagnosed condition and any related medical, surgical, or diagnostic procedure along with the appropriate medical codes and the total amount in order to be reimbursed for the service provided to patients. The accuracy of the codes provided in insurance claims is subject to human error and complexity due to the numerous international coding systems, each of which contains roughly 80,000 codes for various diagnoses and procedures.