L.S Ram, Founder
The U.S. health IT investment in 2017 touched a whopping $7 billion from $2 billion in 2013. The sharp spike in digital health is a clear indication that a historically conservative healthcare sector is finally ushering in the transformational power of technology. After all, digitization has the potential to radically improve healthcare revenue, eliminate cost, and redefine care delivery.
Against this backdrop, helping healthcare organizations ace their digital transformation journey is New Jersey-based Exdion, a provider of state-of-the-art RCM solutions that leverage AI, Machine learning, RPA, analytics, cloud, and mobility, to render future-ready healthcare organizations.
Where Exdion hits a home run is through their perfect blend of domain expertise and technology options. “Oftentimes the solution doesn't lie in heavy lifting new technologies, but in smart rollouts. With seven years of laser-sharp focus we marry the latest in automation technology with the fundamentals of collection principles for best-in-class results,” begins L.S Ram, founder of Exdion.
On those parameters, Exdion is the perfect fit for small practices that shy away from technology implementations due to high upfront costs. Exdion's solutions are Opex oriented, easily implementable, and tailored according to clients’ requirements. For maximum client benefit, the company starts every project with a consulting phase, called the ‘Opportunity Recognition’ stage, where they leverage proprietary frameworks to assess an organization’s maturity. “We then build a case through a powerful ROI matrix before discussing potential solutions that encompass automation of eligibility and benefits verification, improved patient engagement strategies, and full cycle RCM,” explains Ram.
To throw further light on Exdion's unique value proposition, the company completely eliminates manual approach to claims management through a BOT framework that predicts cash flow and accelerates collections at a fraction of what it would cost manually and at five times the speed.
With seven years of laser-sharp focus we marry the latest in automation technology with the fundamentals of collection principles
When it comes to patient experience, Exdion integrates chatbots with scheduling, HIS, and other software applications to provide proactive customer engagement. “Our patient experience solutions are aimed at improving 360 degrees of moments of truth, all the way from patient intake to discharge,” says Ram. Keeping in mind that effective data management plays a significant role in driving operational efficiency and revenue, the company also offers deep analytics and predictive tools for unmatched insights.
A good example of Exdion’s proficiency is when they assisted a leading ophthalmology hospital to enhance their outdated legacy systems. “During the consulting process, we noticed that the hospital had very little control over their claims, the patient pay collections was a clutter, and their billing office costs were on the rise.” Exdion adopted a holistic approach to problem-solving by applying control measures to both the upfront cash flow and post billing activities. They deployed an AR BOT, a robotic process automation to predict and improve front-end collections while actively accelerating insurance collections. The results were visible in a few weeks, as the AR days dropped from 82 days to 49 days. Above all, with the Exdion AR BOT framework, the client could easily manage multiple locations as well as process insurance coverage and eligibility details on time.
A major reason why Exdion has been observing continual success in the market is because unlike other pure play tech shops that move on after implementing and testing a solution, this one-of-kind RCM provider works with clients post-deployment for a few quarters to drive unrivaled change management and adoption.
Moving forward, plans of expanding their presence in the Mid-West and the West are in the pipeline. “We are also actively investing in products that are ready-to-deploy and can help the smaller billing offices see meaningful value through ready-to-adopt automation,” mentions Ram. The future looks extremely promising for Exdion as they steadily make headways in the market with their well thought out solutions and strong technology acumen.