ElectrifAi, one of the world’s leading companies in practical artificial intelligence (AI) and pre-built machine learning (ML) models, announced its collaboration with St. Barnabas Hospital, the flagship of the SBH Health System, a teaching institution caring for an underserved population in the Bronx.
The collaboration will rapidly bring SBH operational efficiencies, cost savings, spending control, increased revenue and risk reduction. SBH will leverage ElectrifAi’s pre-built machine learning models for spend, contract, revenue capture, claim denials, patient engagement and leakage, and many other applications.
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SBH can now leverage vendor terms, uncover inappropriate charges, missed discounts and additional findings by transforming contracts into a strategic digital asset. SBH will receive detailed views of spend by doctor, physicians group, facility and other fields as discovered through spend analytics from various data sources. SBH will also be able to audit identified missed charges for billing and re-bill opportunities by uncovering missed charges from a vendor’s revenue cycle management system.
ElectrifAi’s 17 years of practical machine learning expertise with spend analytics, contract management, customer/patient engagement and machine learning models devoted to patient claims denials can help optimize and improve the operations of SBH and make SBH the trailblazer of the greater Tri-State medical community.
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“For years, our customers in financial services, telecom and retail have improved their business processes though our practical machine learning technology. Now our clients in healthcare are benefitting from our integrated pre-built machine learning models tailored to the business of running hospital systems more cost-effectively,” said Ed Scott, CEO of ElectrifAi. “Now, SBH Health System and its peers can accelerate implementation of machine learning to drive revenue uplift, reduce costs, increase profit and improve general performance amid a fast-changing business environment. We are thrilled about our collaboration with SBH,” Scott added.
“We are very excited about our collaboration with ElectrifAi. The challenges of running a hospital system efficiently in today’s fast-paced world can be daunting; but through the help of ElectrifAi’s leading-edge practical machine learning models, we look forward to rapidly implementing operational efficiencies that will help us keep pace and continue to serve our patients and community at the highest levels,” says Dr. Eric Appelbaum, Chief Medical Officer of SBH.
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