Raleigh, NC — August 10, 2018 — Leading healthcare payment integrity innovator WhiteHatAI today announced four major events: the launch of the commercial WhiteHatAI Centaur System, new Corporate headquarters, a new development center, and the re-launch of the company’s website.
Fraudulent and inaccurate healthcare claims cost insurance payers up to $650 billion annually. Prompt payment regulations, some requiring payment in days and can include substantial fines, prevent payers ability to fully review claims for fraud, waste and abuse. And a shortage of trained medical professionals to handle the millions of claims submitted per day makes it all but impossible to review more than a small percentage of claims before they are required to be paid. This produces a post-payment collection scenario where payers are forced recover incorrect payments after they have already been paid.
WhiteHatAI Centaur’s software platform changes all that. The advanced AI fraud-detection system enables healthcare payers to look at every claim and every line pre-payment. Prepayment review helps eliminate costly and problematic “pay and chase” scenarios that are typical in the healthcare billing and payment industry.
Pete Ransome, CEO of WhiteHatAI, said:
“Artificial Intelligence technology has allowed for incredible innovation across the business world. With the launch of our AI solution for fraud, waste and abuse, the Centaur System, WhiteHatAI now provides an easy to deploy payment integrity auditing platform that reduces FWA in Healthcare Payments while multiplying an organization’s ability to review a substantially higher number of medical claims with existing personnel. At the same time that we are launching the commercial version of the WhiteHatAI Centaur for medical claims, are also releasing a powerful version of the Centaur that is concentrated on the fight against the Opioid fraud and abuse”.
WhiteHatAI Centaur is a forensic tool that uses state of art Artificial Intelligence to identify and analyze fraud, waste and abuse in healthcare claims and transactions. The system can be used as a standalone product or integrated into a payer’s existing data infrastructure.
The system’s deep learning works with trained healthcare professionals and organizations to analyze huge volumes of claim payment information. The Centaur learns from interaction with trained professionals and verified claims data. It uses these interactions and data to independently improve its ability to accurately pinpoint issues and eventually begins forming its own conclusions. This independent learning and application augments the review process while uncovering previously unknown patterns of fraud and abuse.
Secondly, WhiteHatAI is excited to announce new development headquarters in Raleigh, North Carolina. The City of Raleigh, which boasts a long history of fostering business innovation, is fast emerging as a leading hub for tech entrepreneurship. The headquarters will be based at ‘HQ Raleigh’, which features an inspiring work environment for innovative brands.
The success of Raleigh’s growth as a technology hub and the presence of one of the most well-educated tech talent pools in the country, made it an easy decision to locate WhiteHatAI’s new development center and Corporate headquarters to the area.
The launch of WhiteHatAI Centaur, along with the new HQ and new development center coincides with the re-launch of the company’s website. The newly revamped site offers an improved user interface, easy access to essential information about the Centaur System, and a more comprehensive understanding of the technology behind it. The website also features enhanced rich content that will continue to focus on the company’s longstanding dedication to healthcare payment integrity.
Each of these exciting developments will help WhiteHatAI in their overall mission to change the medical billing industry for the better through innovation and the use of powerful Artificial Intelligence technology to detect and eliminate medical claims overpayments.
WhiteHatAI is a leading innovator in AI cognitive application solutions for the healthcare industry. Poised to change the medical billing and payment industry, WhiteHatAI’s Centaur platform improves medical insurance providers financial results by targeting fraud, waste and abuse in healthcare claims through the use of advanced pre-payment Artificial intelligence.
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Learn how the Centaur System from WhiteHatAI can remove fraud,waste and abuse from your revenue cycle.