LOUISVILLE, Ky., February 4, 2023 (Newswire.com) – Healthcare AI-powered Risk Adjustment technology and services company achieves significant milestones in its first year.
Celebrating its first anniversary, RAAPID sees a bright future for its Risk Adjustment solutions based on what they have accomplished in year one. Despite spending far more on healthcare than other nations, the US lags behind in many key health measures, including life expectancy, accessibility, and value for service. Higher cost does not equate to higher quality and acceptance and adoption of sustainable, unique, and customized AI-driven solutions for Medicare Advantage Organizations, and healthcare providers continue to grow, and RAAPID is at the forefront of building new and dynamic solutions for their customers around the globe.
Launched in February 2022, RAAPID, the personalized AI assistant for risk capture, is providing healthcare payers, medical coding service organizations, providers, and facilitators across the United States with access to the most powerful risk adjustment platform on the market. RAAPID’s solutions give payers, providers, coders, and hospital executives the opportunity to accurately structure key data points to effectively determine patient risk scores and calculate premium totals.
Raapid.ai has developed its state-of-the-art NLP (Natural Language Processing) technology that runs on top of Deep Learning algorithms. RAAPID ‘s patented technology has been trained across millions of real clinical charts and delivers accurate outcomes. This AI-powered Risk Adjustment Software ensures you don’t miss out on HCC codes or RAF scoring opportunities while ensuring compliance by removing unsubstantiated codes. RAAPID combines the latest advances in machine learning, AI, natural language processing, data science, and data engineering with deep clinical and biomedical expertise.
Talking about the long history of the foundation of RAAPID:
RAAPID is Chetan Parikh’s latest venture, a modern natural language processing (NLP) powered, AI-driven risk adjustment solution.
“Our mission at RAAPID is to support the healthcare ecosystem so that doctors and clinicians can provide the highest level of care to their patients. We are committed to developing and deploying advanced healthcare AI technologies that empower healthcare workers to deliver affordable care with empathy and make a positive impact on their lives. Our goal is to make human activities more meaningful” Affirms Chetan.
Reminiscing on the Past
“There are lessons to be learned from the past and I think for RAAPID, it comes down to two things. First, dream big! We had big dreams when we started RAAPID. We made these dreams come true by turning them into goals and actionable strategies. What we have achieved is far beyond the wildest dreams we had at the start of this journey.
Second, believe in your dreams passionately, show resilience, learn from your mistakes, and get backup when you get knocked down: the power of passion and perseverance!” recalls Chetan
Casting the Future:
This year, RAAPID is entering a new phase with AI-Driven personalized solutions for healthcare providers. We are creating new technology innovations transforming our engineering and product lines to improve customer experience with a commitment to continuing to deliver value with speed and accuracy.
Through leveraging its innovative deep Knowledge Graph-based Natural Language Processing (NLP) technology, RAAPID reads charts just like any human coder would do, and automatically suggests risk adjustment-relevant codes, eliminating inefficiencies and inaccuracies in the process. By streamlining manual coding workflows through the platform, users can expect significant improvements in hierarchical condition category (HCC) Coding and risk adjustment factor (RAF) scores, RAAPID offers
the most efficient risk adjustment workflow automation capabilities available today.
The Way Forward
RAAPID’s vision is to become the world’s leading technology provider of customizable risk adjustment products for value-based healthcare organizations. The goal of the organization for the next five years is to make its SaaS and API offerings accessible to all healthcare payers, providers, and medical coders for better data accuracy, proper on-time risk score derivation, and most importantly, achieve value-based care.
“RAAPID, today is a burgeoning organization in the Risk Adjustment space. Our esteemed customers recognize the differentiated value we bring to them in terms of superior service delivery, innovative solutions, and responsiveness to their needs. They also recognize our contribution to the healthcare industry.
We need to continue to build on their trust and demonstrate clear actions. The overall market will continue to get more competitive, and we absolutely need to continuously improve to stay ahead of the competition and achieve our goals. We have established an incredibly talented group of SMEs (Subject Matter Experts), Engineers, Data Scientists, Medical Coders, and Advisors to ensure we are at the right speed in terms of technology adoption and implementation.
Saying that, our core values – Integrity, commitment, and transparency remain the guiding principles for everything we do, and I would like to continue with this as the major driving force for RAAPID as an organization.”