AKASA Launches Authorization Advisor, First in a Suite of Generative AI Assistants To Optimize Revenue Cycle for Healthcare Providers

First GenAI assistant from AKASA — Authorization Advisor — cuts time spent on prior authorization by up to 50%.

For the first time, AKASA puts clinically trained generative AI technology directly into the hands of revenue cycle teams.

SOUTH SAN FRANCISCO, Calif., March 14, 2024 /PRNewswire/ -- AKASA, the preeminent provider of generative AI (GenAI) solutions for the revenue cycle, today launched the first in a suite of AI assistants focused on optimizing revenue cycle management for healthcare providers. Authorization Advisor^TM is a new GenAI tool that helps prior authorization specialists efficiently and comprehensively complete authorization submissions. In addition, it supports any payer portal or service line and most electronic health record (EHR) systems. With Authorization Advisor, revenue cycle teams can now reduce the time spent on prior authorization by up to 50% and submit more thorough authorizations by finding 15% more relevant clinical documents.

AKASA's unique approach is to develop a health system–specific AI model by training on that organization's own clinical and financial data. The company's solutions, including Authorization Advisor, are powered by these tailored models and are able to deeply understand a health system's specific nuances. AKASA's models are already outperforming the top generic versions (like GPT-4 from OpenAI) — for example, they are 38% more accurate when it comes to correctly selecting prior authorization documents.

Prior authorization is the second most time-consuming part of the revenue cycle. Authorization Advisor is infusing GenAI capabilities to address this burden. It provides prior authorization specialists — from entry-level to veteran — with an interactive sidebar view of patient details and curated clinical documentation from the EHR, all directly in their workflow while they are on a payer portal.

Authorization Advisor enables patient access teams to fill in information on the payer portal securely and accurately. This GenAI assistant also empowers staff to easily attach AI-recommended relevant clinical documentation (with evidence for the recommendations) as part of the authorization submission. It eliminates the need to hunt for and read vast amounts of supporting documentation manually, and it aids in the accuracy of prior authorization submissions.

"Many of the challenges in healthcare involve the massive amount of unstructured clinical data," said Varun Ganapathi, Ph.D., chief technology officer and co-founder of AKASA. "Generative AI allows us to talk to our data and receive useful digestible answers with explanations."

"Health systems are burdened with enormous administrative complexity that can now be addressed by generative AI," said Malinka Walaliyadde, CEO and co-founder of AKASA. "We have identified the most painful parts of the revenue cycle, and are systematically tackling them with a suite of GenAI assistants. AKASA has made significant investments in developing these products alongside our customers. I'm delighted to finally talk about our work and introduce Authorization Advisor as the first of these products."

"Healthcare leaders are constantly trying to move any dial we can to have a positive impact on our people, processes, and patients," said John Fox, former president and CEO of Emory and Beaumont Health, and advisor at AKASA. "AKASA is innovating in healthcare with these new generative AI tools. They're at the right place at the right time to truly transform the revenue cycle by reducing friction and providing real results."

Building on this news, AKASA will also be co-hosting a webinar on Wednesday, April 17, that explores the role generative AI can play in providers' revenue cycle processes. For more information about the company's GenAI work and its latest product, Authorization Advisor, please visit: https://akasa.com/authadvisor.

About AKASA

AKASA is the preeminent provider of generative AI solutions for the healthcare revenue cycle. Our offerings are built on the AKASA platform, which integrates the company's proprietary generative AI technology and deep revenue cycle expertise to deliver exceptional impact for hospitals, health systems, and the patients they serve. AKASA is the only AI company whose technology is trained on a health system's own clinical data, enabling AI to better understand the specific nuances of a health system. AKASA helps healthcare organizations improve revenue outcomes, achieve greater efficiency, empower staff, and allocate resources where they matter most. To learn more, visit AKASA.com and LinkedIn.

SOURCE AKASA