The Seattle-based startup has been honored for innovation in artificial intelligence addressing long-standing inefficiencies in healthcare revenue cycle management.

Outbound AI wins Healthcare AI Impact Award 2024 for successfully eliminating human-intensive administrative work

Joy Efron, Principal
Kibit Marketing
joy@kibitmarketing.com

Outbound AI is among the winners of this year’s Healthcare AI Impact Awards, a program designed to spotlight companies “that are not just keeping with the pace of change, but are leading it,” and “making a real impact by leveraging AI to drive innovation across the healthcare sector.”

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Founded in 2021, Outbound AI has quickly gained a reputation for breaking boundaries in the use of voice AI to reduce time, effort and costs associated with human-intensive administrative work. The company’s initial solution suite focuses on payer-provider communications and is purpose-built to eliminate many of the phone calls, portal queries, faxes and document exchanges that consume medical billing teams.

“About 70% of claims-related transactions are handled quite effectively by existing technologies and infrastructure, but 30% are subject to some sort of ‘exception,’ and that 30% costs the industry hundreds of billions of dollars a year,” says Stead Burwell, Founder and CEO of Outbound AI. “This is a huge burden for any and all organizations involved in medical billing, whether that’s a revenue cycle company providing services to provider groups or whether that’s the provider groups themselves. Our mission is to tackle as much of that 30% as possible.”

Outbound AI serves a wide variety of mid-market and enterprise customers. The company’s robust Applied AI platform, software-as-a-service, AI Agents, and data connectors have proven highly effective in helping reduce administrative overhead within the revenue cycle, achieving cost savings up to 10x and speed gains up to 100x.

“We’ve recently added Human Conversation Agents that talk directly with payer reps,” says Burwell. “These AI Agents are able to do the very same work as their human counterparts, including initiating calls, navigating IVR systems, waiting on hold, and engaging in live conversations. They also take notes and draft narrative summaries with a level of acumen comparable to the most experienced billing team members. Importantly, they do all of this in a scalable and efficient manner and at far less cost.”

Customers can look to Outbound AI to support claim status inquiries, explanation of benefits (EOB) requests, eligibility verifications, and more.

For additional information on Outbound AI, visit https://outbound.ai/.

For additional information on the Healthcare AI Impact Awards, visit https://www.modernleader.io/healthcare-awards.

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