Veuu, a cutting-edge healthcare FinTech, has unveiled a strategic partnership with Wipro Limited, a leading technology services and consulting company, to bridge the gap between providers and payers by transforming the payment process with an AI-powered instant payments platform. This collaboration marks a significant alliance in the healthcare sector, delivering essential improvements to claims payments within the industry.
By introducing instant payments, Veuu is transforming the healthcare payment process through immediate reimbursement for providers. This approach eliminates outstanding debt for providers while significantly lowering costs for payers as well as reducing instances of fraud.
Veuu acts as a bridge between providers and payers, offering instant payment to providers and physicians at negotiated rates. This immediate access to operating capital eliminates the lengthy wait—often weeks or months—for reimbursement from insurance payers. Leveraging advanced AI technology, Veuu evaluates and minimizes the risks associated with claims by accurately predicting denials and payment outcomes. Within milliseconds of submission, Veuu can inform providers whether a claim is approved for payment or rejected, along with the specific reason for rejection. This not only saves providers significant time and resources but also enables Veuu to submit cleaner, more accurate claim portfolios to insurance companies, reducing the costs associated with manual reviews.
Catch more Fintech Insights : Global FinTech Interview with Steve Cover, CTO, iPipeline
Once risk approved, Veuu’s payments platform enables efficient fund transfers from payers at reduced rates, further optimizing the payments process and lowering costs for payers.
Terence Mills, the CEO and Chief AI Architect of Veuu said, “Receiving timely payments has always been an issue faced by providers and can cause disruption to operating capital when delayed. Together with Wipro, we can ensure that providers receive payments instantly while also offering cost reductions to payers.”
Together, Veuu and Wipro are strategically positioned to disrupt the market. Veuu’s AI powered offering delivers a targeted solution for instant payments in healthcare, which customers, who rely on Wipro’s diverse healthcare data management and revenue cycle solutions, can effectively utilize.
Nani Iyer, Vice President & Sector Growth Leader, Healthcare at Wipro Limited, echoed the sentiment of collaboration, saying, “We are excited to partner with Veuu to deploy our Provider in a Box solution, that includes Veuu’s AI-enabled instant payments platform alongside our comprehensive IT and Provider Operations Transformation expertise to deliver immediate cash-flow relief, reduce overall healthcare costs, and improve the quality of care.”
Read More on Fintech : Global Fintech Series Interview with Tate Hackert, President and Co-founder of ZayZoon
[To share your insights with us, please write to psen@itechseries.com ]
