Lifemed announced a collaboration with EXL (NASDAQ: EXLS) to develop AI-powered automation for healthcare revenue cycle management. The partnership aims to replace traditional rules-based systems with adaptive technology that processes medical, contractual, and financial data in real time.

The solution uses Lifemed's Deepclaim neural network to analyze healthcare providers' historical data, automating compliance checks, optimizing billing codes, and managing denials and appeals before claims reach payers. The technology identifies errors and processes information without human intervention prior to claim submission.

"By integrating intelligence, automation, and real-time insights, we're driving a more efficient, next-generation approach to claims management," said Trevor Jares, vice president of Integrated Revenue Management Solutions at EXL.

Darian Rodriguez, executive vice president of Revenue Cycle Automation at Lifemed, stated the collaboration "represents a major leap in revenue cycle innovation" that shifts operations from reactive error correction to proactive prevention.

According to the companies, the solution delivers 10-25% higher net revenue, reduces accounts receivable days by 30% or more, and decreases related staffing workload by over 80%. The companies are offering a risk-free assessment and 90-day pilot program at no cost.

EXL, headquartered in New York, provides data and AI services across multiple industries including healthcare, banking, and insurance, with approximately 67,000 employees globally. Lifemed develops AI-powered automation technology for healthcare revenue cycle management through its Deepclaim platform.