MLE Enterprise Software LLC (“MLES”), headquartered in Boca Raton, Florida has developed an end to end Software as a Service (“SaaS”) portal for Revenue Cycle Management (RCM). Incorporated into the portal architecture is a data lake/data warehouse structure that utilizes Big Data and AI, as well as robotic process automation (RPA), to reduce administrative costs, increase reimbursement/collections, and provide enhanced data analytics to foster better management decision making.
As a result of regulation, increased complexity in the healthcare ecosystem, as well as changes in the payor marketplace, administrative costs to collect payment for services have skyrocketed, and reimbursements for services have diminished. The healthcare Industry currently represents 18% of total US GDP on its way to 20% by 2025. This translates into an approximately $3.5 trillion segment. Healthcare is now the largest employer in the US in 2018. There has been an explosion in administrative functions, while there is a shortage in physicians and nurses — which at the current rate is likely to only get worse.