New Delhi (India), August 17: Kalpesh Soni, Founder, and CEO of Revesolv – a medical and dental RCM company, launched RAIO, a Medical Accounting and Reporting Software that will be targeting the US$ 11.1 Bn Medical Billing & RCM market in the UNITED STATES only.
As of now, RAIO is available for existing clientele of Revesolv only for strategic reasons, Kalpesh Soni explained. Furthermore, describing the software, he said “RAIO” is one of the first software that helps dental and medical practices track insurance payments usually missed by the front desk. We give an edge to our clients by providing an exact figure of payments that are received, to be received, and not yet received.”
On this occasion, Kalpesh Soni said, “The Medical and Dental billing Industry in the USA specifically is estimated at US$ 11.1 Bn in 2021 and is anticipated to grow at a CAGR of 16% from 2022-2032. Indian Startups can account for almost half of it by providing only IT consulting & RCM services. India has huge upside potential with this growing Industry that most founders overlook” he further went on to say, “The global Healthcare IT market was valued at USD 250,577.15 Million in 2020 and is projected to reach USD 880,688.75 Million by 2030, registering a CAGR of 13.3% from 2021 to 2030 our next target is going Global.”
Kalpesh Soni has been in the medical and dental billing industry for the last 12 years and, at the age of 32, only accounts for a huge chunk of revenue generated by Indian IT companies in the US healthcare sector. On being asked about scaling, Kalpesh pointed out that “We have our HQ in Ahmedabad, Branche offices in Vadodara & Mumbai India. Our On-site office is at Pennsylvania, USA”. We are already profitable and sustainable, and we can assume from here onwards we are only but to grow exponentially.”
Kalpesh Stated, “This will provide the finest results for billing firms, with no mistakes”.
RAIO incorporated practically all the billing work, such as Tracking Charges, Account Receivables, Clearing House Rejection, Denials, and Payment posting.
You can assign/reassign and unassign any job from one to several people with the press of a button, eliminating the need to prepare an excel spreadsheet.
RAIO has been created to measure the daily work productivity of the organization so that employees and employee gets in synch. Details of work executed are shared with Provider Offices daily by the end of the Day.
Follow-up reminder for outstanding work is also automated in RAIO. Our scheduled system gives a reminder email to staff and practices about the work in their queue in a periodic manner.
RAIO is developed to keep more focused on automation and robotics so that the skill full manpower of the Healthcare industry can be utilized with the best of their intelligence and capabilities. Instead of the more traditional work functions, all current billing companies are adopting the sense of work functions and execution.
In the near future, we are planning to deploy more automation in RAIO to reduce unnecessary human intervention and avoid human errors, allowing the organizations to properly utilize their skilled human resources in a better and proper direction in the Healthcare Industry.
Our secure platform provides you with total confidence in the security of PHI (Patient Health Information) under your control. Instead of sharing any PHI over an unsecured email. Through RAIO, it can be shared with practice and internally in just a few clicks with full security.
Our hosting servers are outfitted with numerous backup levels, ensuring that data loss is never a possibility for anyone.
Kalpesh Soni with his companies Revesolv and RAIO is another story of an Indian Founder Making it big in the US IT sector and we can only assume there are more to come. This will give the best outcome to billing companies with no errors.
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Vaishnavi Prakash
