AI has ‘dramatically lowered’ insurance claim rejections, says healthcare group CFO

Résumé détaillé

AI identifies types of claims being rejected by insurance companies, as well as the doctors, specialties and diseases associated with those rejections, says Khaled Ahmed, CFO of Saudi German Health

Insurance rejections rates have dramatically lowered in Saudi German hospitals with the help of artificial intelligence, said its Group CFO.

Khaled Ahmed, Group CFO of Saudi German Health, said its revenue streamline has gone down 3-4 per cent from 5-6 per cent thanks to lower insurance rejection rates. “That's a massive change supported by the AI practice as we speak,” he commented.

The hospital uses AI to mainly focus on revenue cycle management (RPM) which directly impact working capital, including lowering rejection rates from insurance companies and shortening the time it takes to receive a claim.

“Instead of collecting your claim in 90 days with less problems and obstacles, that's going down to 75, sometimes 60,” Ahmed said.

He was speaking at Khaleej Times' eights edition of the New Age Finance & Accounting (NAFA) Summit in Dubai, which brought senior finance leaders from different UAE sectors, including health, tech, logistics, and automotive.

The AI notifies what the insurance companies are rejecting; the type of claim, doctor, specialty, and diseases. “If you are not compliant with such a document, your claim with millions is rejected. And they can keep it there forever until you sort it out. With the AI contribution, this rejection rate is not a problem anymore,” he said.

Also at the event during another panel session, Prateem Sengupta, Partner at independent tax firm Andersen, said companies eligible for the UAE’s corporate tax return must start claim from now if they wish to receive it, adding that they cannot wait until the filing season is over.

The same goes with free zone eligibility, he said, which companies must decide the same year and not wait until after the year has finished.

The Federal Tax Authority extends a 0 per cent corporate tax rate for companies that have a taxable income up to Dh375,000.

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