Care.fi Launches RevNow to Transform Hospital Revenue Management in India
By integrating advanced analytics and automation, the platform ensures precision and efficiency, reducing revenue losses, minimizing claim rejections, and expediting settlements.
Care.fi, India’s leading healthcare-focused fintech startup, has launched RevNow, an advanced AI-powered Revenue Cycle Management (RCM) platform aimed at transforming how hospitals manage insurance claims.
As a comprehensive tool to optimize, visualize, and enhance revenue, RevNow addresses the inefficiencies of traditional claim processing and promises to redefine the financial operations of healthcare institutions across the country.
RevNow offers an end-to-end solution that manages every stage of the insurance claims process, from patient admission to final discharge, and from pre-authorization to claim adjudication and settlement.
By integrating advanced analytics and automation, the platform ensures precision and efficiency, reducing revenue losses, minimizing claim rejections, and expediting settlements.
Addressing Challenges in Healthcare Claims Processing
India’s current healthcare claims management processes are often slow and opaque, involving manual interventions that result in delays and inefficiencies.
RevNow streamlines these workflows, enabling hospitals to improve operational efficiency while enhancing patient experiences.
Patients can now enjoy faster discharge processing times—within just 30 minutes of final bill generation—ensuring minimal waiting periods and an improved care experience.
Sidestepping traditional bottlenecks, RevNow allows hospitals to optimize resource allocation, improve staff efficiency, and significantly lower administrative costs.
Speaking about the launch, Sidak Singh, Co-founder of Care.fi highlighted the impact of this innovation, saying, “We’re on a journey to transform healthcare systems and set businesses up for success. RevNow represents a major leap forward for healthcare institutions looking to optimize their revenue cycles and deliver an efficient, cashless experience for patients. By harnessing AI and automation, we’re addressing long-standing challenges in claims processing and creating streamlined, transparent workflows.”
Key Features
RevNow’s integrated capabilities provide hospitals with real-time updates, seamless workflows, and improved transparency. Its real-time query notification and response system ensures timely updates, reducing delays and errors in the claims process.
The platform’s integrated mailing service simplifies pre-authorization and post-authorization workflows, offering cohesive communication between hospitals and insurers.
Additionally, the real-time cashflow reconciliation feature gives hospitals granular visibility into their financial operations, enabling them to monitor revenue streams at every level.
For hospitals not impaneled with GIPSA or insurance providers, RevNow offers a cashless experience for patients, making healthcare more accessible.
This feature improves patient satisfaction while enabling hospitals to receive settlement funds within three to five days after discharge, ensuring rapid and reliable financial transactions.
Boosting Cashless Services
RevNow is particularly beneficial for non-impaneled hospitals, offering them tools to provide cashless services to patients without requiring insurance tie-ups.
By integrating seamlessly with existing systems such as Hospital Information Systems (HIS), Electronic Health Records (EHR), and billing software, RevNow provides actionable insights into revenue diagnostics. This capability allows hospitals to pinpoint inefficiencies and optimize their financial performance.
Co-founder Vikrant Agrawal highlighted the broader vision behind the platform, saying, “Care.fi has been at the forefront of transforming healthcare financing in India. With RevNow, we’re providing hospitals with a fully integrated, end-to-end cashless claim management system, from admission to discharge. Our solutions have already processed over ₹600 crore in claims, and we’re trusted by 300 hospital partners across the country. With this launch, we aim to add to these numbers and continue introducing innovative products.”
A Financial Operating System for Healthcare Institutions
RevNow serves as a financial operating system (OS) for hospitals, integrating features such as single-window claims processing, revenue diagnostics, and end-to-end cash flow management.
These capabilities empower healthcare institutions to manage their revenue cycles more effectively, ensuring sustainability and enabling growth.
When combined with Care.fi’s existing solutions such as CareCred, which addresses working capital challenges, RevNow becomes an indispensable tool for hospitals looking to expand their operations.
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