Judges highlighted the AI-powered revenue cycle management (RCM) platform's ability to reduce denials and the associated revenue leakage while maintaining billing compliance and enhancing operational efficiency.
WELLESLEY, MA / ACCESS Newswire / April 23, 2025 / MDaudit, an award-winning cloud-based continuous risk monitoring platform for RCM that enables the nation's premier healthcare organizations to minimize billing risks and maximize revenues, has been named a winner in The 2025 FinTech Awards program. The company earned top honors in the healthcare and pharmaceutical category for its AI-powered platform, which features innovative tools like AI Assist and Smartscan.ai to help healthcare organizations fight for every dollar of reimbursement they are owed.
"MDaudit's AI-powered revenue cycle management solutions help healthcare providers recover lost income, minimize denials, and maintain compliance, all while increasing operational efficiency and bottom-line results. By automating audits and improving billing accuracy, MDaudit proactively detects issues in coding and reimbursement processes, leading to faster payments and fewer rejected claims. The FinTech Awards are proud to recognize MDaudit as the winner of Best FinTech Solution for Healthcare and Pharmaceuticals, honoring a platform that saves millions in lost income and delivers measurable impact through powerful analytics and automation," wrote Shiva Kumar Vuppalasenior of Corpay, Inc., one of the FinTech Award judges.
The FinTech Awards
Operated by The Cloud Awards, The FinTech Awards is a global awards program recognizing the most outstanding innovations in financial technology. The program covers solutions used to support financial processes-such as accounting and payroll-and within specific sectors including retail, events, and healthcare. Uses within financial institutions and groundbreaking applications in areas such as SaaS and international functionality are also recognized. Entries were received from organizations of all sizes worldwide.
"Finance and financial services is one of the fastest growing and innovative industry verticals we're seeing in the cloud computing and SaaS industry. MDaudit, through their outstanding submission, has demonstrated that they are at the top of their game. Alongside their fellow winners, they are taking the lead in driving this exciting corner of our industry forward. Many congratulations on earning this title," said James Williams, CEO of The Cloud Awards.
MDaudit AI Innovations
MDaudit streamlines healthcare revenue integrity using augmented intelligence. It rapidly analyzes billions of rows of data, monitors coding, billing, and payment processes, and uses AI-powered tools to democratize insights and automate workflows. Benchmarking helps identify charge capture and denial issues, while retrospective audits drive staff education to prevent errors.
The platform is continuously enhanced based on technological advances, industry trends, and customer feedback. For example, when the annual MDaudit Benchmark Report identified surging third-party audit and additional documentation request rates, MDaudit responded with several AI-inspired enhancements that let the platform work even smarter on behalf of revenue integrity teams by expediting audit resolution, improving strategic decision-making and revenue retention, and integrating insights with actionable workflows to drive outcomes.
Tools like Smartscan.ai, integrated into MDaudit's Payer Audit Workflow module that streamlines third-party audit requests, maximize those outcomes. SmartScan.ai leverages AI technology and serverless architecture to deliver intelligent functionality to automate and accelerate management of external payer audits. It allows users to upload request letters from multiple payers in different formats, which are then automatically processed for workflow activities. SmartScan.ai eliminates the tedious manual work of reviewing hundreds of payer letters every week, expediting overall audit resolution and accelerating revenue retention with fewer resources-a significant benefit for healthcare organizations struggling with staffing shortages.
Smartscan.ai and Payer Audit Workflow are "worth the cost, especially with 12 different locations in different states and RAC letters going everywhere," shares the compliance director of a national chronic and acute pain relief center. "Even with established addresses, there are always stragglers. With [MDaudit], we can address requests by patient, and there's no more manual faxing; we can now upload and send with confidence."
In the last 15 months, more than 20,000 payer letters have been scanned through MDaudit's Payer Audit Workflow solution, with customers retaining over $200 million in revenue.
The most recent addition is AI Assist, a generative AI tool that boosts human productivity and speed-to-value by transforming how revenue integrity teams interact with data to make smarter, more strategic decisions. Revenue integrity professionals type their questions in natural language into AI Assist, which automatically computes complex formulas and instantly returns clear, concise, and actionable responses.
"RCM is a strategic imperative for today's healthcare organizations. It requires leveraging real-time data, AI, analytics and automation to continuously monitor financial risk so issues can be detected, assessed, and remediated as they arise-before they can impact operations," says MDaudit CEO Ritesh Ramesh. "We are honored to have the integral role MDaudit plays in revenue optimization and risk mitigation recognized with this FinTech Award. It reinforces for the entire MDaudit team the importance of our dedication to helping healthcare organizations achieve a resilient and adaptive RCM strategy."
For more information on AI Assist, visit: https://www.mdaudit.com/why-choose-us/ai-at-mdaudit/.
To view the full list of FinTech Award winners, visit: https://www.cloud-awards.com/2025-fintech-awards-winners.
About MDaudit
MDaudit is a leading healthcare technology provider that partners with the nation's premier healthcare systems to reduce compliance risk, improve efficiency, retain revenue, and enhance communication between cross-functional teams. Bringing solutions to an industry in transformation, MDaudit enables organizations to minimize billing risks and maximize revenue with an AI-powered, integrated, cloud-based platform that leverages the power of collaboration between people and sophisticated technology to keep humans at the forefront of decision-making while driving sustainable change. To learn more, visit www.mdaudit.com/.
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SOURCE: MDaudit
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