Veuu is a cloud based sustainable and inclusive FinTech ecosystem for healthcare providers. It accelerates claims payables to providers by facilitating the purchase of the claim at negotiated rate on a non-recourse basis, bringing A/R days to zero when used to its fullest potential. The application will also automate manual processes, reduce costs, minimize claims denials, automate settlement, and allow for provider financing relief.
AI principles
AI Growth
Veuu leverage’s the best use case application of AI as part of our FinTech ecosystem. As such, we look to the foundation that AI brings to our business and the value we place on it.
In the next 10 years, AI will be the #1 driver of our economy. This is already being seeing in the accelerated growth of market. It is estimated that by 2030, AI will play the largest role of all in that growth.
As the importance of AI grows even in our lives, we see products that AI applications such as virtual home assistants, direct banking, and other common AI tools play in our lives, quickly becoming key products we’ve come to rely on. This will only increase as products and their customer reach expand, and the reliance and use increase to businesses.
Responsible AI
With these increases in the last 10 years – both in computing power coupled with the improved accuracy in machine learning results – the more we see technology becoming powerful. As such, corporations leveraging AI must have increasing attention. With these far-reaching results in the AI products we now use, we must also keep in mind that we assume greater responsibilities as companies, and thus greater attention to the detail when designing AI. Shared values such as privacy, fairness, and inclusivity, must be at the foundation of any AI.
Moving to trustworthy AI is probably one of the biggest barriers to adoption of AI tools in most businesses. At Veuu, we take this responsibility seriously and focus on the trust that our systems can enable. We have built all components of our AI, thinking through with precision, thoughtfulness and transparency the responsibility and trust AI demands of business. While some companies might not address these principles in such a deliberate way, we have taken a deliberate approach to solving a specific business problem in a healthcare payment ecosystem that AI can support in a responsible and trustworthy way.
All tools in AI are developed for a purpose, which expresses a particular value and thus has ethical implications. This makes it imperative for companies to consider what they are doing and how it impacts other businesses, consumers and society at large.
There are emerging policies that will become crucial for businesses to adopt in order to achieve responsible AI, with a focus on upcoming areas such as governance. We should expect that governance will be evolving, thus require us to continuously focus on our technology development and how they are evaluated against our principles.
Transparent, Explainable and Inclusive Modeling
For Veuu, our key aim is to solve a shared business problem in healthcare claims payments, leveraging AI techniques to do so. The core of what we do is to provide our customers with transparent views into the payments process and address the payment for them, enabling them to focus on their core business.
While we have evaluated and leveraged many tools in natural language processing and deep learning, we have primarily built our own AI tools so that we can ensure transparency, explainability and an inclusivity to our machine learning models.
We narrow our scope to achieve these tasks from a pragmatical application in AI.
- we test these models at every turn
- we deliver our results fairly to all stakeholders
- we have clarity on responsibility
- we have built these components with the best interests of secured data frameworks
- we help our customers understand how each component impacts them
- we ensure compliance with all laws
- we do so in a future-proof manner that is sustainable
As data security and privacy is of utmost importance to us in healthcare and finance, we have conceived of our models to approach each aspect of data with purpose, mitigating risk and leveraging data so that it is entirely in the cloud and in a HIPAA-secured environment.
This allows us to manage our process while utilizing de-identified data from patient health records. All aspects of claims and transactions around them are recorded in the blockchain – allowing a view into the process and actions that leverages the best of this technology for the purposes of improving our fintech ecosystem for healthcare stakeholders.
The aim is to create a solution that provides not only transparency, but also explainability for all stakeholders in the payments process – whether it be providers, insurers or institutional stakeholders – fulfilling our mission of inclusivity.
All benefit from the models that we have established to be entirely inclusive for our customers. This is what provides a view to key stakeholders in a manner that fulfills the best of AI applications to solve a very real-world challenge in healthcare.
