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MDAUDIT TRANSFORMS THE HEALTHCARE INDUSTRY BY EMBEDDING THOUGHTSPOT TO DRIVE
COMPLIANCE AND REVENUE OUTCOMES




>25%

business growth in the
past year

40%+

increase in user growth
from 2021-2023

10X

faster time to market with ThoughtSpot Embedded




About

MDaudit, is a leading healthcare billing compliance and revenue integrity SaaS
platform that partners with the nation’s premier healthcare organizations to
improve billing, coding and revenue outcomes to succeed in an evolving
healthcare landscape. Their flagship RCM software platform enables organizations
to improve their revenue outcomes, reduce compliance risk, improve efficiency,
by providing workflow automation, continuous risk monitoring, and built-in
analytics and benchmarking capabilities – all in a single, integrated
cloud-based platform.

Industry

Healthcare

Financial Services

Use Cases

Embedded analytics

Healthcare compliance

Revenue integrity

Modern data stack











CHALLENGE

Healthcare is one of the oldest industries in this day and age. To make a dent
in the industry is challenging, let alone to revolutionize it. According to the
2023 MDaudit Annual Benchmarking report, external payer audits quadrupled in
volume in 2023, making timely responses more challenging than ever for
resource-strapped healthcare organizations. Though patient volumes and surgeries
have begun to recover from COVID-19 declines – with a 23% and 27% increase over
2022 – inflation, staffing shortages, reimbursement, and regulatory issues
continue to jeopardize the financial health of healthcare organizations
nationwide. MDaudit has partnered with ThoughtSpot since 2020 to continually
make investments in the power of analytics to unlock value for its customers.

The evolving landscape demanded swift responses to diverse payer request
letters, urging the need for advanced Generative AI. MDaudit took on the
challenge to harness the power of analytics in order to build a more agile,
forward-thinking business.

Ritesh Ramesh joined MDaudit as CTO in 2019, transitioned to COO, and is now
CEO. Ramesh knew MDaudit needed a solution for three key pain points. The first
challenge was discovering a better way for healthcare organizations to identify
the efficacy of their auditing efforts — what they do, who they audit, and who
to educate. Next, they needed the ability to subcategorize powerful insights at
the operational level, line level, and executive level to reduce revenue and
compliance risks. Finally, MDaudit knew they needed to keep up their revenue
integrity goals, ensure organizations are receiving payments in a timely manner,
and improve their user experience.


Against the current macro-level backdrop, healthcare organizations have
tremendous pressure to drive healthy margins and protect revenues. We embedded
ThoughtSpot Embedded into MDaudit to allow customers to strategically answer
questions, and they are now driving tangible outcomes from it.

Ritesh RameshCEOMDaudit



SOLUTION

On a mission to disrupt the healthcare industry, Ramesh knew ThoughtSpot would
be the partner he needed. According to Ramesh, “If you're being audited 100
times a year, from 25+ payers, you need to have the information and insights
readily available to defend your revenue. You need to have visibility into the
financial results and outcomes of those payer audits.” MDaudit’s product team
has created Liveboards that are enabling all users to self-serve their ad hoc
questions. To date, ThoughtSpot Embedded has been adopted by over 1000+ end
users, at all levels to drive actionable insights.


If you’re a healthcare compliance or a revenue integrity professional, data is
not the first thing on your mind but just strategic questions. You’re not
trained to be a data analyst. So we need to provide people with the right tools
to do their job better.

Ritesh RameshCEOMDaudit


Today, ThoughtSpot Embedded has been key to accelerating delivery and execution.
MDaudit has four specific use cases with ThoughtSpot Embedded: audit insights,
utilization management, revenue optimization, and external payer audits.
ThoughtSpot Embedded’s strong analytics and API integration capabilities have
enabled MDaudit to go-to-market 10x faster, compared to if the company had built
an in-house solution. An analytics vision taken to reality, this has translated
to double digit growth for MDaudit.

Following the roll out of ThoughtSpot Embedded, ThoughtSpot Sage was introduced
to cater to the specific needs of executive end users, offering a layer of
natural language-driven analytics. This addition aimed to provide a more
user-friendly interface for asking strategic questions, aligning with the
broader strategy to drive stickiness with executive users. The focus was
ensuring precision and accuracy in responses.


With ThoughtSpot Sage, we've embraced a transformative capability that sets us
apart. It goes beyond the industry norm, offering a user-friendly experience for
our executive end users. I'm genuinely optimistic about our future with
ThoughtSpot Sage, not only as a tool but as a strategic asset.

Ritesh RameshCEOMDaudit


MDaudit achieved a transformative milestone by integrating Insights.ai and
SmartScan.ai, marking a significant advancement in AI-driven healthcare
technology. Insights.ai democratizes strategic insights through natural language
queries, and SmartScan.ai streamlines external audit workflows, expediting
resolutions. This groundbreaking innovation aligns with MDaudit's commitment to
human-centric AI and its strategic collaboration with industry leaders AWS and
ThoughtSpot, solidifying its forefront position in healthcare innovation.

Now, Healthcare executives can measure their teams’ productivity, as well as
performance measures and outcomes when it comes to compliance and revenue risk.
Data Analysts are empowered to build their own insights on auditing, billing,
payment risks, and beyond. Executive users can get their strategic insights by
asking a question in plain english without depending on technical users.






IMPACT

Growing in healthcare is incredibly hard, yet powered by ThoughtSpot Embedded,
MDaudit has seen a ~25%+ increase in business growth in 2023.


We are on this journey to transform and define the future of healthcare
compliance and revenue integrity. ThoughtSpot Embedded has been the execution
tool for us to enable that outcome.

Ritesh RameshCEOMDaudit


With denials under analysis valued at over $150 billion, and despite the
incredibly large consumer base, MDaudit has still managed to scale with ease,
seeing a 40%+ increase in user growth from 2021 to 2023. This growth through
self-service has allowed the company to increase their Annual Net Promoter
Survey, measuring customer experience and satisfaction, by 2 full points, an
impressive feat. The outcomes have resulted in better product engagement,
stickiness, and retention of their customer base.





WHAT'S NEXT

As MDaudit continues to be at the forefront of the healthcare industry, they
have ambitious adoption plans with ThoughtSpot Embedded across the organization.
Ramesh has established that now more than ever is the right climate to build on
their use cases and visualizations.

Over the past 3 years, there has been a ton of focus on cloud-first approach,
integrations and ecosystems, which is what led them to adopt Snowflake and
ThoughtSpot Cloud. Now, having built out their modern data stack, MDaudit is
accelerating full speed ahead to forge a new standard in healthcare compliance
and revenue integrity.


We are defining the future of healthcare revenue integrity and ThoughtSpot
Embedded has been pivotal in that mission.

Ritesh RameshCEOMDaudit


Looking ahead, MDaudit is aiming to use ThoughtSpot Sage to continue to enhance
adoption by simplifying the user experience, aligning with their long-term
strategy of catering to executive users while maintaining precision and accuracy
in analytics responses.


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