The Silicon Review
“CereSoft provides an innovative approach in reducing the healthcare revenue A/R days from a range of 5 to 15 days with aunique 12 STEP PlanDigitalMythology.”
CereSoft, a technology pioneer and forward thinking company, based in Silver Spring, Maryland, was founded in 1994.For over 20 years, the organization has been a leader in feature rich, real-time digital exchange with its clients in the healthcare industry, while demonstrating thought leadership in both healthcare knowledge and technology services throughout the United States. With over 200 CereSoft employees worldwide, it maintains a workforce that can handle all of the revenue cycle needs of both large hospital systems and physician networks while providing the same platform for rural hospitals and small physicians practices..
Cynosure points of CereSoft
Core discussion with the influential: Dr. Hsing-Hen Chen, Founder and CEO
Why was the company set up? How did you select the vertical and decide to be a part of the global platform?
To provide a technology to read, understand, interpret and extract useful data from documents of all kinds, paper and electronic, structured and un-structured. Currently, we are focused on the healthcare industry as our primary target due to the urgency of needs and the size of the market.
Tell us about your first product that was launched?
We started by processing consumer bills and invoices. We pull data from invoices and deliver the extracted information to the downstream accounting and billing systems for reconciliation and posting.
How successful was your first project roll out?
The first product won Product of Show at AIIM. We were pleased with the industry’s acceptance of our recognition technology which also scored number one in a benchmark test conducted by NIST.
What challenges did you face in your initial years?
At the start, customers are skeptical; the most difficult thing is to convince them that your system will indeed perform and provide the benefits you claim. You have to build your credibility slowly. Later on, we are able to find partners from large non-competing organizations with symbiotic goals that help us to overcome this barrier and drive sales.
If you have to list five factors that have been/are the biggest asset to your organization, what would they be and why?
What drives/inspires you to excel in your field of business?
The passion for solving problems is what drives not only me but the company. We want to help the healthcare industry to energize its cash while improving their business process.
How do you and your company contribute to the global IT platform and society at large?
Healthcare cost in this country and other parts of the world continues to grow at an alarming rate. At least 20% of the GDP in this country is consumed in healthcare. Our cloud base platform that anyone with an internet connection anywhere in the world can access, monitor and work will provide significant cost reductions in the years to come.
We greet the rising star Dr. Hsing-Hen Chen has been active in the Healthcare RCM services for the past two decades. He has served as professor in Physics and computer sciences for the University of Maryland for more than thirty years where he has excelled and specialized in complex systems analysis. CereSoftwas founded in 1995 after Adobe Systems acquired his previous company “Nonlinear Technologies” which helped Adobe to build their Acrobat Capture product. Currently, today, CereSoft partners with many large Banks’ lockbox operations for providing RCM services to healthcare provider clients for receiving, storing, balancing and posting all their daily receipts from insurance payers and patient payments in the form of paper EOBs and electronic remittances. Our flagship product and Web Portal, MedAR, allows users to handle correspondences, denials, underpays, refunds, secondary, re-associations, etc. online within one single system.