I am Terence Mills, the CEO and Chief AI Architect of Veuu. I’m passionate about building large businesses, enhancing efficiency across the board, and strengthening decision-making. Every morning, I am excited by the thought of how to help business leaders transform their companies by bridging the gap between AI, blockchain, and big data to determine where they converge. As an AI influencer, thought leader, member of the Forbes Technology Council, and keynote speaker, I advocate for a new class of AI that is explainable, accountable, unbiased, and non-destructive. My goal is to help executives and industry leaders to create truly efficient businesses by putting information into the hands of employees so that they can take action and strengthen decision-making often leading to revenue growth.

What is Veuu, and what services does your company provide?

Veuu is a sustainable and scalable FinTech for healthcare. It offers a suite of services that, when combined, provide adjudication at discharge.

riskVeuu:
riskVeuu is genuinely groundbreaking. It seamlessly risk-analyzes claims, leading to a comprehensive assessment that enhances efficiency and profitability in seconds. It helps in real-time assessments of claims portfolio risk, enhances profitability, and decreases denials.

 codeVeuu:

codeVeuu leverages machine learning so that human coders can allocate their expertise toward higher-value assignments. Code thousands of claims in seconds Even hundreds of thousands.

codeVeuu handles the bulk of coding tasks so human coders can allocate their expertise toward higher-value assignments. It has a sophisticated ability to discern the need for human intervention. Using a risk-profiling mechanism, codeVeuu evaluates each claim’s intricacies to determine the need for specialized attention. More complex claims can be routed to human coders within the hospital.

payVeuu:

The problem in the industry is getting paid on time is the biggest challenge. Here is where payVeuu helps in streamlining the payments in the healthcare industry through its easy instant payment mode. It ensures swift and stress-free instant payments directly to providers, complete audit protection, transparency in every transaction, and each payment processed through payVeuu is meticulously recorded on an immutable blockchain, creating a secure record of transactions. This innovative feature boosts security and mitigates the risks associated with fraudulent activities. payVeuu helps in instant settlement without transaction limits.

In Veuu, how do you ensure the security of medical practitioners’ and patients’ data?

Security comes first at Veuu. The Veuu Platform is architected with security in mind and designed accordingly. Below are some of the highlights of the security program:

• Encryption of all data In-Transit leveraging TLS 1.2+
• Encryption of data At-Rest leveraging AWS KMS service with AES-256 bit keys
• Continuous IDS protection
• Continuous vulnerability scanning across resources
• CI/CD pipeline with integrated security checks and thresholds
• Secure coding practices and reviews
• Annual platform HIPAA reviews
• SOC2 Type 2 annual validated audits by accredited third party
• Quarterly internal access reviews and audits
• Internal security committee comprised of organization leaders
• Penetration testing of platform and environments in an ongoing basis
• Robust BC/DR processes and procedures to ensure the recovery of information if needed
• MDM management including forced encryption, remote wipe, and lock features

 What prompted you to integrate AI into your company?

Veuu was originally founded by AI.io, an AI solutions provider that has successfully built large scale solutions to address business problems in the healthcare industry, among others. AI.io is controlled by Terence Mills.

In 2019, Terence funded a deep dive into healthcare by AI.io, in search of the largest problems in that were plaguing the industry. AI.io found that improper or faulty coding of claims led to increased claims risk that led to long A/R days for providers. Said another way, coding is something that humans do not perform well. Industry accuracy against adjudication is in the mid 60% range. Inaccurate coding leads to greater risk of adjustment and denial. It is not only inaccurate or faulty coding that leads to denials. Improper claims that include incomplete documentation, missing information, no signature, to name just a few of the problems, further increase the risk of denial. These problems lead to increased adjudication days by the insurance payers.

AI.io found that it could positively impact these problems with an AI powered autonomous coding engine that was built on language over that of claims data. It also found that an AI powered risk evaluation engine that would address all the reasons a claim could be denied, could return immediate response to providers rather than waiting over 30 days for a response of denial adjustment from the payer. Finally, by delivering an immutable and transparent payments platform, Veuu adjudicate claims at the time the patient is discharged.

How do you stay updated and focused?
Work life balance helps me stay focused on my goals. I find that when writing, if I leave what I have written for a day or more and then come back to it, I see many areas of improvement. This same thinking translates to my work. For instance, ideating an AI solution can often get cloudy if done all at once. Invariably new solutions take days, weeks, and months depending on complexity. I consciously take breaks to focus on other things, and then come back to the solution the AI seeks to provide.

Staying up to date is more about weeding out what is not pertinent. Information is constant and so is the filtering to focus on those areas that interest me the most. Like work life balance, the information I consume is not all business. I also find social media to be an annoying distraction because most of it needs to be filtered out. This is an exhausting process which I find boring.

Have you achieved your goals, and what lies ahead for you and your company in the future?
Veuu has an exciting future ahead and there are many noteworthy accomplishments. An AI solution is never done being developed. I seek an entire industry methodology shift in how healthcare claims are coded from a subjective process to an objective process that will alter the current state to a future state and improve the quality of care. Veuu also plans a securitization of healthcare claims in 2024 that will help to turbo charge adjudication at discharge. To accomplish these goals, Veuu’s exciting work will never be done.

With the help of CAQH, Veuu will pilot a single payments platform for healthcare in Q2 2024 that introduces full transparency and reduces fraud. The pilot which will include a payer, a provider, and a bank will demonstrate the power of same day payment with full audit capability.

Under my leadership, Veuu will pioneer AI modeling that bring new meaning to natural language processing that achieves a wider set of goals. specialties in healthcare. Veuu has a deep development pipeline that will lead to growth and shareholders return.

If you could give a few tips to young business aspirants, what advice would you share to help them focus on their dreams?

When working in AI, it is compulsory to identify the business problem and then plan the development of the solution. It is very unlikely that building a solution and then looking for a problem results in a winning business plan.

The problem that you choose to solve will require domain expertise. For instance, if you select a problem in healthcare, then healthcare expertise will be required to develop a solution that addressees all aspects of the problem you are seeking to solve.

The people that you hire will make the difference. Their professional expertise will allow you to succeed in areas that you may not have even thought of. For example, in healthcare, security is compulsory to deal with HIPAA, PHI, and PII matters. Without the right people to advise and implement the perquisite security procedures and protocols, your solution will not pass risk assessments. If you are a serious solutions provider, SOC 2 Type 2 is a measure that you must consider and implement. While it is a significant investment, it will allow you to do business with banks, hospitals, other financial institutions, and the list goes on. Your ability t to prove that you have done the things necessary to protect your business and your potential client’s business shows that you know what you are doing and you take it seriously.

“The Veuu Platform is architected with security in mind and designed accordingly exclusively

for healthcare industry.”

 “I consciously take breaks to focus on other things, Work life balance helps me stay focused on my goals.”