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How GenAI can help Solve Major Pain Points in the Rev Cycle
A growing number of healthcare organizations see potential in artificial intelligence to increase revenue and relieve administrative burdens that reach all the way to the providers themselves. But medical coders worry about AI's accuracy and the future potential for job loss.However, the goal should not be autonomy, but rather augmentation – instead of removing the human from the equation, the human can be empowered with new generative AI-powered assistive software, said Varun Ganapathi, cofounder and chief technology officer at Akasa, vendor of generative AI-based revenue cycle management technology. Ganapathi holds a doctorate in computer science, specializing in artificial intelligence, from Stanford University.
Medigy Insights
GenAI is powered by large language models that deeply understand the patient records and comprehend clinical data previously opaque to computers. With LLMs, all of that is now accessible. Training an LLM to understand the healthcare domain and its data opens up many possibilities, including a more straightforward path to truly solving some of the major pain points in the revenue cycle.GenAI is the future of the revenue cycle. This complex industry depends on highly manual and time-consuming tasks that involve maneuvering around intricate EHRs and payer portals, dealing with endless documentation, and coping with ever-changing regulations and policies – all while trying to prioritize the patient experience.
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