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5 must-have features and functions that health systems should look for when considering AI-powered tech to maximize revenue cycle performance. Every healthcare institution must have a sound, consistent revenue cycle to succeed. Yet, managing the revenue cycle necessitates skilled coders, thorough documentation, and prompt denial resolution. Over 30% of U.S. healthcare expenses are attributable to administrative processes, so every aspect of a patient encounter from check-in to billing and claims can be improved for efficiency. Computer-assisted coding (CAC) has been a standard practise in healthcare organisations of all sizes during the past 20 years or so. The revenue cycle management (RCM) method incorporates other breakthroughs in automation and artificial intelligence (AI) thanks to the use of natural language processing (NLP) to evaluate medical papers and identify relevant terms and phrases. AI algorithms analyse patient data to reduce some of the uncertainty in coding. Revenue Cycle Management (RCM) is the process of managing the financial aspects of a patient's healthcare experience, from the initial appointment scheduling to the final payment collection. AI can improve RCM for hospitals in several ways:
In summary, AI can help hospitals improve the efficiency and effectiveness of their revenue cycle management processes, resulting in improved financial performance and better patient experiences.
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Trina Histon, vice president of clinical product strategy at Woebot Health, discusses incorporating digital health tools into the provider workflow. Trina Histon recently accepted a new challenge at …
Posted Feb 17, 2023 Integrated Care Clinical Care and Research Digital Health
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