A new report commissioned by Smarter Technologies and produced by MedCity News reveals how medical billing staff perceive revenue cycle management software and the role that AI could play to improve revenue cycle management (RCM) tech. More than 90% of respondents expressed interest in AI-driven billing solutions, with top priorities being bill collection, patient financial services, and payer communication.
In a survey of 125 people who work in medical billing, respondents shared what they like and dislike about the medical billing status quo and the changes they’d like to see to transform medical billing into a seamless operation.
Smarter Technologies is an automation platform developed for hospitals and health systems. It brings together three companies: RCM services businesses Access Healthcare, AI-powered revenue cycle automation platform Thoughtful.ai, as well as clinical insights AI business SmarterDx, all recently acquired by New Mountain Capital.
Smarter Technologies wanted to develop a way to assess the appetite and interest in AI applications for revenue cycle management by the people who work in this sector of healthcare. Thus, The AI Index in RCM survey was born.
MedCity News surveyed 125 medical billing executives and support staff, from CFOs through medical billing managers. They represent
organizations of all sizes, from medical practices with 5,000 or fewer annual patient discharges to large hospitals with more than 10,000 discharges each year.
The majority of respondents, 55%, have worked in healthcare six years or more. Half of respondents work at hospitals with 5,000 to
10,000 patient discharges annually. Another 26% work for practices with more than 10,000 patient discharges annually, while the rest work for practices with less than 5,000 discharges per year. The findings revealed a keen appetite to apply AI technologies to transform revenue cycle management across a broad range of tasks.
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