Adopting and implementing new technology is a major undertaking for medical practices and hospitals. But a research report, sponsored by Smarter Technologies, reveals not only the challenges of implementation but also practice preferences for maximizing the effectiveness of new health tech, particularly artificial intelligence. The AI Index in RCM report will be the focus of an upcoming webinar scheduled for January 22 at 1pm ET.
You can download the report here.
MedCity News surveyed 125 medical billing executives and support staff for the report, from CEOs through medical billing managers. They represent organizations of all sizes, from medical practices with 5,000 or fewer annual patient discharges to hospitals with more than 10,000 discharges each year. The report also highlights challenges and needs for small practices and larger ones.
Interestingly, the top priority for AI applications of revenue cycle management differed based on the size of the medical institution where respondents work.
Bill collection emerged as the top priority for institutions with 5,000 or fewer discharges annually, favored by 52% of respondents in that category.
Payer communication was favored by 48% of respondents at practices with 5,000 to 10,000 discharges annually.
Patient financial services were the biggest priority for the largest practices with more than 10,000 discharges annually, reflecting the preference of 71% of respondents in this category.
Automation spurred software purchases 49% of the time for medium-sized hospitals.
The report also highlights:
- Prior authorization denial rates
- Past experiences with medical billing tech
- Insights from working with AI software vendors
- Automated tasks that would improve workflow
Among the participants in the webinar are:
- Arundhati Parmar, MedCity News Editor-in-Chief
- Michael Gao, MD, Smarter Technologies CEO
- Rebecca Burlin, RN, Lakeland Regional Health, Director, CDI (Clinical Documentation Improvement)
Join us for this compelling conversation!
To register for the webinar discussing the findings of the AI Index in RCM report, scheduled for Thursday, January 22 at 1pm ET, fill in the form below:
Photo: Issarawat Tattong, Getty Images