What Is AI Getting Right — and Wrong — in Healthcare’s Revenue Cycle?
AI hasn't solved all the problems plaguing healthcare's revenue cycle — but R1's Lee Kupferman says that it is getting closer, one gray area at a time.
AI hasn't solved all the problems plaguing healthcare's revenue cycle — but R1's Lee Kupferman says that it is getting closer, one gray area at a time.
Organizations that focus on execution will reduce variability, improve cash flow, and build resilience against ongoing industry pressure. They will also be better positioned to integrate future innovations as healthcare continues to evolve.
A new report from PayZen found that providers collect just 31% of patient bills on average, even as patient payments account for a growing share of health system revenue. PayZen executive Tobias Mezger outlined how providers can improve the patient financial experience through clearer pre-care payment conversations and more flexible financing options.
EHRs not only document care but can also act as a financial engine to bridge the gap between patient care and prompt reimbursement. Here's how to bring the two sides together to alleviate tedious administrative burdens.
When revenue cycle partners wait to be asked, or rely on “tell us what you need” as a default, they miss critical opportunities to deliver meaningful performance, support their client organizations, and ultimately serve patients better. In today’s healthcare environment, partnership requires anticipation, not reaction.
New research from Cedar found that about 40% of collectible healthcare dollars now come from uninsured patients, a share that has jumped 54% in three years. The shift is forcing providers to rethink their revenue cycle strategies as patient payments become more difficult — and more important — to collect.
Adonis raised a $40 million Series C funding round to help hospitals use AI to tackle denied and underpaid claims. Its platform automates manual revenue cycle tasks and provides real-time insights, which allows staff to focus on higher-value work. Customers include Mount Sinai Health System, Baptist Health South Florida, AdventHealth and ApolloMD.
Take our quiz and learn more about perspectives on AI and RCM in healthcare.
The promise of automation in RCM is undeniable, but achieving it requires more than simply adopting new tools. Hospitals must take deliberate steps to prepare their people, processes, and systems for change.
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.
Some large health systems are experimenting with selling their internal capabilities — such as IT support, revenue cycle management and call center operations — to smaller hospitals as a new revenue stream. While the approach is still rare, it has the potential to help health systems monetize their expertise and infrastructure, one healthcare consultant said.