The Meduit Innovation Lab Blog

Recent Posts

Technology is Transforming Healthcare RCM

Posted by Meduit RCM on May 11, 2021 2:55:56 PM

Technology is having a profound impact on the entire healthcare revenue cycles of everything from large health systems and independent hospitals to large physician groups and small practices alike. The types of technologies vary widely, too, from existing tried-and-true technology that is being reapplied in innovative ways to brand new artificial intelligence solutions that are being invented in near-real time today.

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Topics: AI

Solve Hospital RCM Problems with AI

Posted by Meduit RCM on Apr 7, 2021 8:00:00 AM

When an eight-hospital system required assistance resolving claim denials, health system leaders reached out to Meduit. After analyzing the issues, the Meduit team leveraged its artificial intelligence (AI) solutions to process coordination of benefits denials in less than 60 days.

To resolve one of the hospital system’s largest denial reasons, the MeduitAITM team developed and released a second application, a targeted Modifier 25 Appeal Process. This application was released within the first 90 days of the contract. The team is developing two additional applications within the next four weeks. These two applications will handle:

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Topics: AI

Avadyne Health Joins Healthcare Revenue Cycle Leader Meduit

Posted by Meduit RCM on Apr 5, 2021 2:00:00 PM

FOR IMMEDIATE RELEASE

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AI Podcast Transcript now available: “Employing Predictive Analytics to Work Smarter RCM”

Posted by Meduit RCM on Mar 29, 2021 8:00:00 AM

In case you missed Meduit’s third podcast of our three-part series, Employing Predictive Analytics to Work Smarter Revenue Cycle Management, you can now download the transcript for easy reference here… and you can still listen to it below.

In this podcast, Jason covers how providers can utilize advanced predictive analytics to:

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Topics: Podcast

Meduit One – Virtual Collection Agency Affordably Drives Cash by Leveraging Automation

Posted by Meduit RCM on Mar 24, 2021 8:00:00 AM

Concerned about collecting on aged accounts for your practice? A recent survey concluded that 83% of small physician practices with fewer than five doctors report that slow payment of accounts from high-deductible health plans is their biggest cash flow hurdle (Source: Black Book).

Before you give up on those accounts, take a look at Meduit One – our virtual collection agency that leverages automated technology with human revenue cycle expertise to resolve past due accounts.

Meduit One is an innovative solution designed to strengthen finances for physician practices, specialists, dentists and veterinarians. This full-service, virtual collection agency improves cash flow for healthcare providers.

Drive cash flow into your practice and manage bad debt accounts through technology.
The best part is there are no upfront fees and no risk. You only pay for success.

Learn more about how you can fuel more cash to your bottom line: https://www.meduitone.com/

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Topics: Meduit One

AI Podcast Transcript now available: “How Web Bots Solve Healthcare RCM Problems”

Posted by Meduit RCM on Mar 23, 2021 8:00:00 AM

In case you missed Meduit’s second podcast How Web Bots Solve Healthcare RCM Problems, you can now download the transcript for easy reference here… and you can still listen to it below.

In this podcast, Jason Petrasich, Senior Vice President of AI for Meduit, takes you through game-changing tools that are designed to work hand-in-hand with staff to maximize results across the board. By aligning the right tasks with AI and RPA technologies, providers can generate cash faster, increase efficiencies and lower cost.

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Topics: Podcast

AI Podcast Transcript Now Available: “AI Will Save the Revenue Cycle”

Posted by Meduit RCM on Mar 17, 2021 8:00:00 AM

 

In case you missed Meduit's premiere podcast Artificial Intelligence Will Save the Revenue Cycle, you can now download the transcript for easy reference here... you can still listen to it below.

In the first podcast of our three-part series, Jason Petrasich, Senior Vice President of AI for Meduit, takes you through best practices of utilizing AI solutions to positively impact the revenue cycle and overcome the financial challenges of today's healthcare environment. Jason covers:

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Topics: Podcast

Maximizing Medicaid Eligibility and Care Reimbursement

Posted by Meduit RCM on Mar 11, 2021 8:00:00 AM

COVID-19 has resulted in an increasing number of patients losing health coverage and hospitals losing revenue associated with uninsured patients. At the same time, more patient encounters qualify for reimbursement than ever before due to the passage of the Affordable Care Act and its impact on Medicaid availability. In addition to Medicaid, there are dozens of federal, state and private programs that cover the uninsured that are not being utilized effectively.

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Topics: medicaid

February 2021 edition of Meduit’s RCM digital magazine Cycle Up

Posted by Meduit RCM on Feb 26, 2021 8:00:00 AM

As healthcare providers continue to grapple with the impact of COVID-19, the landscape is beginning to shift into what the recovery phase will look like - both clinically and financially. In the February 2021 edition of Meduit's RCM digital magazine Cycle Up, we focus on opportunities and risks in revenue cycle management, including how to employ artificial intelligence to work smarter and drive cash more efficiently.

Our goal with Cycle Up is to provide compelling information that helps your organization solve today's revenue cycle challenges. Here's an overview of what you'll find in this edition:

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Topics: Cycle Up

SARA Learning at an Exponential Rate

Posted by Meduit RCM on Feb 19, 2021 8:00:00 AM

Meduit’s SARA Family of Web Bots launched approximately six months ago to solve a specific task problem within the revenue cycle for a Meduit client. Her initial task was to retrieve granular status of a claim from a payer via their portal and then report that status back to the patient file.

SARA stands for Supervised Autonomous Revenue Associate. She was built as an autonomous web bot that functions with true machine learning skills. Like all “smart” technologies that leverage artificial intelligence (AI), SARA learns over time, and she is doing so at a faster rate than anticipated while handling more complex challenges.

Since her birth in mid-2020, SARA has gone from one to a dozen applications of her problem-solving AI skills. She completes the work of two to four employees for every 10 working today. For example, with 15 employees working a specific process such as preauthorization or A/R claim status, the addition of SARA to the job would be the equivalent of adding three to six employees to the task.

“In one case study, SARA picked up the work of 10 employees for a single organization and created an annualized value of $500,000 for that provider,” said Jason Petrasich, Senior Vice President of Meduit. “She is able to help generate results faster than ever before by functioning in tandem with staff while absorbing additional workload to keep the momentum going.”

SARA is a revenue cycle game-changer that delivers month after month after month. To date, these are the tasks that SARA has mastered:

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Topics: AI