High-deductible health plans and the rising cost of care have placed an increased financial burden on patients to pay healthcare providers. Consequently, providers are collecting a decreasing portion of what patients owe. Are self-service patient options the panacea for providers to resolve these cash accounts to ensure their own financial health?

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.

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 MeduitAI^TM 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:

FOR IMMEDIATE RELEASE

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:

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/

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.

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:

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.

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: