Artificial intelligence (AI) can be a game-changer for hospitals, health systems and physician practices to resolve accounts efficiently, accelerate revenue, reduce costs and stabilize finances. However, not all AI solutions vendors deliver on their promises.
For best results, work with an AI partner that is entirely dedicated to the healthcare industry and one with an established track record of success. Look for vendors that also offer non-AI RCM solutions and customizable solutions that effectively integrate with and enhance your established processes. Also, make sure the company provides excellent customer service to both patients and client partners.
Effective AI solutions address all areas of the RCM process, from coding to collections. Healthcare organizations can gain financial traction by focusing on solutions like predictive analytics, which quickly move the needle on revenue collection. These types of AI solutions identify information to direct next steps in the process. An example of this is insurance claim analysis, in which AI catches claim errors early, enabling staff to make corrections and prevent denials.
On the patient side, AI can analyze and predict patients’ propensity to pay their claims, taking pressure off your staff and allowing them to prioritize which claims to pursue and in what order. AI can also identify patients whose claims may qualify for community or hospital-sponsored charity programs. AI for predictive analytics front-loads RCM, offering valuable insight that guides the process and directs efficiencies from beginning to end.
Meduit has developed an AI Buyer’s Guide to help you identify and select the right partner that can deliver impactful results to your bottom line.
Download your copy of Meduit’s AI Buyer’s Guide here: