Before COVID-19 forced conferences to cancel or postpone their events, Robert Hall, VP Regional Sales, represented Meduit at the North Carolina HFMA Annual Conference, which was held March 4-6 in Pinehurst, NC.
Session leaders at the conference broke down three different types of solutions that often fall into an overall category of AI:
- Artificial Intelligence
- Robotic Process Automation (RPA)
- Computer-Assisted Coding (CAC)
According to Hall, there was a great deal of discussion about how RPA and CAC are not true AI, but some providers are marketing them as such. He elaborated to say that competitors often think they are selling AI when they market RPA and CAC technologies, but those have been around for many years, and they are not built on machine learning.
The conference opened with HFMA national chair Michael Allen providing an update of where the greater organization is headed for the upcoming year. Greg Kay, Senior VP of PMMC, followed with a session on pricing transparency in patient billing. Participants learned why pricing transparency should be a strategic initiative for healthcare organizations in 2020 and key steps hospital organizations should be pursuing.
While COVID-19 was not the topic of a formal breakout session, there was an announcement on the final day of the event that upcoming HFMA conferences were being postponed or canceled due to the pandemic.
As conferences cancel or shift to online, Meduit is adapting by producing webinars to support hospitals and health systems with RCM thought leadership and best practices.
Meduit and HFMA-FL: AI and the Future of Revenue Cycle Management
Due to the cancellation of the Spring Healthcare Financial Management Association (HFMA) meeting, the organization instead hosted a webinar series on May 20, 2020. Meduit participated with a webinar titled “The Future of Revenue Cycle Management” presented by Jason Petrasich, Senior VP of MeduitAI™.
The webinar spotlighted the impact of artificial intelligence and robotic process automation on the future of revenue cycle management for hospitals and health systems. Jason demonstrated:
- How AI is driving the future of revenue cycle management to resolve accounts receivable for hospitals and health systems by looking at real-world examples
- How applying new AI technologies can help providers make more informed decisions and redesign care to the advantage of patients and the organization
- Ways healthcare organizations have successfully addressed pressing challenges relating to the use of algorithms, predictive analytics and machine learning to maximize the benefit of AI technologies
- How the healthcare workforce will evolve as organizations seek to enhance both human and machine capabilities through AI and RPA technologies
- The importance of not looking at AI or RPA as software or technology programs but as partners to work alongside employees to make them faster and more accurate
Meduit and Florida Hospital Association: Maximizing Hospital Cash Flow
Jeff Nieman, Meduit CEO, and Doug Gardner, Vice President of Client Engagement, launched a prerecorded webinar titled: “Maximizing the Revenue Cycle.” Sponsored by the Florida Hospital Association (FHA), it covers best practices for achieving maximum cash flow by working accounts receivable every 30 days.
In the webinar, Jeff and Doug address:
- The importance of working accounts early in the revenue cycle process because as accounts age, the probability of collecting declines
- Best practices on working accounts throughout the calendar as they age
- When to outsource for best results and maximum cash flow
- Cost benefit of outsourcing aged accounts rather than continuing to work in-house
FHA plans to target their Florida hospital database with the webinar on June 24, 2020.
Meduit and the HFMA-NC: RCM Robotics for Hospitals; General RCM Tips for Success
Meduit is also working with the North Carolina chapter of the HFMA on future webinars that will support hospitals, health systems and large physician groups in the state.