Cycle Up

Remodeling the Healthcare System with AI…and More RCM Insights

Posted by Meduit RCM on Feb 26, 2020 3:31:40 PM
Jeffrey Nieman, CEO

As a national leader in revenue cycle solutions, Meduit is committed to having our finger on the pulse of the healthcare industry. We take the time to listen to the talk on the street and ask health leaders about how we can improve their revenue cycle through innovation.

What we’re hearing is no surprise. Healthcare costs are growing faster than the economy, making it crucial that we find ways to remodel the system.

The future of healthcare must find ways to lower costs and increase revenue and cash so providers can continue to deliver the highest quality of clinical care. But how will we get there?

Artificial Intelligence (AI) is the path to transforming healthcare by reducing human touches and errors while managing costs. It’s a common myth that AI will eliminate jobs. It may eliminate some of the simpler tasks, and will most certainly change the nature of the healthcare workforce by altering what people do and how they do it.

The majority of AI changes will happen in the financial workforce and non-clinical tasks. One speaker at the AHA Executive Forum in Chicago noted that this will account for 97% of the AI impact on healthcare. In order to survive the rapidly changing technology around AI and make the most of AI to support the revenue cycle and clinical care, providers need to be cognizant of adapting to AI solutions in real-time.

As with technological revolutions of the past, AI technologies will evolve and help employees perform tasks faster and more accurately. At the end of the day, AI will free providers to focus human resources on patient care. In other words, the machines will do what they do best, and people will do what they do best.

Meduit is proud to lead the industry in cutting-edge AI technologies that transform the revenue cycle and accelerate cash for our customers. In this edition of Cycle Up, we will touch on a number of those AI RCM technologies that we’ve created to help your organization thrive.

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