Increasing productivity and collections with AI and RPA
The challenges facing today’s healthcare finance leaders are to improve financial performance and operational efficiency amid rising labor costs and shrinking margins. It sounds straightforward but these leaders and their teams must find new ways to do more with less.
Technology solutions powered by artificial intelligence can help close the gap between what’s expected and what’s achievable.
But a recent industry survey found that a disconnect between the perceived value of digital revenue cycle management tools powered by AI and robotic process automation (RPA) is a barrier when adopting such emerging tech.
Still, about half of leading health systems report they plan to invest in such revenue cycle management tools within the next three years to improve financial performance.
The survey findings were recently released by Waystar and The Health Management Academy, which works with leading health systems and industry partners to identify barriers and opportunities in the sector, representing 150 of the largest health systems in the industry.
Here's what we know: Hospitals that use the technology, value it.
Currently, 6% to 28% of those surveyed report using AI and RPA for front-end, mid-cycle and back-end rev cycle management. Of these, 82% said they adopted the tools to improve financial performance.
Overall, health systems currently using AI and RPA report higher satisfaction with revenue cycle management processes than those that are not using or only considering the rollout of such tools.
This E-book comprises seven reports on the adoption and benefits of AI and RPA that are instrumental to any healthcare team.
Here's what you'll learn:
- The No. 1 obstacle to hospital innovation
- 12 signs it's time to switch clearinghouses
- Doing more with less in your revenue cycle
- How to increase revenue with coverage detection
Please fill out the form to download the whitepaper.