Advanced Revenue Cycle Analytics: An Overview

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The term artificial intelligence often brings to mind futuristic, human-like robots that aim to take over the world—something out of a sci-fi film. But in reality, AI is being developed and applied in many industries today, and it is changing the way we approach healthcare.

The term artificial intelligence often brings to mind futuristic, human-like robots that aim to take over the world—something out of a sci-fi film. But in reality, AI is being developed and applied in many industries today, and it is changing the way we approach healthcare.

What is AI?

Let’s separate that original image of what artificial intelligence is and bring it down to real life. Artificial Intelligence is really just a term to describe technology that can perform a specific task just as well as, if not better than, humans.

Clinical Applications

AI has already proven its ability to improve the speed and accuracy of diagnosing diseases. Specifically, AI has been used in radiology and image examination. It can be used to capture anomalies in images for radiologists to review. This frees up the amount of time spent reviewing every single image. Instead, radiologists are notified of areas where they need to examine further for problems.

Recently, Amazon announced its newest development in healthcare and AI—Comprehend Medical. This new technology is able to read through all of a patient’s medical records and valuable insights from that data. This is exciting because of the possibilities it presents, such as identifying people who could enroll in clinical trials, or finding improvements in treatment models. However, their are many privacy concerns surrounding this new development, and the full implications are unclear.

Back Office Applications

Even if some of the clinical applications of AI take awhile to adopt, there are plenty of opportunities and advancements happening right now in the back office operations of the medical field.

AI has made great improvements to the efficiency of revenue cycle management. In the past, you had to manually read and review every single claim before submission to make sure it was coded correctly. Now, with rules-based technology, time is saved, and human error is prevented.

The possibilities for what can be achieved in healthcare with advancements in AI technology are endless. Things like robotic surgery and virtual nurse assistance are being developed and have the potential to make big improvements to the healthcare world, but AI is already being used in medical practices to improve workflows. To learn more about how you can use technology to improve your revenue cycle outcomes, schedule a free revenue cycle analysis.