A Boost To Better Manage Healthcare Revenue Cycles - AI Summary

From spiraling claim volumes to more stringent payer requirements and increasing reporting obligations, today's health practitioners face higher challenges than ever. As a result, diagnostics providers across the country are effectively looking for new revenue streams, improved payer relations, cost-cutting opportunities, and more predictable reimbursement rates. For example, high-quality and carefully designed data sets facilitate improved analytics, and the use of Artificial Intelligence (AI) can expedite the Revenue Cycle Management (RCM) process while also enhancing financial and operational performance. Council for Affordable Quality Healthcare, Inc. (CAQH) used data from medical plans representing nearly half of the US insured population to find that electronic prior authorizations adoption rose by just one percentage point to 13 percent from 2018 to 2019. For years, visionary healthcare providers have been using technology to improve care for people suffering from sleep problems, eye illness, cancer, and now, even COVID-19.