Healthcare Finance News July 5, 2023
It’s important to have IT and operations work together and to get employees onboard, say experts speaking at HFMA.
NASHVILLE – Automation, particularly through AI, holds the promise of greater efficiency and fewer denials in the revenue cycle.
There’s $9.8 billion in potential savings through automation in the revenue cycle, according to statistics provided by TruBridge, a consultant and IT services provider. Nine percent of all claims are rejected in error or from prior authorization denials; 23.9% of denials are due to eligibility issues.
Seventy-five percent of hospitals are working on an AI strategy to tackle revenue cycle challenges, said Patrick Murphy, general manager of TruBridge and the former CFO of a health system in Alabama.
Speaking at the HFMA...
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