GenAI in Healthcare: Catalyzing the Revenue Cycle Management Transformation
Healthcare IT Today July 30, 2024
The following is a guest article by Ravinder Singh, Senior Vice President, Consulting at CitiusTech
In recent years, Generative Artificial Intelligence (GenAI) has passed medical exams, diagnosed complex cases, and even come up with ways to combat a pandemic. In fact, LLMs such as GPT-4, Google’s BARD, Med-PaLM, ClinicalBERT, and BioGPT now perform complex tasks that can completely transform clinical decision-making and administrative efficiency. Unsurprisingly, GenAI in healthcare is expected to reach USD 22.1 Bn by 2032, driven by the demonstrated value in improving diagnostics, replicating patient responses, simulating disease progression, and synthesizing datasets for testing and training.
Revenue Cycle Management (RCM): The Strongest Use Case of GenAI in Healthcare
The financial backbone of healthcare, RCM, entails everything from payments...