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How AI Can Optimize Accounts Receivable Management
Healthcare IT Today July 18, 2024
The following is a guest article by Connor Accurso, Data Science Senior Product Manager at R1
The pressures on healthcare providers – from labor shortages to rising costs to reimbursement delays – continue with little relief in sight. According to an AHA and Syntellis report, half of the 1,300 hospitals and health systems surveyed reported $100 million in Accounts Receivable (AR) for claims older than 6 months. Moreover, from January 2022 to June 2023, the median health system’s drop in cash reserves was 28% and the number of days cash on hand dropped from 173 to 124 days.
The constraints on both cash flow and cash reserves can have significant impacts. Case in point: The unforeseen Change Healthcare outage left...
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