ICD10monitor August 5, 2024
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, large language models (LLMs) such as GPT-4, Google’s BARD, and BioGPT now perform complex tasks that can completely transform clinical decision-making and enhance administrative efficiency. Unsurprisingly, spending on GenAI in healthcare is expected to reach $22.1 billion by 2032, driven by the demonstrated value in improving diagnostics, replicating patient responses, simulating disease progression, and synthesizing datasets for testing and training.
Let’s pivot to revenue cycle management (RCM), which has a very strong case for the application of GenAI and LLM in healthcare.
The financial backbone of healthcare, RCM, entails everything from payments and pre-authorization...
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