RevCycle Intelligence October 31, 2023
Barriers to AI adoption are getting in the way of revenue cycle management success, but providers can take steps to ensure technology works for them.
About a third of hospital financial leaders have never used automation in revenue cycle operations. Nearly two-thirds of hospitals haven’t automated any part of claims denial management. And approximately a third of prior authorizations are completely manually.
These statistics aren’t from a decade ago. Rather, they were pulled from surveys and studies done within the last two years.
The medical industry could save nearly $25 billion, or nearly half of what it spends on administrative tasks, if stakeholders transitioned to fully automated processes, according to the most recent Index report from the Council for Affordable...
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