MedCity News March 10, 2024
As the healthcare industry grapples with various challenges, from workforce shortages to complex coding intricacies, embracing AI can empower revenue cycle professionals to envision a future with reduced denials, optimized revenue, and fortified financial health.
Healthcare is in the midst of an AI revolution, and that’s a good thing. At a time of rising hospital costs, labor shortages, and operating margins well below historical levels, revenue cycle executives need to evaluate their denials management strategy through the lens of artificial intelligence.
The steady increase in insurance claims denials has become one of the most significant financial trends affecting hospital revenue cycle performance. Recent analyses from Kodiak Solutions, formerly Crowe, revealed initial claims denials have jumped 11.9 percent year-over-year. Drawing on...
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