McKinsey July 25, 2023
As new technologies emerge, revenue cycle leaders can prepare to harness the potential of these capabilities by establishing the conditions for success today.
The financial pressures US health systems have long grappled with have worsened over the last several years.1 To be sure, productivity of administrative functions has increased to counter these pressures, but most of the gains over the last 20 years have been through labor, not capabilities or process improvement.2
Technologies such as automation and analytics—and more recently, generative AI (gen AI)—could help improve performance. In fact, research suggests that effectively deploying automation and analytics alone could eliminate $200 billion to $360 billion of spending in US healthcare.3...
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