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Close to 60% of providers who responded to an HFMA survey say they have yet to implement AI or automation in the revenue cycle.
The health system expects over $40 million in net revenue improvement on an annualized basis.
Leaders are counting on genAI for financial improvement, but many health systems have yet to adopt it for RCM, report says.
Executives say they’re underprepared for challenges ranging from AI to cost containment.
Baptist Health Chief Revenue Officer says the health system will often eat the cost of a service rather than delay care.
Governance is lacking even though 71% of survey respondents have identified and deployed AI solutions.
The ultimate goal is to streamline documentation and coding in the mid-revenue cycle.
The organizations will form a joint task force to evaluate and accelerate potential AI projects and opportunities.
"Health systems have reason to worry," says consultant Michael Abrams of Numerof.
New AI startups are facing difficulty getting off the ground even as the industry leans hard into the technology.
