Revenue Cycle Management

Most CFOs are not looking to technology or AI as a solution, says new HFMA report.

As revenue cycles increasingly depend on patients to pay their healthcare bills, AI digital engagement increases the collection rate, says  Dugan Winkie, head of Commercial Strategy at Cedar.  

AI recommendations in coding capture 100% of what’s sent out versus a manual process in which when staffers select subsets of encounters from within hundreds of documents, says AKASA CEO and cofounder Malinka Walaliyadde.

Virginia-based health system has selected Ensemble, joining numerous other hospitals that are outsourcing some or all of rev cycle operations.

Denial rates have steadily increased, with providers seeing rejection rates as high as 10% to 15%.

The expectation is AI will be widespread in revenue cycles within five years.

Executives' highest priority for revenue cycle investment is technology, such as AI, automation and machine learning.

Redundancy essentials are needed in every area, including vendors, as the Change attack showed the ancillary impact on healthcare, says Greg Surla, senior vice president and chief information security officer for FinThrive.  

Controlling the runaway cost helps get treatment to more than the current 10% who get help now, says Dr. Yusuf Sherwani, CEO and cofounder of Pelago.  

Mike Vigo, chief revenue officer at UCSD, addresses the "Revenue Cycle Management Technology Adoption Model" at HFMA.