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Unlocking the Power of Interoperability for Revenue Cycle Management

Healthcare IT Today

Interoperability is game-changing not just in a clinical setting, but it holds tremendous potential for healthcare’s financial stakeholders as well. Prioritize Intake for Effective RCM Patient intake is an important part of the revenue cycle process. The earlier and more seamlessly we can engage, the better.”

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GenAI in Healthcare: Catalyzing the Revenue Cycle Management Transformation

Healthcare IT Today

Revenue Cycle Management (RCM): The Strongest Use Case of GenAI in Healthcare The financial backbone of healthcare, RCM, entails everything from payments and pre-authorization before treatment to reimbursements, compliances, and interoperability with other systems. Such applications go beyond automating repetitive tasks.

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Improving Revenue Cycle Management with True AI and Machine Learning

Healthcare IT Today

Ultimately, the integration of true AI and machine learning in RCM contributes to greater accuracy, reduced denials, and a better patient experience. The best RCM work is eliminating the work itself, and if the work cannot be eliminated then it’s about automating the work through AI and machine learning models.

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Bonus Features – April 9, 2023 – 63% of RCM departments face staffing shortages, small Stanford study shows 90% of GPT answers in clinical setting are “generally safe,” and more

Healthcare IT Today

A study from CWH Advisors and Synchrony found that 63% of providers have RCM staffing shortages , and 61% expect to work with third parties for help. Product and Company News Interoperability company Lyniate rebranded as Rhapsody , which was the company’s original name before its 2019 merger with Corepoint Health.

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6 Essential Criteria for Making Confident AI Vendor Decisions

Healthcare IT Today

The following is a guest article by Austin Ward, Head of Growth at Fathom In the face of workforce shortages and increasing cost pressures, many organizations are turning to AI technologies to automate revenue cycle management (RCM) processes. Automation Rate The most important criterion for AI in RCM is the automation rate.

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WellSky Acquires Corridor, Expands Commitment to Offering Best-in-Class Coding, Revenue Cycle Management Services for Post-Acute Industry

Healthcare IT Today

By adding Corridor to its portfolio, WellSky will expand its medical coding and revenue cycle management (RCM) offerings to help care providers increase efficiency and improve performance across clinical, financial, operational, and compliance areas.

RCM 118
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Bonus Features – January 28, 2024 – 49% of orgs likely to invest in RCM tech in the next 18 months, v2 drafts of TEFCA Common Agreement and QHIN Technical Framework out, plus 27 more stories

Healthcare IT Today

About half (49%) of healthcare professionals are likely to invest in new RCM technology in the next 18 months , according to Salucro’s Healthcare Provider Fintech Insights Report. News and Studies The Sequoia Project released a bundle of TEFCA draft documents , including v2 drafts of the Common Agreement and QHIN Technical Framework.

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