From Hospital CFO Report comes words of wisdom from seven industry RCM leaders.
The common threads? Heightened communication, empowerment of staff, and, of course, technology adoption and AI/machine learning. Check them out and see if any strike a chord with you and your organization!
In the meantime, Fierce Healthcare points out that AI and blockchain are the answer for prior authorizations, linking to a white paper by Myndshft Technologies.
Blockchain’s ability to clearly track and verify data and requirements is ideally suited to managing these tasks. With blockchain, payer and provider prior authorization processing information is shared electronically and standardized to the same protocols. In contrast, with electronic claims processing, supplemental information is often still shared by fax.
Meanwhile, artificial intelligence is the perfect solution to handle high levels of information-driven variation and complexity. AI can be leveraged to monitor and refine processes and make predictions to achieve even greater efficiencies.
AI has the potential to transform prior authorizations into an entirely patient-centric process. AI can mine data from lab, medication and claims data to recommend appropriate actions to preempt claim and prior authorization denial risks.
While AI has the “potential to transform” prior authorizations, deployment of AI in healthcare payments has already surpassed the “potential to transform” phase and is now revolutionizing payer remittance processing. Healthcare providers, clearinghouses, and RCM companies have many options to leverage AI and Deep Learning technologies to electronify healthcare payments. The result: slash labor costs and errors associated with paper and PDF-originated remittances.
This blog contains forward-looking statements. For more information, click here.