The healthcare industry is primed for AI Innovations. One major application for AI would be to streamline back-end operations/revenue cycle management (RCM). RCM suffers from an overload of paper-based documentation and the lack of interoperability of data between systems. This results in redundant work compounded with heavy manual labor, either internally contracted or via a business process outsourcer (BPO).
Due to outdated data entry platforms, this process is fraught with errors that negatively affect remittance postability. AI with deep learning models can be applied to electronify paper remittances and explanation of benefits (EOBs/EOPs), correspondence letters (also known as denial letters), and patient payments, eliminating the manual processing of payments.
The following publication is a tremendous resource for delivering content to the healthcare industry: Modernizing RCM with AI.