Healthcare Industry
It’s no secret to anyone who’s read previous posts here that artificial intelligence (AI) and machine learning are a boon for revenue cycle management — probably one of the strongest use cases for this type of technology, in fact, as reported by RevCycle Intelligence. “Integrating artificial intelligence into an RCM solution allows us to have data driven approaches to automate each step in the process, whether it’s when that first letter is going out, that first contact is happening, or that payment is going into a payment plan. Each step, there’s a model supporting that decision which helps a person to take the right action at the right time,” says Greg Allen, senior director of data science and product management at Ontario Systems.
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Stanford University’s 2021 AI Index Report is now available, and it goes into significant detail regarding Computer Vision, which is integral to the sorts of recognition tasks important in fraud detection and EOB processing.
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Hindsight is 20/20, but it turns out that many medical practices and providers didn’t put into motion much digital preparation pre-pandemic, and that places them in a current payments predicament. This is according to Colin Mellon, senior vice president of Healthcare and Insurance Solutions at Fiserv. During a PYMNTS TV Trend Talk, Mellon noted that “the pandemic…
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For healthcare providers, the decision of whether to handle revenue cycle management internally vs. outsourcing the function is not something be taken lightly. While there are pros and cons for each choice, the COVID-19 pandemic has complicated the decision even further. Medical Economics features an in-depth conversation with Anurag Mehta, president and co-founder of Omega Healthcare, about various impacts of COVID and how medical practices should adapt and rise to the challenge.
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BusinessWire.com notes that what was once simply good, forward-looking policy and practice has now become essential in the age of COVID-19 — “adoption of digital and accelerating the existing trend among providers and payers seeking to enhance operations, cut costs and better engage with stakeholders,” according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm (Customized versions of the report are available from NTT DATA, Persistent Systems and UST.)
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Earlier this week Dr. Bob Wachter, the Chair of Medicine at UCSF and author of New York Times bestseller The Digital Doctor: Hope, Hype and Harm at the Dawn of Medicine’s Computer Age, shared a discussion with Dr. Muthu Alagappan, Medical Director at , to explore tested strategies for using AI and automation to get the most out of your EHR data and, as a result, thrive in the post-EHR era. A recording of the discussion can be viewed here.
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UnitedHealth’s information and technology-enabled health services subsidiary Optum — a nonprofit physician group that operates 30 medical practices offering primary care, more than 50 specialties, plus imaging, lab, and pharmacy services to the Boston area — is set to acquire Massachusetts-based Atrius Health, according to The Boston Globe and reported at HealthcareFinancenews.com. Meanwhile, Ensemble Health Partners announced that the United States Patent and Trademark Office has granted three additional patents to the company for its innovative automation technology — that brings the total of Ensemble-approved patents to five.
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Brandon Sim, the chief technology officer and chief operating officer at, a tech-powered healthcare management company, says the time to fully implement artificial intelligence and machine learning is now. From Healthcare Finance: “Especially because recent CMS regulations are going to force electronic health record companies to share their data in a more reasonably accessible fashion,” Sim said. “Just the sheer amount of data that is being collected – the rise of alternative sources of data like remote patient monitoring and wearable devices – make it a very natural fit for using machine learning and AI methods in healthcare.”
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An excellent article by Giri Rajaiah, Executive Leader and Vice President for Global Healthcare and Life Sciences at DISYS, takes a look at how automation is absolutely essential to any healthcare organization that wants to remain relevant in today’s — and tomorrow’s — healthcare ecosystem. The ongoing COVID-19 pandemic has brought the immense pressure the U.S. healthcare system is under into sharp focus. Recent dynamics are compounded by the industry’s efforts to adopt newer ways of working and digitizing patient records, while implementing automation throughout their business processes to increase overall efficiency and productivity.
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Are you ready for the wave of changes coming to healthcare? As is to be expected when a new administration takes over in Washington, the first 100 days of President Biden’s presidency are likely to bring a number of changes for employer-sponsored health and welfare plans, says Debra Hoffman and Stephanie B. Vasconcellos of Mayer Brown in their blog at Lexology.com.
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