Forget Planning for Tomorrow: How Analytics, AI and ML Can Streamline Revenue Cycle Management Today

A vortex of trends threatening health system finances have made using advanced analytics including artificial intelligence (AI) and machine learning (ML), to streamline the revenue management cycle, both necessary and inevitable.

By automating important – but also routine – RCM tasks, health systems can free staff to work on more productive, highly-complex endeavors that require human intervention, while reducing labor costs, mitigating preventable revenue leakage and improving the overall patient experience.

AI algorithms “learn” by performing repetitive, high-volume tasks and building knowledge as they complete those tasks over time. Intelligent analytics and workflow powered by AI & ML can handle larger and more complex activities as they gain more experience – with the ultimate goal of approximating human intelligence to quickly solve complex problems. AI and ML are at their best when automating tedious, high-volume tasks that are repetitive and prone to human error.