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Inappropriate Denials By Medicare Advantage Organizations Is Widespread
HHS confirms what all hospital revenue cycle leaders have known for years, the inappropriate denials of services and payment by Medicare Advantage Organizations is widespread and persistent.
Rules Are Too Rigid For The Revenue Cycle
Automation (RPA) makes the revenue cycle more efficient — saving time and decreasing errors. While this is an improvement for health systems and hospitals RPA efficiencies are one-dimensional. Fully optimizing the revenue cycle and getting the most out of AI (including RPA) requires a clear and holistic view of payments, an understanding of the full lifecycle flow of claims.
Want To Add AI to Your Revenue Cycle? Data Intelligence is the First Step.
So you want to add AI to your revenue cycle? You have to start by establishing a solid foundation of data intelligence. This comes from normalizing and organizing payments data in a way that provides actionable insights. This works will establish the where/why/how of your AI goals.
Healthcare Providers Have Become Lending Organizations
Every day healthcare providers are extending credit in the form of care, and they have little idea whether, how much or when they will be paid. It’s time for healthcare providers to start deploying well-established data science and analytics tools to forecast payments and optimize outcomes.
6 Ways To Use Your Healthcare Payments Data To Improve Collections
AI, machine learning and predictive models are abstract terms in the revenue cycle. How do you actually move past the buzzwords and get value out of your healthcare payments data? Here are six ways healthcare providers and RCMs can truly operationalize healthcare payments data to improve patient collections and revenue cycle operations.
Filling The Gap In Revenue Cycle Reporting
Sift Healthcare's Rev/Track provides revenue cycle leaders with instant access to detailed intelligence that enables them to extract meaningful insights from their healthcare payments data -- information that drives better-informed decisions around revenue cycle operations.
Rev/Track Leverages AI To Improve Revenue Cycle Operations
Rev/Track leverages Sift Healthcare's AI and machine learning to help healthcare providers and RCMs to optimize revenue cycle operations. Rev/Track delivers detailed intelligence around payments behavior, insurance denials, collection trends, patient segments and revenue cycle work efforts.
How Do You Optimize Patient Collections During COVID-19?
While triage around COVID-19 continues, patient bills are going to pile up, cash on hand is going to dwindle and a more significant number of patients will struggle to pay their medical bills. Now is the time to be strategic and truly commit to being a flexible payment partner for patients. The starting point? Data analytics. Which easily dovetails into machine learning, both providing a powerful advantage for patient collections.
The Impact Of The Chief Innovation Officer
Hats off to the Chief Innovation Officers. 97% of health systems that have Chief Innovation Officers also had positive operating margins. For healthcare providers, a commitment to innovation and strategic change improves the quality of care, patient experience and financial performance.
