Every year, hospitals across the United States, regardless of their size or type, face significant financial losses amounting to hundreds of billions of dollars due to uncompensated care. This staggering figure does not even consider the additional losses incurred by hospitals as a result of underpayments from government-funded healthcare programs such as Medicare and Medicaid.
As healthcare organizations grapple with rising costs, eroding financial margins, ongoing labor shortages, and
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Robotic Process Automation (RPA)
Clarapath and Mayo Clinic Partner to Modernize Pathology Labs with Robotics, AI & Automation
What You Should Know:
- Clarapath, a medical robotics company on a mission to transform tissue processing in pathology labs, has announced a strategic collaboration with Mayo Clinic, a world-renowned leader in medical care and research.
- The strategic partnership marks a significant step towards a new era of automation and efficiency within pathology labs.
The Challenge: Manual Processes and Rising Demands
For decades, pathology labs have relied on manual,
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The ‘Holy Grail’ of Coding Automation: Why Inpatient AI is Around The Corner
Autonomous inpatient coding. This may sound like a pipe dream for revenue cycle leaders, whose hopes were likely raised and crushed in the early aughts. But it's coming sooner than most think.
Why is true inpatient coding automation the "holy grail" – as Kerry Gillespie, a former CFO at Intermountain Health and now an executive consultant at Warbird Consulting Partners, said to me at a Healthcare Financial Management Association roundtable last year?
For decades, inpatient services have
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Banner Health Taps Regard to Deploy AI-Powered Clinical Automation Across Enterprise
What You Should Know:
- Regard, a provider of AI-powered clinical automation for Electronic Health Records (EHRs), today announced a significant expansion of its partnership with Banner Health.
- The enterprise-wide agreement will see Regard's technology deployed across all 33 of Banner's acute-care hospitals in six states throughout 2024.
Building on a Successful Pilot
Building upon a successful pilot program launched in June 2022 at Banner Thunderbird Medical Center, Banner Health
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Healthcare Hiring Crisis: AI and Automation Emerge as Lifelines in 2024
What You Should Know:
- A new report by GoodTime sheds light on how the industry is leveraging technology to combat this critical challenge. The U.S. healthcare system faces a looming workforce shortage, with a projected deficit of nearly 200,000 nurses by 2031.
- The 2024 GoodTime Hiring report offers a valuable glimpse into the current state of healthcare hiring. As the industry grapples with workforce shortages, AI and automation are emerging as lifelines, allowing healthcare
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2024: The Year of Smarter Automation and AI in Healthcare Revenue Cycle
Artificial intelligence (AI) dominated the headlines in 2023. It was the topic of countless articles, reports and even court cases. Some may be fatigued by it, or even afraid of it, but the reality is AI is here to stay in 2024. The best thing we can all do is learn how to leverage it to make our jobs easier.
In fact, after decades of slogging through manual processes, healthcare organizations are joining the movement and implementing automation and AI solutions to improve revenue cycle
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RPA Adoption: 74% of Hospitals Automate Revenue Cycle Tasks
What You Should Know:
The healthcare revenue cycle is getting a major makeover, driven by a surge in automation and artificial intelligence (AI). A new survey by AKASA, a leading developer of AI-powered revenue cycle automation solutions, reveals that 74% of healthcare organizations are already automating some part of their revenue cycle operations, and 80% of those not currently using it plan to do so by the end of 2025.
The Rise of the Robots
- Automation is no longer a luxury, but a
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Automation Fills Gaps Left by Revenue Cycle Talent Shortage
Healthcare providers are feeling the industry’s talent shortage in their administrative functions as well as clinical areas. One case in point: revenue cycle management. In a recent study, 63% of healthcare providers reported an inability to fill key revenue management roles. Reduced revenues and cash reserves are almost inevitable when providers don’t have sufficient staff to follow up on claims, manage appeals and help patients understand their financial responsibilities and
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Balancing AI-Enhanced Automation in Healthcare Revenue Cycle
Typically, hearing the terms “Automation or AI” elicits one of two responses-- an immediate sense of apprehension and avoidance, or a complete overestimation of its capabilities, though in some cases those two responses go hand in hand. However, neither view is particularly helpful as one is trying to understand the tremendous power of this capability and employ it in appropriate places within their business.
The truth is, automation and AI are here and they’re here to stay. Though there are
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3 Ways to Leverage RPA for Greater Value: Lessons from Healthcare
Despite assertions that healthcare is “burned out on talking about burnout,” the HIMSS 2023 presentations that have kept attendees talking long after the sessions ended included those that use automation to relieve workforce pressures.
From ways to support smarter, more seamless discharge to remote check-ins with tonsillectomy patients, use cases for automation ramped up considerably during the pandemic. That’s a trend that is poised for takeoff now that ChatGPT is dominating discussions at
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