From AI Optimism to Action: Where Health Systems, Hospitals, and Practices are Investing Now to Fortify Revenue Cycle Management
The newest Ingenious Med annual revenue cycle management (RCM) survey reveals that more healthcare leaders are investing in AI for RCM in the next 1-3 years than planned to do so in 2023, fewer say their organization has no AI plans on the horizon at all — and three-quarters of research respondents believe AI will be widespread in RCM within five years.
Our research surveyed 101 CFOs, revenue cycle, finance, operations and other leaders at hospitals, health systems, physician groups, and ambulatory surgery centers. The results also illustrate that today’s executives are looking toward AI and smart analytics to solve the most pressing and persistent RCM challenges and to drive double-digit revenue growth across multiple RCM functions.
Additional Key Findings Include:
- 82% of survey respondents say AI will have a positive impact on revenue cycle management
- 43% are planning to implement AI within 3 years — up from the 27% in 2023
- 71% say AI can effectively address the most pressing RCM issues
- 85% say AI can perform well at managing payment-related process in the revenue cycle
- 73% agree AI will be widespread in RCM within 5 years — up from 60% in 2023
“Implementing AI to reduce the human interaction required can accelerate and standardize many aspects of the revenue cycle, inject predictive features that assist with coding, maximize reimbursement for every claim, and enable us to realize more revenue with the same effort,” a survey participant says.
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To access the full research results and analysis, download the report: “From AI Optimism to Action: Where Health Systems, Hospitals, and Practices are Investing Now to Fortify Revenue Cycle Management.”