Ingenious Med commissioned an independent survey of 101 finance and operations leaders to understand executives’ expectations about artificial intelligence, automation, and smart analytics for revenue cycle management (RCM).
The research findings show that many common revenue cycle challenges — general inefficiency, denials, charge lag, underpayments, and missing charges, among others — will continue to hinder healthcare organizations’ financial performance unless they develop strategies to overcome those obstacles. But there’s a new twist in our research: the results reveal that more than half of executives are planning to invest in AI for RCM within 1-3 years, an overwhelming majority believe AI will have a positive impact on their RCM processes, and 8 in 10 indicate AI will be widespread in revenue cycles within five years.
Survey respondents represent health systems, hospitals, physician practices, and ambulatory surgery centers. All participants were screened to ensure the leaders are directly involved with their organization’s RCM, financial compliance, billing, coding, and charge capture.
The infographic below highlights what the data relative to AI and smart analytics signal about the immediate future of revenue cycle management.
Download the Infographic here.
To learn more about how next-generation revenue cycle management is taking shape, and where leaders are looking to AI and other technologies to bolster their bottom line, download the complete report: From AI Optimism to Action: Where Health Systems, Hospitals, and Practices are Investing Now to Fortify Revenue Cycle Management.