5 keys to enhancing automation, expanding capacity and improving efficiency to reduce costs
Healthcare organizations face unrelenting financial pressures, with rising costs and shrinking margins. Dealing with reimbursement challenges, they face an uphill battle to maintain a profitable revenue cycle. This leaves no room for inefficiency. There is a way out, but healthcare leaders must look beyond traditional methods to automation to expand capacity and improve operational efficiency.
How AI and automation are revolutionizing revenue cycle operations for faster, more accurate reimbursement
Revenue cycle management (RCM) is a critical component of healthcare operations, yet providers face mounting challenges in ensuring timely and accurate reimbursements. Manual processes, evolving regulatory requirements and administrative inefficiencies contribute to revenue leakage and operational burdens. Traditional RCM processes are labor-intensive, relying heavily on manual billing, coding and claims submission. These inefficiencies not only…
UChicago Medicine grows into role of AI innovator
UChicago Medicine discovered that they are ahead of other healthcare institutions in their use of AI for revenue cycle, and they are focusing on using AI to strengthen business outcomes, supporting a culture of AI innovation, implementing a governance framework, and measuring and optimizing performance.
Annual Conference Day 3: UnitedHealth, Optum executives discuss resilience strategies for healthcare
Especially after being on the front lines of the most impactful cyberattack to hit the healthcare industry, leaders with UnitedHealth Group (UHG) and Optum have plenty of thoughts on how stakeholders can shore up their defenses. UHG is the parent company and Optum a sister company of Change Healthcare, which was the target of a…
Annual Conference Day 2: Keynote speaker Suneel Gupta expounds on the importance of recharging
Rest and breaks from work should be viewed not as a reward, but as a resource that supports performance, Suneel Gupta, wellness CEO, best-selling author and visiting scholar with Harvard Medical School, told HFMA Annual Conference attendees during Tuesday’s keynote presentation in Las Vegas. “When we look at the science behind human performance, what we…
Personalized communication helps State provide the highest possible recovery and patient-satisfaction rates for clients
Learn about a company that combines advanced technology with human interaction to increase recoveries and patient satisfaction.
HHS issues regulations to strengthen anti-discriminatory protections in healthcare (updated)
July 3 update A judge with the Southern District of Mississippi federal court granted an injunction preventing the Biden administration from enforcing regulations expanding anti-discrimination protections in the Affordable Care Act (ACA). Issued two days before the new rule was to take effect, the order applies to the provisions concerning gender identity. The move came…
The importance of digital transformation in a fraudulent environment
In this recently conducted survey, more than 85% of responding hospital financial executives said they are somewhat concerned (65.96%) or very concerned (19.15%) about potential AI-influenced fraud, including account takeovers and eventually payment fraud.
How healthcare finance organizations are working to become more resilient
Seven healthcare financial executives share their strategies for tackling the challenges of financial management in the current environment in this roundtable.
2024 outlook: Hospitals can expect a steadier year financially, but key questions loom
Although the past year brought more stability for the not-for-profit hospital sector, analysts foresee 2024 as a pivotal period in determining the viability of individual organizations. Fitch Ratings continues to describe the sector’s outlook as “Deteriorating.” In a year-end report, the credit-rating agency said downgrades of hospitals and health systems in 2023 had outpaced upgrades…