Like many heavily regulated industries, healthcare has seen limited progress towards the use of artificial intelligence (AI) and automation, despite the enormous potential they hold for improving productivity, accuracy, care access, and the bottom line. Much of that promise comes from use cases that span the revenue cycle management (RCM) continuum, where legacy automation tools are already having a positive impact through activities like patient reminders, insurance verification, coding, and claims status transactions.
Today, generative AI (GenAI) is poised to upend, in a positive way, healthcare’s approach to front- and back-end financial operations. It has the potential to re-imagine the massive volumes of historical and real-time revenue-related data that is flowing through RCM departments and create entirely new approaches to optimize revenue and minimize financial risk.
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