Artificial intelligence (AI) is a welcome addition to the practice of revenue cycle management. It improves efficiency, lowers the risk of error, and provides predictive analytics to help make smarter, more informed financial decisions. AI also benefits patients in the form of more timely and accurate claims processing. And when the billing process goes smoothly, patient satisfaction increases, positively impacting an ASC’s bottom line.
AI has significantly advanced in the healthcare industry over the past two years, and it’s providing ample opportunities for ASCs to automate routine tasks that improve operational efficiency.1,2 For example, ASCs can use AI tools to perform manual, time-consuming tasks that previously fell to billers, such as submitting claims based on patient data and provider documentation, verifying insurance eligibility, providing coding assistance, or posting payments. All of this greatly increases accuracy, saves time, and reduces administrative burden. This frees up capacity for those on staff to focus on more strategic thinking that’s best left to human minds. For example, when reviewing data quality, humans usually have outside context – such as knowledge of a specific business need or situation – that might not be available through an algorithm. Similarly, humans are better at understanding ambiguity. Where AI might not be able to make sense of incomplete data, a human can fill in the gaps and maintain the human touch in RCM.
Human Judgement + AI: A Recipe for Success
While AI excels at processing data and performing repetitive tasks, human oversight takes into account the nuances unique to healthcare, such as unique patient situations, ethical considerations, or regulatory complexities. This balance creates a powerful combination for ASCs to achieve a greater competitive edge through human-AI insights while simultaneously maintaining a steady workflow. Trained with human input, AI can become an especially useful ally to busy ASC billing teams constantly evolving to keep pace with regulatory shifts and changing patient expectations. And further down the line, ASCs can leverage AI to analyze the financial health of the practice, detect payment delays, and pinpoint inefficiencies in the revenue cycle to lead to transformational decision-making.
Achieving This Symbiotic Relationship With The Help of in2itive
We at in2itive consider AI a critical part of the equation in modern revenue cycle management. When deployed intentionally, AI can be used to focus on the manual, time-consuming tasks that often lead to staff burnout, in turn freeing up staff for the more complicated tasks and decision-making that only a human brain can tackle. However, knowing when and how to adopt new technology while simultaneously running an efficient practice is a challenge for any ASC. By partnering with in2itive, an ASC-focused revenue cycle management (RCM) firm, you can create a customized AI solution for your ASC that boosts efficiency and transforms how you do business and provide quality patient care.
Ready to explore how you can balance new technologies with your current billing processes to maximize billable revenue? Schedule a consultation with in2itive to discuss customizing a solution for your ASC that combines technology and the human touch in a way that benefits patient satisfaction, team satisfaction, and your bottom line.
Sources:
- Ambulatory Surgery Center Sample Pages. (2023). HIDA Research & Analytics, 1-6. https://www.hida.org/uploadedfiles/research/market-reports/2023/samples/ambulatory-surgery-center-sample-market-report-dec23.pdf
- AI/ML: Reshaping Health Care. (2023, August 15). Morgan Stanley. https://www.morganstanley.com/ideas/ai-in-health-care-forecast-2023
