Revenue Cycle Management
The bottom line is hospitals' operating cash flows and margins will improve and revenue growth will slightly top expenses.
AI has the potential to change the competitive landscape, but models that are not plug-and-play will take years to integrate into business models.
Optum will assume responsibility for ProHealth Care's rev cycle management, IT, informatics, analytics and inpatient care management.
Advocate, Hackensack Meridian, Intermountain, Mass General Brigham, Memorial Hermann among those in National Independent Provider Ecosystem.
HIMSS23
Providers can get ahead of the bill to better communicate payment options, say Sphere Chief Revenue Officer Ryne Natzke and Chief Product Officer John Welch.
Some futuristic day there will be no need for a back end to the revenue cycle, but until then, give patients a two-way conversation.
It's important to have IT and operations work together and to get employees onboard, say experts speaking at HFMA.
Health systems need vendor goals, communication and improvement plans, say revenue cycle experts.
AI robots at Multicare evolve in their learning of tasks such as picking up supplies and making lab deliveries, says CFO James Lee.
Physician-trained AI can recover millions in lost revenue by reducing denials, says Dr. Michael Gao, CEO and cofounder of SmarterDx.