Bill Arneson of Moffitt Cancer Center explains how an AI tool for medical necessity appeals cut the cost to work a claim from $50 to $5, helping his team recover $500,000 in claims that would have been written off.
Moffit Cancer Center has demonstrated an effective use of AI in automating the appeal process. In this episode of HL Shorts, Bill Arneson, Director of Business Operational Transformation at Moffitt, explains how his organization invested in an AI tool for medical necessity appeals and saw a significant and immediate financial return.
Luke Gale is the revenue cycle editor for HealthLeaders.
KEY TAKEAWAYS
AI has allowed Moffitt Cancer Center to lower its cost to work a medical necessity denial appeal from approximately $50 to just $5.
This cost reduction enabled the revenue cycle team to pursue low-dollar claims that were previously written off as not worth the time or effort.
In less than one year, the new AI appeals product allowed Moffitt to collect $500,000 in revenue that it would have otherwise written off.