Automated Intelligence is slowly cementing itself in the middle of the revenue cycle.
The predictive capabilities of AI solutions enable health systems to use them in administrative and clinical settings. Considering how data heavy revenue cycle operations are, alongside the difficulties in hiring and retaining medical coders, it’s popularity isn’t a trend—it’s a remedy.
According to a 2023 Medical Group Management Association Stat poll, 34% of medical group leaders said they were having difficulty hiring medical coders. The Bureau of Labor Statistics also estimated that around 12,300 medical records specialist roles are to be created between 2021 and 2031.
Many revenue cycle leaders feel that coding and areas like denials management require more expertise than other parts of the revenue cycle, implementing AI solutions can save them time and money.
In 2023, Henry Ford Health integrated AI into its bedside procedures to assist with medical coding. The system performs over 700,000 bedside services each year, making it one of their highest volume specialties, accounting for 20% of overall coding costs.
“Because staffing is at a premium, by automating our bedside visit coding, we can shift resource to other areas of need,” Joann Ferguson, the system’s vice president of revenue cycle, previously told HealthLeaders.
“Regarding the big picture on the people side of Henry Ford Health, it reduces the daily workloads on physicians, medical coders, and billing administrators, driving better financial and operational performance while improving our coders’ job satisfaction.”
In addition to increasing workflow efficiency, implementing AI has enabled the system to address gaps in their patient experience and identify charge gaps.
Jasmyne Ray is the revenue cycle editor at HealthLeaders.