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Using AI in Rev Tech and Finance: Watch the Misconceptions

Analysis  |  By Jasmyne Ray  
   August 15, 2024

Seth Katz of University Health KC says healthcare organizations should train staff to take charge of their AI programs and understand what the technology can and can’t do.

Seth Katz is worried that misconceptions about AI will hurt adoption.

Katz, vice president of revenue cycle and health information management at University Health KC and a participant in the HealthLeaders Mastermind program on AI in revenue cycle and finance operations, says most current uses of the technology do address some critical pain points.

“If we can automate [redundant tasks], that’s still a win,” he says. “I want them to spend more time fighting a payer on an issue and not pulling information out of the EHR.”

But not everyone understands how to use AI properly.

One misconception, he says, is the belief that if a process is automated, it can be left alone. Accountability and oversight are still needed for these solutions, regardless of their capabilities.

“This is not about reducing headcount. In some ways, it’s about avoiding future expenses,” he explained. “It’s about avoiding the cost in the future of having to expand staff.”

Another misconception, he says, is that AI will eventually replace staff altogether. And that presents an opportunity that can benefit the organization and individual staff.

As more organizations implement these solutions into their revenue cycle operations, staff working alongside them will be empowered to take ownership of the technology, Katz says. With this strategy organizations won’t have to rely as much on outside support, and staff can increase their marketability with their knowledge and experience.

“The great thing about this [technological] revolution we’re going through is there are no real experts,” Katz said. “It absolutely makes staff marketable.”

Executives should also build on their knowledge of rev tech as they continue to evolve and grow in their capabilities, he says. Doing so will enable them to proactively develop strategies and a governance structure for future implementation and support of future solutions.

That being said, organizations shouldn’t rush into automating a process just to do so. These solutions are intended to supplement the processes already in place, and if those processes are broken, the investment will have been for nothing.

In the meantime, as more vendors join the marketplace, Katz says accountability should be front of mind for all organizations.

“[Vendors] need to take some level of ownership for what happens with their AI or automation,” he says.

“There has to be someone who at the end of the day, if [the solution] messes up, if it’s doing something wrong, if denials go up, they are accountable for it; and that should be the vendor.”

The HealthLeaders Mastermind series is an exclusive series of calls and events with healthcare executives. This Finance and AI Mastermind series features ideas, solutions, and insights on the current capabilities and future potential of RCM solutions in revenue cycle operations.

To inquire about participating in an upcoming Mastermind series or attending a HealthLeaders Exchange event, email us at exchange@healthleadersmedia.com

Jasmyne Ray is the revenue cycle editor at HealthLeaders. 


KEY TAKEAWAYS

Accountability and oversight are needed, even when a process is automated.

Automation can't fix broken processes, so it's important that leaders have a solid foundation in place for implementation.

Vendors should be held accountable for the performance of their solutions.


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