It’s become increasingly difficult for healthcare provider organizations to maintain profitability. As labor and medical supply costs continue to climb unchecked, shrinking margins are cause for concern. And the payer mix continues to complicate the financial outlook for health systems, with many patients shifting from commercial insurance to Medicare or Medicaid. Over 30 million remain uninsured altogether due to changes in employment and household income. In 2020, hospitals lost $42.7 billion to uncompensated care—a number likely to increase if things don’t change.
Amid all these challenges arises a glimmer of hope—autonomous revenue cycle technology that combines human knowledge with artificial intelligence (AI) and robotic process automation. Leaders in this space are plotting a course toward forward-thinking innovation. Innovation that makes revenue management easier, faster and more accurate for all. That’s healthcare finance done right.
Download our insight guide for key takeaways on:
AI and automation opportunities across RCM
The value of an autonomous revenue cycle
5 simple steps to get you closer to autonomous revenue management
Learn how improvements can be made to your revenue management strategies.