Why AI is such a promising tool for eliminating a hospital’s revenue leakage
Hospitals today continue to experience revenue leakage, defined as the unintentional loss of income due to inefficiencies, missed billing opportunities and underpayments. Despite their significant investment in electronic health records (EHRs) and billing systems, they continue to lose about 3% to 5% of net revenue annually, amounting to tens of billions of dollars across the…
AI coding at UMass Memorial tempers staffing shortage
UMass Memorial Medical Center’s radiology department has been able to sidestep a lack of bill coding professionals by adopting AI in the medical center’s coding for radiology. “It’s really hard to get certified coders these days,” said Barbara Scully, associate vice president, physician billing with UMass Memorial, which is located in Worcester, Massachusetts. “It’s one…