Artificial intelligence and automation can help with healthcare administrative costs by reducing the cost to collect, optimizing net revenue, and improving the patient financial experience, reports Forbes.
What you really need, it finally occurs to you, is AI to reduce administrative costs. You remember a conference you attended at a lovely resort at which Professor David Cutler, a renowned health economist from Harvard, was speaking. He said that administrative costs take a quarter to a third of total health-care spending in the U.S. He advanced several ideas for lowering costs related to the revenue cycle, prior authorization, and data clearinghouses. The CEO wasn’t sure, but he believed that the professor had mentioned that AI might be able to help with some of these approaches.
Read more in Forbes.