“Invisible revenue cycle compliance and performance threats are the largest risks to a healthcare organization’s financial integrity. If undetected, these lead to poor payer relationships, payer recoupments, lower revenue, fines, audits, adverse contractual agreements, and, unfortunately, low industry reputation. The sooner you detect these threats, the less damage they can do.
Thankfully, recent innovations in the healthcare financial space have leveled the playing field in favor of laboratory executives. With the real-world application of artificial intelligence (AI) and machine learning (ML) in the medical laboratory revenue cycle, laboratory executives can detect compliance and revenue performance threats in near-real-time, protecting their revenue performance and compliance, all while keeping existing investments in billing systems and revenue cycle management (RCM) partners. This may come as welcome news to laboratory executives who are caught in a costly reactive approach to lab claim denials, rejections, appeals, and other anomalies.
A new complimentary webinar from Dark Daily brings case examples of revenue management improvements gained from AI/ML in diagnostic laboratory billing, including compliance, operational key performance indicators, and actionable executive reporting. The free webinar will feature revenue cycle leaders who have leveraged advanced AI/ML to identify revenue performance and compliance opportunities, while proactively addressing and remediating financial issues that all labs face.”