In the age of AI, many people find it difficult to imagine the future of healthcare (AI). There has been much discussion about the impact of artificial intelligence (AI) on the healthcare industry. In general, AI assists healthcare providers in streamlining their DME/HME billing practices. Machine learning-powered AI tools aid in the management and analysis of patient data, thereby improving healthcare in general.
Let's talk about how this technology can help you improve the revenue cycle and its impact on HME billing and coding.
- Streamlining the HME billing workflow
AI simplifies the HME billing process by delivering accurate data at the appropriate time based on priority. The regular interaction with users and dealing with top class billing software have the most significant impact on expert billers and coders.
With the help of AI, patient information can be automatically retrieved and manipulated, reducing the time spent on manual billing tasks and allowing HME billing experts to make better decisions about medical claim denials resolution.
- Accurate medical coding
The ability of AI to analyze written and spoken language will be an important characteristic. Systems can pick up on the word used in procedures and diagnoses and assign proper codes. This functionality might have a significant impact after code set modifications, making sure that the correct codes are utilized and documentation is compliant.
Thereby minimizing the time it takes to move from one code set to the next. Consider how much easier the changeover from ICD-9 to ICD-10 would have been if artificial intelligence had been implemented!
- Enhanced customer service
Not only will AI be used in healthcare, but it will be used in all industries. Bots that are used for patient interactions such as appointment scheduling and payment collection could have a significant impact on how patient communications are handled.
One of the biggest advantages for providers and billers is that the process can be standardized, which reduces the number of difficult patient billing interactions and potentially improves the patient-billing staff relationship.
- Industry-specific modification
Every year, the CPT and HCPCS codes undergo some changes. DME/HME billing experts should focus on coding updates that should be reflected in billing charges to achieve this. Medical billing service providers must adapt to these changes and devote more time to learning new codes. Due to new coding updates, in-house medical billing staff may make coding errors. AI can help improve and smooth the progress of these changes in a variety of ways.
- In-depth denial analysis
In the future, AI will undoubtedly increase efficiency and profitability. However, an even bigger opportunity for revenue growth may lie in AI's ability to analyze data and make learned decisions. An example would be a situation in which denials are increasing due to a lack of
- Medical necessity
- Lack of documentation
- Coding errors
AI would analyze the denials to determine the root cause, and then create prompts within the EHR/PM to:
- Correct the issues
- Capture all information for proper coding
- Make sure that the provider's notes are complete
Sunknowledge: Utilizing AI for HME Billing
With the use of cutting–edge technologies and top of the line HME billing softwares, Sunknowledge has been regarded as the premier billing service provider.
Our experts ensure that all of our clients have robust insurance and verification processes in place, as well as rigorous checks, resulting in 99.9% accuracy. Employees who have been trained to work with all major HME billing software are available for only $7 per hour.
Unlike any other RCM vendor in the healthcare industry, our team can assist remotely during pandemics. We have maintained our position as the most productive company in the industry. Due to our dedicated resources, we provide unrivaled and continuous 24x7 supports to all DME/HME billing clients.
So, if you're looking for seamless HME billing services, get in touch with a Sunknowledge expert to learn more about how we can help you manage your billing more effectively.
Hence to conclude, AI advancements have the potential to benefit not only healthcare providers and HME billing staff but also payers. According to CMS, the overall improper payment rate for the fiscal year 2018 was 8.12%, or $31.62 billion. Significant savings from ‘smart' AI systems have the potential to save payers money, lowering the overall cost of healthcare for patients.