NCHIMA | Revving Up Revenue Cycle AI, Automation, and a Lean Workforce – Lunch and Learn

Automation is increasingly paramount as healthcare organizations continue to battle complex challenges in revenue cycle management (RCM), including ongoing staffing issues and growing strains on operational margin. And while achieving a lean approach to billing and collections begins with an understanding of how effective revenue cycle teams are in their work, most financial executives lack visibility into fundamental metrics such as the number of “touches” or units of work a claim receives before it gets paid.

Without a full understanding of where and when touches are happening in the revenue cycle, all too often, the answer is to throw “more bodies” at challenges all of which is digging deeper into margin and is not sustainable in the current healthcare climate. What revenue cycle leaders really need is to provide solutions to empower staff to work smarter and reduce the amount of manual work creating more capacity and maximizing existing labor.

This presentation will explore how multiple organizations have implementing an infrastructure built on workforce automation and intelligent analytics to address revenue cycle inefficiencies— from front-end registration to back-end billing and collections. Participants will learn how, by focusing on reducing the number of human touches, these healthcare organizations have created 30% more capacity in its revenue cycle team, reduced front office denials by 50% and benefitted from a 15% improvement in zero-touch rates—a key performance indicator that illustrates the percentage of claims that get paid without any human intervention.

Additionally, participants will learn how visibility into daily work effort allowed them to identify top performers and incentive staff for improved productivity and outcomes.