AI-powered coding solutions reducing costs and ensuring appropriate quality of care: Black Book survey

Clean Sweep Live Auction on Thur. Dec. 12th. Click to view the full inventory

AI-powered coding solutions reducing costs and ensuring appropriate quality of care: Black Book survey

Press releases may be edited for formatting or style | November 07, 2019 Artificial Intelligence
November 5, 2019 (Newswire.com) - ​​The healthcare industry is at the crossroads of widespread adoption of VBC models in a consumerism ecosystem along with increasingly stringent regulation, accurate documentation has become the key driver of hospital revenue systems.

Computer assisted coding (CAC) is a comprehensive technology that includes the amalgamation of various facets of artificial intelligence and natural language processing where CAC is capable of scrutinizing and interpreting unstructured clinician notes. The rigorous task of extracting identified data from documents to fit into established systems is no longer an issue.

44% of healthcare organizations already report using AI in one form or another, and 88% of surveyed C Suite officers expect widespread implementation in the next 5 years. IT leaders have been sent their marching orders to prepare to implement AI with a security-first mindset as the potential for hacking is high, but the potential benefits are massive.

THE (LEADER) IN MEDICAL IMAGING TECHNOLOGY SINCE 1982. SALES-SERVICE-REPAIR

Special-Pricing Available on Medical Displays, Patient Monitors, Recorders, Printers, Media, Ultrasound Machines, and Cameras.This includes Top Brands such as SONY, BARCO, NDS, NEC, LG, EDAN, EIZO, ELO, FSN, PANASONIC, MITSUBISHI, OLYMPUS, & WIDE.

In a survey of 3,300 coding and health records professionals from 278 hospitals and 1,889 physician practices by Black Book, 93% are optimistic that AI technology can streamline document creation and enable clinicians to capture a holistic patient history to boost outcomes but also improve revenue integrity.

An additional 405 provider respondents that have not yet fully implemented or optimally using coding, CDI and transcription technology provided insight on budgeting, adoption plans, factors driving coding and transcription decisions and vendor awareness.

Results reported from participating surveyed in the current year surveys:

Complex denials have dropped on average by the respondent hospitals 21% over the last 2 years ($250 million of hospital charges denied by payer in 2016, down to $198 million in 2018).

Coder Productivity Q3 2019 as compared to Q3 2017 has increased 55% in hospitals over 200 beds

88% of providers polled are eager to implement more sophisticated clinical documentation improvement tools that use artificial intelligence to boost the speed, accuracy and efficiency of coders.

New platforms embed AI-powered clinical intelligence in both standard clinician and CDI workflows, analyzing EHR notes and clinical data to find gaps and deficiencies before notes are saved to the EHR.

"AI-enhanced CDI also allows providers to explore new opportunities with payers because hospitals have the data to show where quality outcomes are performing best," said Doug Brown, President of Black Book. "Physicians are facing an increasing battery of measurements meant to drive quality, satisfaction and efficiency, but the complete and compliant evaluation and management coding is critical for physicians despite mixed reactions to measurements."

You Must Be Logged In To Post A Comment