A healthy, stable revenue cycle is crucial to every healthcare organization’s success. However, managing the revenue cycle takes experienced coders, complete documentation, and timely resolution of denials.
Administrative processes account for about 30% of U.S. healthcare costs, which means that all areas of a patient encounter, from check-in to billing and claims, are potential targets to obtain greater efficiency.
In the past 20 years or so, computer-assisted coding (CAC) has become a fixture in healthcare organizations of all sizes. Its use of natural language processing (NLP) to analyze medical documents and identify key terms and phrases brings other advancements of automation and artificial intelligence (AI) into the revenue cycle management (RCM) process.