Increasing Efficiency in Revenue Cycle Management Through Innovation Presented by Setu Patel
As presented at our 2022 Healthcare Innovation Workshop March 30th-April 1st, 2022
The implementation of machine learning, artificial intelligence and robotic process automation has led to significant improvements in productivity and quality in the revenue cycle without compromising compliance.
During the session, Setu will introduce the concept of digital transformation and four key components that can have a real-world impact on the revenue cycle. The discussion will include practical implementation information, including some of the difficulties faced and how these challenges were overcome.
Setu will share a case study that illustrate how companies have achieved a 25% productivity gain for provider accounts receivable functions, implemented a data driven approach to coding which reduced processing time from days to hours, and adopted a machine learning approach to quality.
- Describe Digital Transformation through relatable real-world examples.
- Identify and explain four key components of Digital Transformation – Machine Learning, Robotic Process Automation, Artificial Intelligence and Visualization.
- Understand how these components can be used in RCM through illustrative examples.
- Understand at an introductory level some of the practicalities of adopting Digital Transformation solutions to improve costs, accuracy and/or compliance.
Setu Patel is a Senior Vice President at Apexon Health, responsible for developing and directing technology-enabled back office services for healthcare provider and payers. Setu is passionate about developing realistic solutions for RCM and is currently focusing on applying the latest automation techniques to Apexon Health’s Revenue Cycle Operations, a team that is responsible for $3 billion of managed revenue.
Five years ago, Apexon formed a team of clinicians, data scientists, revenue cycle operations managers, quality managers, statisticians and software architects to drive digital transformation of revenue cycle operations. The flagship solution helps customers reduce costs, improve cash flow and increase client satisfaction.