Hear how technology change is influencing the denials management landscape.
What are some top revenue cycle trends you are seeing?
Jayson Yardley: “It's an exciting time. We’re seeing the deployment of entirely new technologies in the revenue cycle today. Healthcare has always been an area where technology was deployed on the medical side, and now we're seeing a lot of new technologies deployed on the business side of healthcare as well. So whether that's augmented reality, artificial intelligence, or machine learning––all of these great things are helping us to be more efficient and more effective. We're also leveraging technologies from other industries that we can now apply to healthcare as well. All of this technology change is really helping us on the business side of healthcare to be able to drive better results in a more cost-efficient manner.
"Better data access is also making a difference. In today's revenue cycle, we continue to find that insurance companies are able to really understand data and they're able to do so because they have the data from all healthcare providers across the country, especially if they're a national payer. As a result of that, they can create denials and create other challenges for hospitals and health systems to get paid for the services and the solutions that they have provided. We're able now to start to deploy technologies that help us to gather data from across either multiple providers or within providers to really be able to dive into that data and take a look at the denials that we're receiving. For example. we’re able to see how things like coordination of benefit denials or clinical denials are growing across the country and then create solutions for those (denials) that not only help resolve the denials that are presented but also identify the root issues of what might be creating those denials to ultimately prevent them from happening in the future. It might be a bit of a game where we're chasing the insurance companies on what denials they're creating, but we keep getting better as we keep getting better with data and all the tools related to that to help us with supporting hospitals and health systems across the country."