Knowtion Health

What role will AI play in healthcare revenue cycle management, and how are hospitals beginning to prepare? A Knowtion Health survey of hospital CFOs and revenue cycle leaders reveals AI-driven processes for denials management are minimal (49%) or non-existent (28%). But change is likely to come fast: One-third of those not currently using the technology for denials management expect adoption will be very likely over the next three years. Half anticipate adoption is “somewhat likely” during this time, especially as health plans increase their use of AI to scrutinize claims. Find out more in our new market study, “Race for Cash: Pivoting Your Denials Strategy for a New Era.” https://hubs.li/Q02F7ScF0 #healthcare #AI #revenuecycle #revenuecyclemanagement #denialsmanagement

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For the fourth consecutive year, Knowtion Health has achieved a No. 1 ranking from Black Book Market Research LLC, this time for Revenue Recovery and Accounts Receivable Solutions. The rating is based on a series of satisfaction surveys of more than 6,700 CFOs, vice presidents of finance and revenue cycle management, and business office managers for hospitals, health systems, and physician practices. Find out more: https://hubs.li/Q02FN5DP0 #healthcare #revenuecycle #revenuecyclemanagement #denialsmanagement

Nearly 1 in 5 revenue cycle leaders believe their organization’s denials management processes are “not very effective,” according to a recent market study by Knowtion Health. “The sheer volume of denials today versus even three or four years ago is overwhelming,” says one revenue cycle leader. “Payers are using AI tools to mass downgrade ED levels without reviewing a single record, denying huge dollars of claims. We are audited ad nauseam by vendors hired by payers to retract payment on post-pay reviews. We can’t employ enough staff with the appropriate knowledge and skillsets to effectively fight these denials.” Learn what organizations are doing to change this and how your tactics compare with peers. Read the report, “Race for Cash: Pivoting Your Denials Strategy for a New Era.” https://hubs.li/Q02F7V5n0 #healthcare #revenuecycle #revenuecyclemanagement #denialsmanagement

We're still smiling over the Women's Networking Lunch at #HFMAAnnual, sponsored by Knowtion Health! Great conversations, camaraderie and professional learning. We're proud to support events that deepen connections for women in leadership. #ThisIsWhyWeHFMA Healthcare Financial Management Association (HFMA) #healthcare #revenuecycle #finance #womeninleadership Julie Walker Ramona Hernandez, CRCR C. Ann Jordan, J.D.

Happy 4th of July from all of us at Knowtion Health

78% of hospital CFOs and revenue cycle leaders believe hitting cash and cash flow targets will be even more important to their organization over the next three years, according to a Knowtion Health survey. It’s one reason why denials and the need for better A/R management are getting more scrutiny. We examined strategies—and gaps—revenue cycle teams are likely to encounter as they prepare for this change. Find out more in Knowtion Health’s market study, “Race for Cash: Pivoting Your Denials Strategy for a New Era.” https://hubs.li/Q02F7VS90 #healthcare #revenuecycle #revenuecyclemanagement #denials

When it comes to AI for denials management, healthcare organizations surveyed by Knowtion Health are "very likely" (31%) or "somewhat likely" (50%) to begin using AI-driven processes over the next three years. But having the right team members in place to support denials management is a major concern. In fact, 37% of leaders say "insufficient skilled staffing" is their biggest barrier to improving revenue recovery from underpayments or denials. Find out more in this market study from Knowtion Health, "Race for Cash: Pivoting Your Denials Strategy for a New Era." Download the market study, which also features data on technology investment priorities and more. You'll also gain 5 practical takeaways for winning the race for cash. https://hubs.li/Q02DGYPQ0 #healthcare #revenuecycle #revenuecyclemanagement #AI #denials Healthcare Financial Management Association (HFMA)

And that's a wrap! Thank you, #HFMAAnnual, for the great memories, education and camaraderie! We're already looking forward to Denver next year. #ThisIsWhyWeHFMA #healthcare #revenuecycle #IntheKnow Tammie Jackson, MHA, CHFP, FHFMA Julie Walker Jorge Fernandez Tammy Trovatten Ryanne Laurence Marci Mollman, MBA, CHFP, CHAM Carla Neiman Ramona Hernandez, CRCR Healthcare Financial Management Association (HFMA) Shannon King Bradley Tinnermon

Nearly 4 out of 5 healthcare CFOs and revenue cycle leaders believe hitting cash & cash flow targets will be even more important to their organization’s financial health over the next three years, a Knowtion Health survey found. Yet with 57% of revenue cycle leaders reporting average denial rates of more than 10% last year — and with low confidence in current denials management efforts — leaders must consider: "How can we more effectively position our organization for financial success?" In this market study from Knowtion Health, "Race for Cash: Pivoting Your Denials Strategy for a New Era," you'll find five practical takeaways for winning the race for cash. Download the market study, which also features data on the extent to which healthcare organizations are relying on AI for denials management, technology investment priorities, the biggest barrier to improving revenue recovery, and more: https://hubs.li/Q02DwF8V0 #healthcare #revenuecycle #revenuecyclemanagement #AI #denials