{"id":26899,"date":"2024-01-11T17:35:17","date_gmt":"2024-01-11T17:35:17","guid":{"rendered":"https:\/\/www.oxfordcorp.com\/?p=26899"},"modified":"2024-01-11T17:41:23","modified_gmt":"2024-01-11T17:41:23","slug":"is-ai-the-answer-to-healthcare-billing-problems","status":"publish","type":"post","link":"https:\/\/www.oxfordcorp.com\/nl-d\/insights\/industry-commentary\/is-ai-the-answer-to-healthcare-billing-problems\/","title":{"rendered":"Is AI the Answer to Healthcare Billing Problems?\u00a0"},"content":{"rendered":"<p><span data-contrast=\"auto\">Cedar president Seth Cohen believes that <\/span><a href=\"https:\/\/www.healthcarefinancenews.com\/news\/himsscast-cedar-collaborates-google-cloud-ai-ease-patient-billing-experience\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">recent <\/span><\/a><span data-contrast=\"none\">technological advances may help ease tensions around healthcare billing concerns<\/span><span data-contrast=\"auto\">. Earlier in 2023, the healthcare financial engagement platform teamed up with Google Cloud\u2019s AI solutions to better assist patients to pay for healthcare costs.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">In its research, Cedar determined that surprise bills are harmful to consumers\u2019 wallets and can have disturbing health impacts. Not only can unforeseen fees throw a wrench in healing, but they\u2019ll likely go unpaid.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Key findings include:<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<ul>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">Just under 20% of patients have unpaid bills due to unaffordability<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Nearly one-quarter (23%) of patients cannot pay unexpected medical bills over $250<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<li data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"1\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559684&quot;:-2,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" aria-setsize=\"-1\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Nearly three-quarters (72%) of patients don\u2019t pay healthcare bills due to lack of funds rather than lack of desire<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/li>\n<\/ul>\n<p><span data-contrast=\"auto\">It\u2019s important to note that healthcare expenses are typically not a part of individual and family budgets. In other words, all healthcare bills should be considered unexpected to patients, meaning it\u2019s likely that the surprise will leave a substantial dent in their pocketbook or be impossible to cover altogether.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">However, Cohen sees AI as a solution to surprise bills, offering heightened transparency, understanding of costs, and ease in reconciliation. Cohen believes call centers may benefit most from AI due to the overwhelming number of repetitive questions from consumers. He stated: The moment a patient has to call a call center, that patient is already unhappy.\u201d<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">According to the 2023 Patient Payment Technology Report, <\/span><a href=\"https:\/\/salucro.com\/home\/content-and-resources\/downloads\/2023\/patient-payment-technology-report\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">nearly 80% of patients say they pay close attention to the billing process<\/span><\/a><span data-contrast=\"auto\"> when selecting providers, citing it as \u201csomewhat or very important.\u201d Additionally, having a negative financial experience can lead to bad reviews by more than half of consumers.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">AI is also likely to be effective in assisting healthcare organizations to alleviate data security and patient privacy concerns. These are vital considerations when implementing any type of AI-powered billing system, with 72% of patients trusting medical payment data to be handled appropriately by healthcare providers and partnering tech firms, per the report.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Fortunately, AI has been fine-tuned over the years, offering advanced algorithms to identify security breaches, vulnerabilities, and anomalies, protecting against threats before they become a serious problem.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><a href=\"https:\/\/www.oxfordcorp.com\/qa-modernization-to-improve-product-quality\/\" target=\"_blank\" rel=\"noopener\"><span data-contrast=\"none\">Oxford has the knowledge and expertise<\/span><\/a><span data-contrast=\"auto\"> to help healthcare organizations strike a balance between efficiency and the preservation of patient privacy, so you can move into the future of healthcare billing with peace of mind, maintaining consumer trust and upholding the confidentiality of patient information.\u00a0\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">\u201cHealth systems are considering how AI can be applied to solve problems and challenges. Starting with improving billing processes will increase efficiencies while improving patient experience by default,\u201d stated Vanessa Whitehead, Vice President of Healthcare Technology at Oxford Global Resources. \u201cThe more control patients feel over interactions with their providers, the more engaged and satisfied they will be, improving their overall health.\u201d<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The AI solutions cooked up by Cedar and Google Cloud are projected to make their debut in early 2024.\u00a0<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:240}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Oxford weighs in on how AI solutions from Google Cloud can help relieve tensions around healthcare billing concerns. <\/p>\n","protected":false},"author":22,"featured_media":26900,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[262],"tags":[114],"category-tag":[],"class_list":["post-26899","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industry-commentary","tag-healthcare"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - 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