Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Exploring the Challenges of a Unsuccessful Proposal in a Turbulent Fintech Environment

July 29, 2025

Zaggle purchases the fintech startup Rio.Money for Rs 22 crore.

July 29, 2025

Confidence emerges as the primary barrier to the integration of AI agents in finance and accounting, despite positive attitudes toward the technology.

July 29, 2025

Hang Seng Electronic denies claims of partnership with anti-establishment groups as stock exchange declines by 0.17%

July 29, 2025
Facebook X (Twitter) Instagram
Trending
  • Exploring the Challenges of a Unsuccessful Proposal in a Turbulent Fintech Environment
  • Zaggle purchases the fintech startup Rio.Money for Rs 22 crore.
  • Confidence emerges as the primary barrier to the integration of AI agents in finance and accounting, despite positive attitudes toward the technology.
  • Hang Seng Electronic denies claims of partnership with anti-establishment groups as stock exchange declines by 0.17%
  • The Fintech Tabadulat startup obtains preliminary approval from the FSRA of ADGM.
  • Fintech accounts for 45% of African startup funding in the first half of 2025.
  • AIIA Finance collaborates with Spheron to revolutionize AI-driven infrastructure in DeFi.
  • CBA lays off numerous employees amid a rise in workplace AI adoption.
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    The Journey of Sofi: Transitioning from Student Loans to Fintech Dominance

    July 25, 2025

    This Week in Fintech: Biweekly News Summary for June 24

    July 19, 2025

    Fintech and Global Expansion as Russia’s National Center Hosts a Major Session at SPIEF 2025 in Salt Lake City News, Weather, and Sports Updates

    July 15, 2025

    Alona Shevtsova emphasizes the importance of connection at the recent London Fintech Club event – London Business News

    July 15, 2025

    Unicorn Bank Zero represents the final achievement of his fintech journey.

    July 9, 2025
  • AI

    Confidence emerges as the primary barrier to the integration of AI agents in finance and accounting, despite positive attitudes toward the technology.

    July 29, 2025

    AIIA Finance collaborates with Spheron to revolutionize AI-driven infrastructure in DeFi.

    July 29, 2025

    CBA lays off numerous employees amid a rise in workplace AI adoption.

    July 29, 2025

    Sopnendu Mohanty calls on banks to shift their focus from using AI for cost-cutting to enhancing financial inclusion by 25% in low-income markets for better access to formal borrowing.

    July 28, 2025

    Financial jobs in Singapore face risks from AI and relocation, while Hong Kong thrives.

    July 28, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Exploring the Challenges of a Unsuccessful Proposal in a Turbulent Fintech Environment

    July 29, 2025

    European fintech company Tractial boosts its Bitcoin holdings to 25.03 BTC, highlighting trends in institutional cryptocurrency adoption.

    July 24, 2025

    Impacts of Q2 2025 Success for QCR Holdings Compared to Revenue Shortfall: A Disconnect in the Fintech Sector

    July 24, 2025

    Trends in Fintech and Key Safety Considerations

    July 22, 2025

    Market size, share, trends, and business profiles in the Fintech industry

    July 10, 2025
  • Insights

    Co-founder of Wise claims ยฃ10 billion fintech misled investors

    July 29, 2025

    Bruce Markets obtains strategic investment from Apex Fintech Solutions, Robinhood, and Tastytrade.

    July 23, 2025

    ICAPITAL Fintech Achieves a Valuation Exceeding $7.5 Billion in Recent Fundraising Amid Surge in Private Markets

    July 10, 2025

    Alphalรฉsaka Technologies: The Potential Transformative Impact of Recent Fintech Acquisition

    July 9, 2025

    Surge Continuation Funds in Europe Prepared for the 2025 Records – Fintech Schweiz Digital Finance News

    July 7, 2025
  • Rumors

    Hang Seng Electronic denies claims of partnership with anti-establishment groups as stock exchange declines by 0.17%

    July 29, 2025

    Kakaopay Stock Halted Amid Concerns Over Stablecoins

    July 26, 2025

    JPMorgan’s new fintech fees are provoking a response from the industry.

    July 26, 2025

    Bitcoin Surged 2.00% in 24 Hours Amid Trump’s Cryptographic Market Rumors

    July 26, 2025

    A rapidly expanding fintech amid high valuations and future profits

    July 25, 2025
  • Startups

    Zaggle purchases the fintech startup Rio.Money for Rs 22 crore.

    July 29, 2025

    The Fintech Tabadulat startup obtains preliminary approval from the FSRA of ADGM.

    July 29, 2025

    Fintech accounts for 45% of African startup funding in the first half of 2025.

    July 29, 2025

    An assessment of the feasibility of individual Bitcoin mining for small financial technology startups

    July 28, 2025

    The Fintech Avril Startup Secures 38 Million Dollar Series B Funding for AI Tax Growth

    July 27, 2025
  • finjobsly
fintechbits
Home ยป Cleveland Clinic introduces AI tools for enhancing the revenue cycle.
AI in Finance

Cleveland Clinic introduces AI tools for enhancing the revenue cycle.

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Ai artificial intelligence docs robot westend61 getty20images 18.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link
Artificial Intelligence in Healthcare

Photo: Westend61 / Getty Images

Cleveland Clinic Accelerates AI Implementation in Medical Coding

The Cleveland Clinic is set to advance its artificial intelligence (AI) initiatives by integrating generative AI tools designed to enhance the accuracy and efficiency of medical coding. This strategic move aims to streamline the revenue cycle process, particularly between patient care and billing phases.

Partnership with AKASA

In collaboration with the AI-focused organization AKASA, Cleveland Clinic plans to deploy a range of innovative technologies during the upcoming mid-term cycle. This phase involves critical documentation and coding tasks, where the objective is to simplify processes and save valuable time. Currently, the health system’s income cycle team reviews over 100 clinical documents for each case, sifting through more than 140,000 coding options.

The Challenge of Medical Documentation

This extensive process can take an hour or more following patient consultations. Cleveland Clinic’s goal is to revolutionize medical coding efficiency through AI support, allowing coders to utilize advanced coding assistant tools that promote accuracy and completeness in coding practices.

AI Technology Enhancements

One key component of the initiative involves a second AI technology focused on Clinical Documentation Integrity (CDI). According to Cleveland Clinic, these AI-driven tools are designed to expedite the coding process while ensuring the usage of the most appropriate coding. The AI coding assistant can process clinical documents in under two seconds, capable of analyzing over 100 documents in just 1.5 minutes.

Contextual Understanding for Complex Cases

This technology not only recognizes keywords but also understands clinical context, making it adaptable to the complexities of patient care. By learning from real-world documentation practices, it can effectively analyze complicated cases, including those involving hospitalized patients. This capability significantly enhances coders’ ability to represent the clinical nuances and risk factors associated with patient care.

Global AI Ambitions

Cleveland Clinic is not stopping at domestic advancements. Recently, the organization announced a partnership with G42, a technology group, aimed at driving AI innovations in healthcare both in the U.S. and worldwide. This collaboration seeks to evaluate and accelerate potential projects, furthering the AI adoption in healthcare.

Healthcare Leaders Prioritize AI Investment

With a majority of healthcare leaders categorizing AI as an “immediate priority,” it’s clear that investment in this technology is intensifying. A recent survey from Define Ventures indicates that 73% of healthcare organizations are increasing their financial commitments to AI. Furthermore, over 63% of these organizations are establishing governance structures to align AI initiatives with organizational values.

Potential for Savings through AI

The projected savings from AI-driven automation in the revenue cycle could reach as high as $9.8 billion, according to Trubridge statistics shared during the HFMA conference in Nashville in June 2023. Notably, 9% of claims are erroneously denied due to mistakes or prior authorization issues, while 23.9% stem from eligibility challenges, highlighting a crucial area for improvement.

As Cleveland Clinic continues to implement these AI tools in its U.S. facilities in the coming weeks, the healthcare landscape may see significant transformations that not only improve efficiency but also enhance patient care quality.

Jeff Lagasse is Editor-in-Chief of Healthcare Finance News.
E-mail: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Confidence emerges as the primary barrier to the integration of AI agents in finance and accounting, despite positive attitudes toward the technology.

July 29, 2025

AIIA Finance collaborates with Spheron to revolutionize AI-driven infrastructure in DeFi.

July 29, 2025

CBA lays off numerous employees amid a rise in workplace AI adoption.

July 29, 2025
Leave A Reply Cancel Reply

Latest news

Exploring the Challenges of a Unsuccessful Proposal in a Turbulent Fintech Environment

July 29, 2025

Zaggle purchases the fintech startup Rio.Money for Rs 22 crore.

July 29, 2025

Confidence emerges as the primary barrier to the integration of AI agents in finance and accounting, despite positive attitudes toward the technology.

July 29, 2025
News
  • AI in Finance (1,408)
  • Breaking News (159)
  • Corporate Acquisitions (65)
  • Industry Trends (182)
  • Jobs Market News (297)
  • Market Insights (193)
  • Market Rumors (258)
  • Regulatory Updates (154)
  • Startup News (944)
  • Technology Innovations (156)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,408)
  • Breaking News (159)
  • Corporate Acquisitions (65)
  • Industry Trends (182)
  • Jobs Market News (297)
  • Market Insights (193)
  • Market Rumors (258)
  • Regulatory Updates (154)
  • Startup News (944)
  • Technology Innovations (156)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.