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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
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Artificial Intelligence in Healthcare

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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.

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BBVA and OpenAI form partnership to advance AI in the banking sector – Fintech Schweiz Digital Finance News

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