As adoption of artificial intelligence continues to grow across the industry, healthcare executives are pondering the future of work in the era of AI. And while our particular vision at Olive doesn’t include bots taking patient vitals and performing robot-assisted surgeries, we do envision health systems becoming what we call an ‘AI-Powered Hospital’. That means we see every health system in the future employing an AI workforce – alongside their human employees – freeing them to focus on the patient experience and their mission-critical work of delivering healthcare.
So, what does the AI-powered hospital look like today?
Olive’s AI-Powered Hospital
High-value use cases for healthcare AI and automation span the entire enterprise and should be top of mind for health system executives looking to keep pace with the industry. In fact, Olive’s AI workforce runs behind the scenes, automating administrative processes for over 1,000 workflows across 15 functions, from Revenue Cycle Management to Supply Chain, and more – and she’s identifying new areas ripe for optimization daily.
Here are six high-impact areas where Olive customers are using an AI workforce to optimize resources as they lead their organizations into the future.
Contract Price Management
A hospital’s item master file should be a strategic asset for reducing total supply expense and competitive contracting. But the reality is that most hospitals spend more time validating existing contract terms and fixing errors in downstream processing.
Olive constantly checks emails, pricing spreadsheets, and web portals for contract changes and pricing updates. When she finds a change, she immediately updates the item master list with new pricing and the vendor with new contract terms. When Olive gets involved, employees can be confident that their item master list is always up to date and accurate, while reducing cost of goods and time spent.
Automated Appointment Scheduling
No-shows and cancellations negatively impact revenue capture and patient care. Olive automates and optimizes scheduling, including initiating reschedules and patient appointment reminders. She helps maximize doctor and nurse time with patients, increasing top line revenue, and freeing the front desk staff to help with more complicated patient scheduling or financial matters.
A hospital’s pharmacy is a major source of cost and revenue, so when reimbursement lags, it can quickly create cash flow problems. Olive accelerates the reimbursement process by running reports to identify which drugs were ordered, and then facilitating authorization submission to payers.
Eligibility and Benefit Verification
When completed manually, eligibility is typically checked at time of scheduling and again at the day of service. Unfortunately, this leaves hospitals and patients vulnerable to coverage changes that occur between those dates – that means additional transaction costs, high-cost claim errors, inflated A/R, and more costly claim denials.
Olive can take over the entire process, automating the routine tasks, and routing any problems to the appropriate human employee to manage. She completes pre- and post-service eligibility checks, ED visit checks, denial management, coverage discovery, and insurance card scanning.
Eligibility and benefit verification is a core skill of Olive’s – the workflow delivers a ‘quick win’ of significant cost and labor savings in a short time. For example, one large Mid-Atlantic health system achieved $400,000 in cost savings and 7 FTEs in labor savings by implementing Olive’s eligibility workflows.
Onboarding and Credentialing
Olive works in the health system HR department, too, helping to create a positive employee experience from day one. and with tough competition for talent in healthcare, a smooth HR experience can be a differentiator. For new hires, Olive can automate hire setup and tasks so new employees get a great first impression and can start work, faster. For physicians and other practitioners, Olive facilitates timely and accurate credentialing and licensure to ensure adherence with compliance standards.
Denial and Rejection Management
Claim denials and rejections hurt your revenue and negatively impact your days in A/R, but manually managing all of them would require more staff than any hospital can allocate. Olive fully and consistently checks all claim statuses and retrieves the reason for any denials or rejections. For simple problems, Olive quickly fixes and resubmits the claim. For more complex problems, she routes the claim to the appropriate person, including detailed information that helps the employee fix the problem faster.
Olive reduces timely filing write-offs, increases net patient revenue per FTE, decreases days in A/R and increases cash acceleration.
An AI-Powered Hospital Needs an AI Workforce
As many healthcare executives already know, the use cases above are just the tip of the iceberg for healthcare AI and automation. And with Olive, health systems get more than just a boxed solution to one problem – they get an AI workforce built specifically for healthcare that can be scaled across their organization. Entire administrative backend processes can be powered by AI, empowering healthcare employees to do their best work. Olive is already working for the nation’s leading health systems, transforming healthcare processes and saving millions of dollars for the organizations she serves. With each workflow she automates, she improves financial performance, frees up employee time to focus on the patient experience, and reduces waste throughout the system.
To learn more about all of Olive’s common use cases, visit the AI-Powered hospital and discover how Olive can help your organization harness the power of artificial intelligence.