February 17, 2021
With the healthcare landscape making rapid shifts, organizations are looking for opportunities to increase revenue with existing capacity. It’s simple… more patients equal more revenue, right? But this is also true: more patients equal more prior authorizations. And, when a prior authorization takes 30–60 minutes of clinical staff time to complete and weeks to get approved, you’re forced to either hire more FTEs, or schedule months in advance to accommodate the growing burden — both eating into potential revenue growth.
Indeed, while many providers may be booking procedures 2–3 months out, most clinics and hospitals also suffer from last-minute cancellations or reschedules.
Whether it’s a delay in prior authorization approval or a patient rescheduling for personal reasons, last-minute vacancies lead to:
Healthcare looks quite different than it did just a few short years ago. The COVID-19 crisis has created a distinct “before” and “after” for the world, and especially for healthcare.
Artificial intelligence (AI) is revolutionizing healthcare data analytics and changing the way we predict, learn and act based on insights gained through AI-powered data models.