Amish Purohit, MD, MBA, MHA, FAAFP, FACHE’s Post

As 2024 draws to a close and budget season kicks off, AI has become a critical focus for healthcare leaders. With the growing trend of automating medical coding and other revenue cycle operations, many are asking: where should we start? A recent Becker's Healthcare article reinforces that AI-driven solutions are rapidly gaining precedence in healthcare IT and revenue cycle management. Industry leaders are leveraging AI and machine learning to address current challenges while preparing for those anticipated in 2025. By adopting AI, they are not only enhancing revenue recovery and streamlining financial operations but also improving patient care workflows. These innovative organizations are positioning themselves to recover billions in revenue, modernize outdated systems, and reduce manual tasks through AI. They are preparing for regulatory and operational demands, such as boosting coding accuracy and reducing claim denials, to ensure their systems are future-ready. Investing in AI and automation today is enabling healthcare organizations to stay ahead of industry shifts, future-proofing their operations for a more efficient and resilient future. #HealthcareBudgeting #AIAutomation #FutureOfHealthcare https://lnkd.in/grAGWXD2

Just shared an insightful article on "The Role of AI in Managing Healthcare Costs". A must-read for healthcare professionals and tech enthusiasts wanting to understand how AI can streamline expenses in healthcare. Feel free to share your thoughts. #AIinHealthcare #HealthcareTechnology #CostManagement

Skill-based strategies amplified by productivity gains from Generative AI and Hybrid Intelligence, is expected to catalyze transformational healthcare delivery models 🏥 . Digital Intelligence is expected to support clinicians 👨⚕️ work top of their license and skill. Prospective 👇 from Deloitte leaders covers this topic and more. #Deloitte #Healthcare #GenAI

Artificial intelligence and automation are revolutionizing the way we approach patient care. With AI, healthcare professionals can analyze and interpret large amounts of data faster and more accurately than ever before. By automating mundane administrative tasks, medical staff can focus on more important aspects of patient care, such as developing treatment plans and improving outcomes. Let's welcome this exciting development in healthcare with open arms! #AI #Automation #PatientCare #Healthcare  

Explore the surge in healthcare innovation: @Transcarent and Chapter clinch $126M and $50M in funding to transform healthcare experiences with AI and expanded services. #HealthTech #Funding #Innovation #AI #Healthcare

When it comes to innovation and adoption of new technology, healthcare has traditionally lagged behind other sectors. The good news is that this may be changing. As new policies are implemented, stakeholders need to balance the cost impact with the delivery of quality care while serving the needs of an aging population. Payers and providers must embrace technology and continue to find new ways to incorporate tools like AI, ML and LLM into care delivery. As Ashish Kachru says: "It's time for healthcare to push the envelope, stand at the forefront of technology and serve as an example to other industries when it comes to innovation." #TechTrends #Healthcare #Aging #Innovation #AI

Eli Lilly and Company's bold move into direct sales underscores a stark reality: innovate or risk irrelevance. With healthcare efficiency no longer optional, AI offers a lifeline. A mere 15% improvement could unlock $314 billion in profits, as per Andreessen Horowitz. Why it matters - ▪️ AI is essential for survival and growth in healthcare. ▪️ Efficiency and patient care can coexist with the right approach. Consider this - Is your organization poised to lead with AI in healthcare? #Healthcare #Innovation #AI #EliLilly

Longitude portfolio company Cohere Health is one of IVP's list of 35 companies to watch in the Health AI space! Here's what the list shares about Cohere ⬇ "Prior authorization requires physicians to get insurance approval before they can prescribe a specific medication or deliver a certain type of care. It’s a labor-intensive and error-prone process with long lead times due to doctor and nurse shortages. Companies like Tandem Health and Cohere Health are speeding up the process, saving payers time and money." Read more at https://lnkd.in/egNcDrAm  #PriorAuthorization #FutureOfHealth

Unlock the future of healthcare efficiency with our latest blog post: "10 Ways AI can revolutionise healthcare efficiency"! From automating admin tasks to crafting personalised treatment plans, AI is transforming patient care. Learn how AI streamlines processes, enhances decision-making, and drives efficiency in healthcare delivery. Read now 👉 https://lnkd.in/eMbbDMET #HealthAndAI series #AIHealthcare #Innovation #HealthTech #PatientCare #EfficiencyInHealthcare

So far, insurers have had the upper hand when it comes to integrating AI into the claims review process. However, providers are reporting that more claims are denied when AI is involved. Still, it's important to note that we're still in the humble beginnings of AI in healthcare, and once providers catch up with payers, they'll start to benefit more, especially in the realm of prior authorizations. This technology has the potential to give providers a "leg up" in claims disputes and reduce the time it takes to document claims. #Payers #AI #Healthcare