In the beginning of 2019, Coronis partnered with a billing company to provide operational support. The billing company was struggling to scale and meet the needs of their clients. Managing attrition was also a big concern as they were unable to find qualified and experienced billing and coding staff in their area. Client AR was at an all time high and they simple did not have the manpower to keep up. Understandably, the company received a tremendous amount of pressure from clients to improve cash and decrease AR. All things combined made for a perfect storm and the billing company had to make changes and call in support in order to not only please clients but remain in business.
The use of Artificial intelligence(Ai) is becoming more common across many industries and healthcare is no exception. As providers continue to fight for every dollar billed, taking advantage of Ai capabilities allows providers to take a smarter approach to many functions of the revenue cycle. One key area we are going to see Ai used more is in AR.