Artificial Intelligence, commonly termed AI, has made its presence felt across all industries. All the major sectors are leveraging the power of AI to make workflow easy and offer better services to the end-users. The Healthcare industry is no different when it comes to benefiting from AI. However, AI is still not being used in every aspect of the healthcare sector, including mental health facilities. As a result, majority of the industry has started depending on AI to make the work hassle-free. The innovation that AI has can offer great profit and successful practice.
Artificial Intelligence can resolve several issues connected to revenue management. As a result, the AI-backed automated technology can be used in multiple areas, whether disease diagnosis, virtual tele-health services, analytics, and EMR integration, to create endless possibilities to improve medical billing and coding.
Using AI in mental health billing works efficiently for mental health professionals. It offers the benefit of overcoming the passive collection procedures because, in this day and age, the traditional strategies are no longer enough for mental health billing and coding. Expediting the cash collection, reducing the denials, and improving the receivables, along with a robust revenue management cycle in practice, is a must. AI has been able to help with all these and more, thereby improving the mental health billing and coding practice.
Contribution of AI in Mental Health Billing and Coding
The use of AI in mental health billing and coding can help a mental health facility facilitate its billing and coding procedure by minimizing errors, which can often prove quite costly. AI-driven technology like natural language (NLP) and machine learning can help organize and process a large amount of data accurately and quickly. As such, AI becomes the perfect solution for identifying and extracting any relevant data from the EHR. It can be further used to match the information with the relevant mental health service codes.
AI has been developed to help the mental health billing process, where they can identify and extract disparate data, events, diagnoses, and procedures from different records. Then all this information can be arranged by the AI into a logical timeline that will make sense when it comes to billing and coding. As a result, it will not only reduce reporting errors but minimize coding issues that can translate into claim denial or rejection. In fact, AI technology is advanced enough to contextualize unstructured data often found in mental health billing and analyse them correctly to make proper sense.
The Benefit of AI in Mental Health Billing and Coding
There are several benefits that AI can offer in mental health billing. The facilities that have been using AI for their billing and coding practices have reported establishing a better revenue cycle management system.
Some of the benefits that AI is offering and helping in improving the mental health billing and coding practices are:
- The mental health coding process, when automated with AI technology, can deliver a scalable solution while not having to depend on a skilled billing professional’s availability.
- Issuing correct and prompt patient statements to ensure improved cash flow by reducing claims rejection or denial.
- Improve the quality of work for the administrative staff by doing the mundane jobs, thus reducing the overworking, which is often associated with the mental health service providers
- Human errors are eliminated by matching the right medical codes with the HER data. Also, the system integration across different areas and software requires manual keying of the information, which can often result in wrong inputs.
- Regular real-time audits to identify and analyse errors so they can be rectified immediately. As a result, it prevents the practice from incurring high revenue loss.
- Professional coders will have the time to focus on complex issues and require expertise and skill, while AI can automate recurring menial and repetitive tasks.
- Developing an integrated patient statement from unstructured data by extracting from various EHR the relevant information. The process thus can streamline the payment procedure and encourage faster payment of bills.
- By reducing the manual billing and coding procedures while conducting repetitive analysis of the billing system eventually helps in reducing the operational cost.
- AI-backed chat bots can help provide customer support queries and disputes related to billing statements and other issues, which eventually frees the staff to do other pressing jobs while keeping the patients happy.
- The machine learning and NLP are designed to offer self-improvement for AI technology as they perform tasks. Hence, it allows the system to become more sophisticated with time while reducing the margin of error in mental health billing and coding.
Future of AI in Mental Health Billing
Obviously, with more people requiring mental health support, the industry will need all the help it can to offer the best facilities to the patients. In addition, the increasing demand for the service means more medical records, which need to be updated regularly, while more insurance claims need to be handled. With healthcare claims on the rise, the requirement of a coder’s skill set will be in demand too, which can often lead to overworking the coding and the billing staff.
However, the mental health sector can empower itself in the coding and billing department with the help of AI. As healthcare companies continue to rely increasingly on electronic tolls to manage claims, they need correct coding and billing practice devoid of human error. In such an instance, AI is the best option to move forward in mental health billing and coding practice.
Where to Get the AI Help?
If you are a mental health service provider and consider availing AI technology’s benefits in your mental health billing and coding procedure, then you need a partner who knows every detail in and out. Let 24/7 Medical Billing Services help you with the AI-powered technology for your mental health practice and take care of the mental health billing and coding to never lose out on your revenue.
About 24/7 Medical Billing Services
24/7 Medical Billing Services is the leading medical billing services partner across entire US. They have proven expertise across verticals with the same quality and timely strategies applied to better the different practices. They have the best team of experts who keeps a close eye on the accounts and ensures all medical billing and coding chaos is addressed with effective solutions.
Mr. Hari, the CEO of 24/7 Medical Billing Services, says, “We help you improve your practice’s revenue and efficiency by 30% by reducing its operational cost up to 40% and streamline your medical billing process to operate effortlessly.”
24/7 Medical Billing Services,
16192 Coastal Hwy,
Lewes, DE – 19958
Tel: + 1 -888-502-0537
Website – www.247medicalbillingservices.com