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5 steps to integrate AI into your practice

Blog
Slideshow

Here are five steps to start integrating AI, using medical coding and revenue cycle management as examples.

AI has enormous potential to improve efficiency and decision-making in healthcare organizations, while also improving patient outcomes. It’s only a matter of time before its use becomes the industry standard. However, despite the technology’s rising popularity, some common concerns about AI persist – such as proving out more case examples and concretely measuring ROI, according to RevCycleIntelligence.

Part of the apparent resistance to AI comes from a lack of guidance about how to find the best solution for your organization. In this article, we provide a roadmap for evaluating an AI solution so you can build confidence about investing in the technology. But first, let's clear up a couple of AI misconceptions.

Common misconceptions about AI
AI's impact on the healthcare industry and the wider world is undeniable, yet lingering concerns and misconceptions persist among organizations. Questions about implementation and its implications loom large: How can organizations effectively integrate this technology into their practices and teams? Add in the technical hurdles and staff training, and you have a recipe to raise the collective blood pressure of even the most seasoned executives.

The most important point to recognize is that AI enhances team productivity. This is particularly useful in healthcare, an industry that struggles with chronic work shortages across many functions, with 58% of leaders citing staffing as their largest issue. For example, technology like autonomous medical coding takes on repetitive and time-consuming tasks to help free up medical coders’ time to work on higher-value activities. It also benefits physicians who are otherwise forced to take on coding duties and spend more time on administrative tasks.

Another common concern relates to questions about whether staff will embrace AI in their day-to-day roles. But studies prove that working with AI boosts productivity. A Harvard Business School study, for example, found that AI helped workers complete an average of 12.2% more tasks, at a rate 25.1% faster than usual. A Stanford and MIT study also revealed that using AI tools led to a 14% increase in staff productivity and higher employee retention.

Now that you see how AI can positively impact your workforce and bottom line, how can you integrate it into your practice? Here are five steps to start, using medical coding and revenue cycle management as examples.

The future of your practice starts now

By now, your feelings of uncertainty about AI have likely softened. You can see that it’s another new technology, one in a long history of new technologies, that will improve jobs and the workplace.

By embracing AI now, you're not just keeping up with the times, but giving your organization a competitive edge. Efficiency improves, growth prospects expand, and success becomes more achievable.

Austin Ward is Head of Growth at Fathom, the leader in autonomous medical coding. He oversees the company's go-to-market efforts and client analytics. He brings broad experience in health systems, technology, and data science and has worked at BCG, the Bill & Melinda Gates Foundation, and in venture capital. He holds an MBA from Stanford University, MPA from Harvard University, and BAs from the University of Chicago.

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