CodaMetrix, an AI technology platform transforming healthcare revenue cycles, announced the expansion of its multi-specialty autonomous medical coding platform to include bedside professional coding. Henry Ford Health, one of the nation’s leading nonprofit academic medical institutions, is a customer and collaborator. The partnership will empower the revenue cycle team at Henry Ford Health to utilize AI-powered autonomous coding for their more than 700,000 bedside services provided each year, reducing physician, medical coding, and billing administrative burden, and driving more financial and operational efficiency.
CodaMetrix, Inpatient hospital stays due to serious medical conditions, injuries, surgical procedures, and medical emergencies such as strokes, heart attacks, broken bones, and burns, routinely require bedside physician consultation. Evaluations and management of patients at the bedside, by hospitalists and other specialists, as well as bedside procedures, need to be abstracted into medical codes for reimbursement. Depending on health systems’ policies, the coding function is usually performed by physicians, medical coders, or both. In scenarios where physicians are responsible for coding, not only is it an extra burden, but it increases the number of missed opportunities for accurate reimbursement.
Also Read: AI-Powered Java Testing Solution Increases Developer Productivity & Improves Code Quality
Even when performed by trained medical coders, abstraction is a highly inefficient and costly process. It requires sifting through hundreds of pages of documentation to find and translate physician notes to billing codes. The current coding process, whether performed by physicians or coders, creates a large backlog and overburdens medical coding and billing departments. Because medical coding is exacting and time consuming, health systems have a difficult time recruiting and training an adequate number of qualified medical coders, spending more on labor costs or sending work offshore, often leading to lower coding quality and revenue leakages.
“Turning to autonomous AI for medical coding will create efficiency in our workflow, resulting in lower costs, reduced backlogs, and improved patient experience,” said Kevin O’Neill, Interim Chief Revenue Officer, Henry Ford Health System. “Inpatient bedside visit coding accounts for 20% of our overall coding cost. Using CodaMetrix to automate bedside visit coding will allow us to shift resources to other areas of need.”
SOURCE: PR Newswire