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For Michael Smith, it all began with seemingly innocuous text messages from a PA University Hospital, indicating a wait time for an emergency room visit. A peculiar situation for someone who no longer resided in Philadelphia and hadn't used the hospital system for years. Initially dismissing it as spam, Mike's skepticism deepened when a hospital staffer named Ellen reached out to discuss diagnostic results from an ER visit, he never made.  The revelation was unsettling – someone had registered with Smith's name, and the lack of ID verification raised eyebrows. While the recorded name and date of birth were accurate, the address associated with the account was outdated. A discrepancy that hinted at a more insidious problem.  Undeterred, Smith took matters into his own hands. Following an unsatisfactory conversation with the hospital's billing department, he penned a letter to the privacy officer, expressing his concerns about potential fraud. In his words: "I think there's something going on, that someone is using my information, and the visit and the charges appear to be fraudulent."  Smith's proactive approach sheds light on a crucial aspect of dealing with medical identity theft – swift and assertive action. As cyberattacks on healthcare institutions escalate, individuals must be vigilant in protecting their personal data.   Everyone shares the burden  Whether enrolled in employer-sponsored health insurance or securing coverage through HealthCare.gov, or the individual market, instances of healthcare fraud invariably translate into heightened financial burdens for consumers. Such malfeasance results in elevated premiums and increased out-of-pocket expenses, often accompanied by diminished benefits or coverage. In the realm of employers, both private and governmental entities, healthcare fraud escalates the costs associated with providing insurance benefits to employees, consequently raising the overall operational expenses. For a significant portion of the American population, the augmented financial strain stemming from fraudulent activities could be the decisive factor in realizing or forgoing health insurance.  Yet, the financial ramifications are merely one facet of the impact wrought by healthcare fraud. Beyond monetary losses, this malpractice carries a distinctly human toll. Individual victims of healthcare fraud are distressingly prevalent, individuals who fall prey to exploitation and unnecessary or unsafe medical procedures. Their medical records may be compromised, and legitimate insurance information can be illicitly utilized to submit falsified claims.  It is crucial not to be deceived into perceiving healthcare fraud as a victimless transgression, as its repercussions extend far beyond financial considerations, undeniably inflicting devastating effects.  Healthcare fraud, like any fraud, demands that false information be represented as truth. An all-too-common healthcare fraud scheme involves perpetrators who exploit patients by entering into their medical records' false diagnoses of medical conditions they do not have, or of more severe conditions than they actually do have. This is done so that bogus insurance claims can be submitted for payment. Unless and until this discovery is made (and inevitably this occurs when circumstances are particularly challenging for a patient) these phony or inflated diagnoses become part of the patient's documented medical history, at least in the health insurer's records.  How does medical identity theft happen?  Medical identity theft involves someone using another patient's name name or insurance information to receive healthcare or filing fraudulent claims, posing significant financial and health risks. It can result in bills for procedures the patient has never had, inaccurate medical records, and potentially life-threatening care. Common ways it occurs include database breaches, improper disposal of records, phishing scams, insider theft by healthcare professionals, and theft by family members.  Data breaches in healthcare have reached alarming levels, with the Office of Civil Rights reporting 725 notifications of breaches in 2023, where more than 133 million records were exposed or impermissibly disclosed. Social engineering poses a threat to individual Medicare beneficiaries, but healthcare providers also face risks from ransomware attacks, hacking, and employee errors. Hacking constitutes the dominant threat, accounting for 75% of reportable breaches.  Regardless of how health data is exposed, be it through individual identity theft, hacking attacks, or unintended sharing, any disclosure of payment information increases the risk of healthcare fraud.  Protecting patients and improving their experience  To prevent medical fraud and ensure eligibility integrity, here are some steps healthcare organizations can take:   Implement robust verification processes: Develop and enforce strict protocols to verify patient eligibility and review supporting documents. This includes verifying insurance coverage, confirming the patient's identity, and validating their relationship to the covered individual (e.g., spouse, dependent). Stay updated with legal and regulatory requirements: Stay informed about the latest laws, regulations, and industry guidelines related to medical eligibility and fraud prevention. This could include understanding requirements for reporting changes in eligibility status and keeping up with best practices recommended by regulatory authorities. Train staff on fraud prevention: Provide comprehensive training to all staff members regarding medical fraud prevention, eligibility verification procedures, and red flags to look out for. Staff should be educated on relevant laws and regulations, as well as proper documentation practices. Conduct regular internal audits: Regularly review patient records, claims, and billing processes to identify any inconsistencies or irregularities. Internal audits can help detect potential fraud and ensure compliance with eligibility requirements. Utilize technology and automation: Implement healthcare management systems or software that incorporate automated eligibility verification processes. This can help streamline and improve accuracy in eligibility determinations, reducing the risk of fraudulent benefits being provided. Encourage patient engagement: Educate patients about their responsibilities in maintaining accurate eligibility information. Promptly notify patients about the importance of reporting changes in their circumstances (e.g., marital status, employment status) that may affect their eligibility for medical benefits. Report suspicious activity: Train staff to recognize and report any suspicious activity or potential fraud. Establish clear reporting channels within your practice and encourage a culture of transparency and accountability. Stay vigilant: Stay alert for emerging trends, schemes, and new types of medical fraud. Regularly review industry updates, attend relevant workshops or seminars, and participate in fraud prevention initiatives to stay informed about evolving threats and prevention strategies. By implementing these measures, healthcare organizations can help safeguard their medical practices against medical fraud and preserve the integrity of eligibility determinations.   Finding the right partner  Healthcare fraud is a serious crime that affects everyone and should concern everyone—government officials and taxpayers, insurers and premium-payers, healthcare providers and patients—and it is a costly reality that can't be overlooked. By taking steps to find the right partner along the way, providers are helping to protect the integrity of the nation's healthcare system. Experian Health works across the healthcare journey to improve the patient experience, make providers more effective and efficient, and enhance and simplify the overall healthcare ecosystem.   Learn more or contact us to see how Experian Health's patient identity solutions can help healthcare organizations prevent medical ID theft. 

Prospects for US hospitals that closed out 2022 at a financial loss looked brighter by the end of 2023, prompting cautious optimism heading into 2024. An industry analysis published in October 2023 found that most hospitals were back in the black from March 2023 onward, while the economy more generally ended the year with a strong finish. That said, healthcare margins remain slim, and expenses continue to grow. Finding efficiency savings across all operations remains a top priority. That's where revenue cycle automation comes in. With revenue cycle automation, providers can eliminate many of the persistent pain points in traditional revenue cycle management (RCM). Staff no longer lose time to tedious manual tasks, patients get their queries answered faster, and managers get the meaningful data they need to drive improvements. And the biggest win? It's easier for providers to get reimbursed for the services they provide – faster and in full. What is revenue cycle automation and how does it work? Healthcare revenue cycle management knits together the financial and clinical components of care to ensure providers are properly reimbursed. As staff and patients know all too well, this can be a complex and time-consuming process, involving repetitive tasks and lengthy forms to ensure the right parties get the right information at the right time. This requires data pulled from multiple databases and systems for accurate claims and billing, and is a perfect use case for automation. Revenue cycle automation refers to the application of robotic process automation (RPA) to these repetitive, rules-based processes. In practice, this might include: Automatically generating and issuing invoices, bills and financial statements Streamlining patient data management and exchanging information quickly and reliably Processing digital payments Collating and analyzing performance data to draw out useful insights. Common RCM challenges Automation is already making headway in tackling some of the most pervasive challenges, such as: Stemming the rise in claim denials: Experian Health's State of Claims 2022 survey found that a third of providers had around 10-15% of their claims denied. These often result from errors made earlier in the revenue cycle such as incorrect patient information or overlooked pre-authorizations. RCM automation reduces the propensity for errors significantly. Streamlining patient access: Without a welcoming digital front door, the revenue cycle gets off on the wrong foot. Automation can be deployed in patient scheduling and registration to ensure patient information is collected and stored quickly and accurately. Improving collections rates: Self-pay patients (who are increasing in number) want clear, upfront information about what their care is likely to cost. Providers can find themselves playing catch-up if patients are unsure about what they owe. Automated tools that generate accurate estimates and support pre-service payment can build a more resilient cash flow. Expanding access to data insights: One of the biggest ironies in revenue cycle management is that more data is collected than ever, but managers are struggling to digest it and uncover actionable insights. RCM automation helps identify patterns in claims and collections. Six ways revenue cycle automation accelerates reimbursements Let's break down these opportunities into six specific actions providers can take to improve their organization's financial health: 1. Capture accurate information quickly during patient access Victoria Dames, Vice President of Product Management at Experian Health, says, “Patient access is the first step in simplifying healthcare and revenue cycle processes. Replacing manual processes and disjointed systems with integrated software solutions can reduce errors, improve efficiency, offer convenience and transparency to patients, and accelerate the healthcare revenue cycle.” Patient Estimates automatically compiles an accurate breakdown of what a patient is likely to owe before or at the point of service. It builds in prompt-pay discounts, financial assistance advice and instant payment links, so patients are more likely to pay sooner. 2. Simplify collections and focus on the right accounts Healthcare collections are a drag on resources. Automating the repetitive elements in the collections process helps reduce the burden on staff. Collections Optimization Manager leverages automation to analyze patients' payment histories and other financial information to route their accounts to the right collections pathway. Scoring and segmenting accounts means no time is wasted chasing the wrong accounts. Patients that can pay promptly are able do so without unnecessary friction. As a result, providers get paid faster. 3. Reduce manual work and staff burnout Chronic staffing shortages continue to plague healthcare providers. In Experian Health's recent staffing survey, 96% of respondents said this was affecting payer reimbursements and patient collections. While automation cannot replace much-needed expert staff, it can ease pressure on busy teams by relieving them of repetitive tasks, reducing error rates and speeding up workflows. Hear Jonathan Menard, VP of Analytics at Experian Health talk to Andrew Brosnan of Omdia about how AI and automation are addressing staff burnout and improving revenue cycle efficiency. 4. Maintain regulatory compliance with minimal effort While regulatory compliance may not directly influence how quickly providers get paid, it does play a crucial role in preventing the delays, denials and financial penalties that impede the overall revenue cycle. Constant changes in regulations and payer reimbursement policies can be difficult to track. Automation helps teams continuously monitor and adapt to these changes for a smoother revenue cycle – often with parallel benefits such as improving the patient experience. One example is Experian Health's price transparency solutions, which help providers demonstrate compliance with surprise billing legislation while boosting patient loyalty via a more compassionate financial experience. 5. Improve the end-to-end claims process Perhaps the most obvious way RCM automation leads to faster reimbursement is in ensuring faster and more accurate claims submissions. Automated claim scrubbing, real-time eligibility verification, more reliable coding, and easier status tracking all improve the chances of a provider being reimbursed promptly and fully. And as artificial intelligence (AI) gains traction, providers are discovering new ways to use technology to improve claims management. AI AdvantageTM uses machine learning to find patterns in payer behavior and identify undocumented rules that could lead to a claim being denied, alerting staff so they can act quickly and avert issues. Then, it uses algorithmic logic to help staff segment and rework denials in the most efficient way. Providers get paid sooner while minimizing downstream revenue loss. 6. Get better visibility into improvement opportunities Finally, automation helps providers analyze and act on revenue cycle data by identifying bottlenecks, trends and improvement opportunities. Automated analyses bring together relevant data from multiple sources in an instant to validate decisions. Machine learning draws on historical information to make predictions about future outcomes, so providers can understand the root cause of delays and take steps to resolve issues. A healthcare revenue cycle dashboard is not just a presentation tool; it facilitates real-time monitoring of the organization's financial health, so staff can optimize workflows and speed up reimbursement. Revenue cycle automation is the solution Just like any business, healthcare organizations must maintain a positive cash flow to remain viable and continue serving their communities. Together, these six revenue cycle automation strategies can cut through many of the common obstacles that get in the way of financial stability and growth. Learn more about Experian Health's revenue cycle management technology and see where automation could have the biggest impact on your organization's financial health.

Racing against the clock to troubleshoot billing issues, claims bottlenecks and staffing shortfalls are just part of an average day for healthcare revenue cycle managers. It's hard enough to maintain the status quo, never mind driving improvements in denial rates and net revenue. With integrated artificial intelligence (AI) and automation, many of these challenges in revenue cycle management (RCM) can be alleviated – and with just a single click. Real-time coverage discovery and coordination of benefits software reduces errors and accelerates accurate claim submissions. This eases pressure on busy RCM leaders, so they have the time to focus on improving the numbers that matter most. Top challenges in revenue cycle management Efficiency is the currency of revenue cycle management. Maximizing resources is not just about keeping dollars coming in the door but about making the best use of each team member's time and expertise. The ever-present call to “do more with less” is probably the biggest challenge. Breaking that down, some specific concerns that consume more time and resources than RCM managers would like, are: Complex billing procedures: With hundreds of health payers operating in the US, each offering different plans with different requirements, providers have their work cut out to ensure claims are coded and billed correctly. Any errors in verifying a patient's coverage, eligibility, benefits, and prior authorization requirements can lead to delays and lost revenue. More claim denials: Inaccurate patient information and billing codes guarantee a denial. Beyond the rework and revenue loss, denied claims leave patients with bills that should not be their responsibility to pay, causing confusion, frustration, and higher levels of bad debt. Garbage in, garbage out. Patient payment delays: A few years back, patients with health insurance represented about a tenth of bills marked as bad debt. Now, this group holds the majority of patient debt, according to analysts. The rise in high-deductible health plans combined with squeezed household budgets means patients are more likely to delay or default on payments. Providers must be on the lookout for ways to help patients find active coverage and plan for their bills to minimize the impact of these changes. How can AI-powered revenue cycle management solutions help? The Council for Affordable Quality Healthcare (CAQH) annual index report demonstrates how much time can be saved using software-based RCM technology. Case in point: switching from manual to automated eligibility and benefits verification could save 14 minutes per transaction. This adds up quickly when daily, monthly, and yearly transactions are factored in. Predictive analytics can be used to pre-emptively identify and resolve issues and support better decision-making, giving providers a head start on those elusive efficiency gains. Three specific examples of how automation, AI and machine learning can streamline the front-end and solve challenges in revenue cycle management are as follows: 1. Upfront insurance discovery to find and fill coverage gaps Confirming active coverage across multiple payers gives patients and providers clarity about how care will be financed. But this can be a resource-heavy process when undertaken manually. Coverage Discovery uses automation to find missing and forgotten coverage with minimal resource requirements. By unearthing previously unidentified coverage earlier in the revenue cycle, claims can be submitted more quickly for faster reimbursement and fewer write-offs.With Experian Health's recent acquisition of Wave HDC, clients now have access to faster, more comprehensive insurance verification software solution. The technology works autonomously to identify existing insurance records for patients with self-pay, unbillable, or unspecified payer status and correct any gaps in the patient's coverage information. The patient's details are updated automatically so that a claim can be submitted to the correct payer. 2. Real-time eligibility verification and coordination of benefits As it gets harder to figure out each patient's specific coverage details, it also makes sense to prioritize automated eligibility verification. Eligibility Verification uses real-time eligibility and benefits data to confirm the patient's insurance status on the spot.Similarly, Wave's Coordination of Benefits solution, now available to Experian Health clients through Patient Access Curator, integrates directly into registration and scheduling workflows to boost clean claim rates. It automatically analyzes payer responses and triggers inquiries to verify active coverage and curate a comprehensive insurance profile. This means no insurance is missed, and the benefits under each plan can be coordinated seamlessly for more accurate billing. 3. Predictive denials management to prevent back-end revenue loss Adding AI and machine learning-based solutions to the claims and denials management workflow means providers can resolve more issues pre-claim to minimize the risk of back-end denials. Use cases for AI in claims management might include: Automating claims processing to alleviate staffing shortages Reviewing documentation to reduce coding errors Using predictive analytics to increase operational efficiency Improving patient and payer communications with AI-driven bots All of these contribute to a front-loaded denials management strategy. While prevention is often better than a cure, AI can be equally effective later in the process: AI AdvantageTM arms staff with the information they need to prevent denials before they occur and work them more efficiently when they do.Whatever new challenges may pop up on the RCM horizon, AI and automation are already proving their effectiveness in helping providers save time and money. But more than that, they're giving busy RCM leaders the necessary tools to start future-proofing their systems for persistent and emerging RCM challenges. Learn more or contact us to find out how healthcare organizations can use AI and automation to manage current revenue cycle management challenges with a single click.