Thinking about a healthcare career? You’ll need to know AI.

By: N. Adam Brown, MD MBA - Chief Medical Officer, Radiant Healthcare

More than 9 in 10 college graduates “want to make a difference” in their jobs. 

Healthcare is an obvious avenue for purpose-minded students, but these future workers will need more than a compassionate bedside manner to earn a spot in this competitive industry. They will need to understand how to use artificial intelligence (AI) for the good of patients, providers, and their communities.

As the healthcare industry increasingly embraces technological innovation, AI has emerged as a transformative force, enhancing diagnosis, treatment, and patient care. 

It is crucial for those pursuing careers in healthcare to comprehend the integral role AI plays in revolutionizing the field. However, it is equally important that they view AI not as a replacement, but as a powerful tool augmenting their capabilities. 

AI will not replace you. It will make you better.  

Unless you are developing or selling AI platforms, the term artificial intelligence may spark worries about job security. Indeed, according to Gallup, 22% of U.S. workers admitted they worry AI will replace their jobs — an increase from 2021.

Anxiety is highest among digital natives. Workers concerned about AI tend to be young, college-educated, and make less than $100,000 a year.

Let me be clear: AI is not going to replace physicians or nurses, and it will not even replace coders and billing specialists. But it will help everyone in the healthcare industry do their jobs better. Students and those applying to healthcare jobs must acquire a comfortable understanding of AI, appreciating its capacity to process vast datasets, identify patterns, and support evidence-based decision-making. 

By harnessing AI's potential, future healthcare professionals can usher in a new era of precision medicine, streamline administrative tasks, and ultimately improve patient outcomes. 

IBM has noted, for example, that AI could be used to help identify errors in how a patient self-administers medications. The company cited a study in Nature Medicine that found an AI-powered tool that sits in the patient’s background (much like a Wi-Fi router) could help the 70% of patients who do not take insulin as prescribed by flagging errors in how the patient administers their medicine.

AI also can improve quality and costs in healthcare finance. In fact, artificial intelligence will reshape Revenue Cycle Management (RCM) by enhancing accuracy, automating data processing, and streamlining the verification of clinicians.

Revolutionizing healthcare finance: The role of AI in revenue cycle management automation

In the ever-evolving world of healthcare finance, there is a pressing need for innovation and efficiency to ensure the financial sustainability of healthcare organizations. Hospital margins have stabilized in the last few months, which makes it a perfect time for healthcare providers to reassess their long-term strategies and determine how they can make greater use of AI.. 

AI is a transformative force, offering both augmentation and automation of tasks that were once time-consuming and error-prone. The tool is a crucial component of future-proofing RCM. AI can either augment or automate various processes, providing healthcare finance teams with the tools they need to navigate the evolving financial landscape effectively.

One of the standout benefits of AI in RCM is its ability to enhance accuracy in data processing significantly. Traditional methods of manual data entry are susceptible to human error, which can lead to costly mistakes and revenue leakage. AI-driven systems excel in error reduction by automating data entry, validation, and processing. This higher level of precision ensures that claims are processed correctly the first time, reducing the likelihood of claim denials and optimizing revenue collection.

AI's impact on RCM goes beyond improving accuracy. It can also automate data processing tasks that were once time-consuming for healthcare finance professionals. Tasks like patient information verification, coding, and claims processing can be streamlined and expedited with the help of AI. This automation not only frees up valuable staff time but also ensures that these routine tasks are executed consistently and efficiently.

By automating these processes, healthcare organizations can achieve greater accuracy in tasks such as claims submission, payment posting, and patient billing. This increased accuracy translates to faster revenue cycles, reduced errors, and ultimately, improved financial performance. Future workers who come to the table with AI knowledge and acumen will be a serious asset to providers and payors alike. 

Want a higher purpose? AI can help solve healthcare workforce gap

The World Health Organization estimates there will be a shortfall of 10 million health workers by 2030.

AI can help providers get personnel on the floor faster to care for patients. 

The credentialing and verification of clinicians is a critical aspect of healthcare finance, but it can be a time-consuming and complex process. AI-driven solutions can significantly decrease the time required to credential and verify clinicians. 

AI-based systems can efficiently analyze and cross-reference qualifications, licenses, and credentials, ensuring that clinicians are ready to provide services without unnecessary delays. These benefits not only speed up revenue generation, but also enhance the overall operational efficiency of healthcare organizations.

While we need more people who want to become doctors and nurses, future workers who know how to get existing providers on the hospital floor faster will have a lot to offer a potential employer. 

Embracing AI: A necessity, not a choice

Embracing AI in healthcare is not a choice, but a necessity, and students who master its principles will be at the forefront of driving innovation and shaping the future of healthcare delivery. 

Hospital margins may be stabilizing, but the potential for optimization and efficiency gains through AI-driven automation is immense. By leveraging AI's capabilities to enhance accuracy, automate data processing, and expedite clinician credentialing, healthcare organizations can position themselves for sustained financial success.

In this changing landscape, AI is the catalyst that empowers healthcare finance teams to adapt, thrive, and navigate the complexities of the modern healthcare environment. Artificial intelligence is a revolutionary force that ensures that financial health aligns with the mission of providing high-quality patient care.

Looking for a job with purpose after graduation? There is.