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RCM Insights: Who’s Going to HFMA Next Week?

by | Jun 20, 2024 | Revenue Cycle Management

The HFMA Annual Conference stands as the leading event in healthcare finance, attracting over 3,000 attendees nationwide. This four-day gathering features four strategy-focused general sessions, more than 70 educational sessions, and seven distinct content tracks.

Some attendees offered their motivations for participating. Here are their responses.

Amy Amick, Chief Executive Officer, Aspirion

The annual HFMA conference is always an exceptional use of my time. This year, I am most interested in attending our AI, Innovation & Technology’ track to hear directly from the trailblazers who are leaning into revenue cycle innovation and I look forward to sharing Aspirion’s best practices with other healthcare leaders to help them optimize AI effectively.

We serve in an industry where hospitals and care providers have to fight to be properly and fairly reimbursed—and the landscape for how to navigate the payer complexities and the intricate ever-changing landscape is perpetually evolving. The conference is an important venue to better understand emerging challenges, advance dialog on what is next to come, and collaborate on how to further enhance revenue cycle outcomes.

Spencer Allee, Chief AI Officer, Aspirion

HFMA’s annual conference is a can’t-miss event for healthcare leaders focused on driving transformation. I’m really excited about Aspirion’s AI, Innovation & Technology track. It will give us a peek into the cutting-edge, where forward-thinking organizations are unleashing the power of AI for areas like revenue cycle optimization and payer contracting. Advanced tech is reshaping healthcare, and this track shows the tangible benefits of integrating AI into the ecosystem.

As an early AI adopter in the revenue cycle, we’ve seen firsthand how the technologies for extracting information, creating scoring models, and automating workflows have grown more sophisticated. Yet AI isn’t as widespread in RCM as you’d expect. I’m looking forward to sharing valuable insights, best practices, and innovative ways to maximize revenue integrity, minimize denials, streamline prior authorizations, and boost overall financial performance. With reimbursement models constantly shifting and compliance rules getting complex, advanced tech like AI and machine learning can be total game-changers.

Jim Bohnsack, Chief Strategy Officer, Aspirion

HFMA Annual couldn’t come at a better time as we confront escalating denials driven by payers’ aggressive use of sophisticated algorithms and technologies to scrutinize claims. They are applying increasingly complex criteria to claims submission and medical necessity determinations. This technological imbalance is severely impacting our revenue cycles.

I’m bringing together leaders from Kaiser Permanente, Community Health Systems, and King’s Daughter Medical Center to explore revenue cycle use cases for AI, ML, and automation, and discuss ROI potential—including gaining efficiencies and maximizing revenue. We need equally advanced AI and machine learning capabilities to analyze payer behaviors, identify underpayment patterns, optimize contract modeling, and automate denials management workflows.

While powerful, these technologies must be implemented responsibly through robust data governance and within ethical guardrails. As payers leverage AI offensively, we’re obligated to adapt using these same innovations defensively to protect reimbursements and revenue integrity. But upholding patient interests must remain paramount. I’m eager to share our organization’s AI journey and learn from these trailblazers who are on the frontlines deploying advanced technologies to level the technological playing field against payers’ data-driven tactics. Through strategic collaboration, we can get ahead of the AI curve impacting revenue cycles.

Read full Healthcare IT Answers article.

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