Todd Van Meter, CEO of Accuity, highlights the evolution of the revenue cycle from simple billing and coding to include data analytics to reduce friction and prevent revenue leakage. Accuity specializes in reviewing inpatient accounts before billing, using a combination of AI and physicians to ensure claims are compliant and accurate. Getting the clinical analysis and coding correct initially significantly reduces costly, time-consuming clinical denials.

Todd explains, Revenue cycle is a term that's really become more relevant here, in the last maybe decade plus. Years ago, it used to be called billing and coding and a whole different bunch of terms. And really, it's this whole idea of how, when a patient's going through their care event, how are you tracking them from when they access care all the way through documenting their care to coding the care they received and then getting a bill out to an insurance company or to a patient to get reimbursed for the care they received. And so the transformation has been going on for a long time."

"The cost has been pretty well identified over the years. From a cost perspective, the goal is to perform all of this work as cost-effectively as possible, and faster is better for patients and for hospitals in terms of processing accounts, cash flow, and other financial metrics. So I think what I've seen happening for health systems is that the data is allowing for better visibility, back to your cost point, into where there are opportunities to take out friction, to do things better, faster, cheaper, to process accounts. And to take care of patients better, and communicate better to both patients and insurance companies, and internally, just from a tracking perspective, and to make sure, to your other point, that there's really not any leakage all along the way."

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