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ABS stands with LA residents during this unprecedented level of destruction. American Business Systems has donated to the Red Cross LA Fund and the LA Fire Dept. Fund.

Here are other ways you can help: https://gearjunkie.com/outdoor/los-angeles-wildfire-how-to-help-donate

Originally written for Billing & Coding Magazine, March/April 2024 (link to full issue)
By Adam Phillips, CEO
American Business Systems
www.ABSystems.com

By now, you may be sick of hearing about “AI”. It’s everywhere. According to a recent Grand
View Research Survey, “The global artificial intelligence market size was valued at USD 196.63
billion in 2023″* and shows no signs of slowing down. The technology has made its way into
virtually every industry imaginable. That’s exactly what AI is, “technology”, which is simply
defined as tangible or intangible tools that assist humankind. Tools alone, without humans to
wield them, don’t produce great results. It is up to humans to use tools to get something done,
perhaps faster, or in the case of medical billing and coding, more accurately.

What AI excels at is data analyzation and pattern detection. A large segment of Practice
Management/Billing/EHR systems are now integrating these AI features into their software.
Another really great use for AI is the ability to “listen” to a doctor talking to a patient and then
“write down” the encounter SOAP notes as with AI ally, the new NextGen Ambient Assistant.
This feature produces 90% accuracy, saving doctors roughly 2 hours per day. Is it totally
replacing a transcriptionist? Not necessarily. The charts still need to be reviewed and finalized by
a human. Same with billing and coding functions.

As with the case of medical billing and coding, this critical function of most medical practices
requires impeccable accuracy. What AI can now do is quickly look at chart notes and determine
what codes should be used for each patient encounter, with limitations based on complexity of
each case, and the fact that there are still numerous note-taking formats. So what AI is able to do,
is make your job as a biller/coder, in effect, easier.

You see, the human element remains crucial for complex decision-making, understanding
nuanced medical cases, and ensuring accuracy in coding. Instead of replacing jobs, AI may
transform them, creating opportunities for collaboration between humans and machines.
For now, charting and coding that has been analyzed or adjusted by AI, still requires a human to
do final review and authorization before processing.

Learn as much about AI as you can. Staying updated on industry trends and technological
advancements can help professionals in the medical billing and coding field stay relevant in the
face of evolving technologies.

While AI may bring changes to the tasks involved in medical billing and coding, it is unlikely to
completely replace human professionals. The collaboration between AI and human expertise has
the potential to enhance the overall efficiency and accuracy of healthcare processes, creating a
symbiotic relationship between technology and skilled professionals in the field.
References:

https://www.grandviewresearch.com/industry-analysis/artificial-intelligence-ai-market

Adam Phillips is the author of 9 Ways Doctors Let Money Slip Through Their Fingers – and how
a few simple ideas can guarantee a private practice will thrive in today’s post-pandemic world.
He is the CEO of American Business Systems, a training and support company for individuals
wishing to start their own medical billing business. He hosts bi-weekly educational webinars at
www.ABSystems.com.