3 Ways Advanced Technology Will Improve Mental Health Billing and Claims in 2018 and Beyond
2018 will a be a year where nearly all sectors and industries see the beginnings of the “futuristic” technologies that have graced headlines for the past few years. While we won’t see any dramatic, sci-fi interpretations of robots and artificial intelligence into daily operations quite yet, we will see the foundations laid for the world of tomorrow.
At Denmaar we are currently working on advancing our revenue management software to become more responsive. We are also in the final stages of adapting an app for managing billing and claims. As you’ll see in this blog post, we see these advancements as being essential to the future mental health billing and claims, and offering our clients the absolute best options.
Here are three key ways advanced technology will improve mental health billing and claims in 2018 and beyond:
Blockchain will increase the ability of computer systems or software to exchange and make use of information.
Blockchain has the potential to better manage data and records for mental health professionals. If you look at patient info as collected data, smart technology will eventually be able make your systems easier to manage by locating and organizing this data optimally. David Houlding, Director, Healthcare Privacy & Security at Intel explains the role of blockchain and potential perfectly in a LinkedIn article.
“Blockchains will augment such enterprise systems in the role of enterprise B2B network middleware, and enable secure exchange of minimal but sufficient data to enable specific healthcare use cases. in a given use case such as health information exchange the blockchain could be used to store metadata about healthcare records, enabling the blockchain to function as a “record locator service”. This in turn enables discovery of relevant records as needed by healthcare organizations across blockchain network, and subsequent point to point secure sharing of such records to enable improved quality of patient care, and reduced cost of care.”
Encrypted smart contracts will enable further expansion into secure contracting between many parties.
In an article for VentureBeat, Co Founder of Seal Software, Kevin Gidney says that he expects “that a merging of technology and standards will begin to occur in 2018, with the core functionality for intelligent contracts (IC) becoming available at the protocol level.” He explains that “this is already starting to materialize as smart contracts, which keep sensitive data encrypted at all times, have become available on the blockchain. End-to-end encryption and security can enable further expansion into secure contracting between many parties, and this key component of both IC and AI-enabled secure learning could see applications built on a new IC framework.” Encrypted, secure contracts has the potential to revolutionize the process and systems for mental health billing and claims. If adapted by the insurance industry, it can make the exchange of client information, transactions and payments quicker my minimizing the amount of steps in the process.
Artificial intelligence and machine learning will continue to use data to create
“Blockchain and smart contracts enable secure and efficient data sharing and processing across B2B networks of healthcare organizations, and these technologies pave the way for increased discovery and access to healthcare data across these networks to power AI and ML. As blockchains and smart contracts grow they will increasingly over time provide a foundation that enables AI and ML to fully realize their value to healthcare, radically improving the quality of patient care, while also delivering major reductions in the cost of patient care.” explains Houlding. Artificial intelligence will continue to learn, become stronger and utilize all of the data we collect and manage, and in turn become responsive. Intelligent software that recognizes codes, patterns with patients, and essentially researches and find answers to questions before you need to ask them could make the mental health billing can claims a near instantaneous process.