SOUTH SAN FRANCISCO, Calif., April 6, 2021 /PRNewswire/ -- AKASA, the only Unified Automation™ company for revenue cycle management in healthcare, announced that its AI Technology Lead, Byung-Hak Kim, Ph.D., is leading a discussion today at 3:10 pm ET on how to address Baumol's cost disease in healthcare with machine learning.
Baumol's cost disease is the rise of salaries in jobs that have experienced no or low increase of labor productivity, in response to rising wages in other jobs that have experienced higher labor productivity growth. The Baumol effect has been a significant driver of costs in healthcare for decades with no clear path to reversing these effects in our healthcare system.
In his talk, Kim presents the recent progress of harnessing state-of-the-art deep learning techniques in automating how medical bills are processed and paid in healthcare revenue cycle management. Making the billing process more efficient allows health systems to redirect investment into patient care while minimizing wasteful spending.
These advancements can help health systems and hospitals increase productivity, maximize the value delivered by their administrative staff, and minimize the impact of Baumol's cost disease on their organization so they can invest more in patient care.
Byung-Hak Kim, PhD, has focused on machine learning research and development in real-world applications in the challenging areas of human health, education, and speech. Kim holds a bachelor's and master's degree in Electrical Engineering from Korea University and a doctorate degree in Electrical & Computer Engineering at Texas A&M University.
You can register for free to listen to Kim's presentation at: www.nlpsummit.org/curing-baumols-cost-disease-in-healthcare-with-machine-learning/
At AKASA, we believe every dollar spent on healthcare matters because healthcare matters to everyone. The only Unified Automation™ company for healthcare, AKASA uses the same machine learning approaches that made driverless cars possible to provide health systems with a single solution for automating revenue cycle operations. AKASA's unique expert-in-the-loop approach, Unified Automation™, combines modern machine-learning with human judgment and subject matter expertise to provide robust and resilient automation. Unified Automation™ adapts to the highly dynamic nature of revenue cycle operations and has been purpose-built for healthcare. AKASA enables health systems to decrease their cost to collect so they can invest more in patient care and be better stewards of the healthcare dollar. AKASA is based in the heart of Silicon Valley. Learn more at www.akasa.com.