PwC this week said it's working with Amazon Web Services to drive new innovations for how hospitals and health systems can tackle revenue cycle management challenges.
WHY IT MATTERS
With the collaboration, PwC’s Revenue Cycle Managed Services will be available on AWS. The two companies will also team up to build new AI agents and tools designed to help healthcare organizations boost their financial performance, streamline their operations and enable better financial experiences for their patients.
With a focus on patient billing, insurance claims, denial prevention, collections and reimbursements, the collaboration will allow PwC to make use of AWS cloud services – Amazon Connect, AWS HealthLake and Amazon Bedrock – to deploy advanced AI agents powered by model choice capabilities.
Running on AWS – with its secure and scalable cloud infrastructure enabling real-time insights, process automation and more – will offer optimized foundation models for clients' specific revenue cycle challenges, PwC says – delivering a "smarter, faster and more adaptive solution that addresses labor shortages, reimbursement pressures and rising technology costs."
THE LARGER TREND
Financial and revenue cycle challenges continue across the healthcare industry. For instance, many providers will be facing a "a steep learning curve" managing new risks, processes and training burdens under the WISeR Model, the new mandatory Medicare prior authorization and claims review pilot starting in 2026.
Meanwhile, AI is transforming the revenue cycle, mostly for the better, as more providers are taking downside risk.
ON THE RECORD
"Our collaboration with AWS addresses a critical industry challenge: healthcare organizations are drowning in fragmented systems that create friction instead of resolution," said PwC Global & US Managed Services Leader Tim Canonico in a statement.
"By running our Revenue Cycle Managed Services on AWS, we're able to harness Amazon Bedrock's model choice capabilities to deploy the right AI foundation models for each client's unique revenue cycle challenges."
Mike Miliard is executive editor of Healthcare IT News
Email the writer: mmiliard@himss.org
Healthcare IT News is a HIMSS publication.
