AI Investments That Improve Physician Experience, Revenue and Margins with Mike Lewis

Hospital and health system leaders face a complex strategic agenda, including market growth, sustainable margins, technology investments, and workforce challenges. The Becker's 14th annual CEO CFO Roundtable gathers over 1,500 executives and nearly 400 speakers to help C-suite leaders refine their priorities in light of these pressing issues.

Mike Lewis, CFO of Anvita Medical Group, shares insights from his extensive experience in healthcare, particularly regarding the integration of artificial intelligence (AI) in operations. He emphasizes the importance of evaluating AI investments not only from a financial perspective but also in terms of enhancing patient and clinician experiences. Anvita has reported significant improvements, including a 14% increase in patient-facing time and a 27% reduction in after-hours documentation, leading to better clinician satisfaction and retention.

Lewis highlights the need for accurate documentation to match the care provided, which can reduce denial rates from payers and expedite revenue cycles. He advises other finance leaders to collaboratively define success metrics with clinicians before implementing AI, ensuring that the technology serves to alleviate burdens rather than add to them. Looking ahead, he envisions AI freeing up healthcare professionals to focus more on patient interactions, ultimately improving both financial outcomes and workforce retention.

In this episode, Mike Lewis, CFO, Onvida Medical Group, discusses how his organization is measuring the financial and clinical impact of AI, including a 14% increase in patient-facing time, 35% documentation time savings and improved revenue yield. He also shares strategies for improving revenue capture, reducing payer denials and using technology to reduce physician burnout while strengthening margins.