AI-Powered Hospital Accounting: Towards Sound Financial Management

AI-Powered Hospital Accounting: Towards Sound Financial Management

Copyright: © 2024 |Pages: 22
DOI: 10.4018/979-8-3693-1561-3.ch005
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Abstract

Healthcare organizations have unique challenges in preserving their financial stability. Due to the rising cost of healthcare, changing payment models, and the need to provide patients with high-quality treatment, hospitals are under continual pressure to optimize their financial operations. Conventional hospital accounting methods may not be enough in this rapidly evolving environment. The potential of artificial intelligence (AI) to transform hospital accounting and provide a means of enhancing financial stability is explored in this chapter. Automation, data analytics, and advanced machine learning algorithms are used in AI-driven hospital accounting to improve accuracy, speed up financial processes, and support well-informed decision-making.
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The Aspects Of Social And Ethical

Artificial intelligence (AI) raises ethical and societal questions despite its numerous advantages. The use of AI has raised many concerns, such as algorithmic bias, data privacy, job displacement, and the need for transparency in AI decision-making procedures. These problems need to be addressed in order to fully harness AI's potential. Artificial intelligence, with its roots in deep learning, machine learning, and natural language processing, is a prime example of technical advancement. From being only an idea, it has developed into the driving force behind several innovations and achievements in a variety of sectors. Understanding AI's underpinnings is necessary to appreciate the technology's potential and the continuous transformative implications it is having on our world. It will be our responsibility to navigate the ethical and social implications of AI as it advances while simultaneously appreciating its potential to benefit both local communities and the global community. Ultimately, enormous authority carries a great deal of responsibility.

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