Empowering the management and performance accounting system in healthcare organisations with Artificial Intelligence: Literature and industry cases

Abstract

We explore the transformative impact of Artificial Intelligence on the healthcare organisations through a mixed-methods approach that involves a critical analysis of both literature and industry trends (based on real-world practices and illustrative cases), as rapidly emerged in recent years. Specifically, we focus on the powerful yet partially underexplored intersection of AI in health management and accounting systems. As technological advancements reshape the healthcare landscape, we found AI to be a pivotal tool in managing, innovating, and optimising strategic and operational processes, thereby enhancing executive decision-making. The main outcome of such a process – facilitated by an effective collaboration between managers and experts (data scientists and IT professionals) – is the improvement of both patient care and financial efficiency in order to create overall value. This is achieved through more in-depth real-time monitoring of key performance indicators (KPIs) such as patient outcomes, resource utilisation, and financial metrics. We also critically review new challenges including data privacy, security, and ethical considerations, highlighting the importance of responsible AI deployment to build patient trust and ensure regulatory compliance. Additionally, raising public awareness of AI and establishing standardised guidelines are necessary steps. By investigating novel applications of AI in healthcare administration, financial management, and the synergies between these areas, the article can benefit a diverse audience across various domains, including healthcare, technology, public administration, and academia. Limitations and future research directions are also outlined.