In an era when healthcare costs continue to soar, a deviation from the status quo is becoming increasingly necessary. Backing this up are recent findings by the Federal Reserve Board, which unearth an uncomfortable truth—that 28% of adults in the U.S. were compelled to forgo medical care in 2022 due to exorbitant costs. Both alarming and disappointing, this statistic underscores the urgent need for a transformative take on healthcare that places patients at the helm of their own unique
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How Physician Groups Can Fight Back Against Private Equity
As a society, we should all be concerned about the increasing rate at which private equity firms are acquiring physician groups. Over the last decade, private equity firms have invested nearly $1 trillion in approximately 8,000 healthcare deals, encompassing a wide spectrum of medical services, from fertility clinics to neonatal care, primary care to cardiology, hospices, and everything in between.
The consequence? Healthcare has shifted towards a profit-driven model where physicians have
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Unlocking Medical Device Potential: Data Integration Drives Better Patient Outcomes
The types of medical devices available and their use in patient care continue to accelerate. The medical devices market is anticipated to surpass $656B by 2032, and it is poised to reach a compound annual growth rate (CAGR) of 3.0% between 2023 and 2032. From monitoring devices, infusion pumps, implanted devices, autoinjectors and diagnostic devices to wearables, the number of devices – and the data they produce – has exploded.
For healthcare organizations, that means a constant barrage
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Why Hospitals & Health Systems are Shifting IT to Managed Services
The two largest technology trends occurring in healthcare delivery – digital transformation and cyberattacks – are understandably driving the adoption of more IT platforms, applications, and other tools within health systems and hospitals. Concurrently, features within electronic health record (EHR) systems continue to proliferate and increase in complexity.
Although these health IT solutions are designed to save time for providers and administrators during their patient care and business
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5 Key Steps to Successful AI-powered Discharge in Hospitals
Every day, hospital teams are facing inpatient flow challenges like excessive emergency department surgical admit boarders. To help overcome these challenges and improve access to urgent care, clinical leaders have focused on improving efficient discharge practices to ensure beds are available for incoming patients.
With a goal to both safely and efficiently discharge patients as soon as clinically ready, many hospitals may be tempted to consider
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Beyond Credentialing: How PDM Drives Quality Care & Revenue
As healthcare costs continue to rise and workforce shortages reach a critical level, hospitals and health systems must rethink their tech stacks and processes to find success in 2024 and beyond. Provider data management (PDM), a function once relegated to the basement of hospitals, today plays a critical role in driving workforce efficiency, revenue, and patient outcomes. By implementing an end-to-end PDM solution, hospitals and health systems can maximize patients’ and clinical providers’ time
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3 Lessons in Digital Patient Engagement from Healthcare’s ‘Most Wired’ Organizations
Digital patient engagement is a balancing act of determining where resources should be deployed and how to create cheer-worthy experiences.
The stakes for delivering the right mobile experience in healthcare have never been higher. A recent Accenture survey found digital engagement has a significant influence on patient retention. This raises pressure for health systems to design digital tools and experiences that strengthen patient loyalty and protect or increase revenue.
Meanwhile,
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Demystifying VBC Contracting: Key Considerations for Quality & Data Success
In the ongoing transition to value-based care (VBC), provider contracting poses challenges for health plans and providers. In my past role as the VP of Quality at a large health plan, I was part of the team that reviewed provider contracts that included risk around quality. Adding my role to the review process reduced the frustration of the Network and Quality teams because I could identify the reporting requirements that the health plan couldn't meet and create alignment with measure
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8-Step Strategy to Prevent EHR-Driven Physician Burnout
These days, technology plays a vital role in improving the quality of life, impacting various sectors, including healthcare. Electronic Health Records (EHR) have revolutionized the way medical professionals access and manage patient data, leading to streamlined processes, improved patient care, and increased cost-efficiency. However, with the rapid adoption of EHR, several challenges have arisen, including physician burnout associated with EHR systems. In this article, we will explore a
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2024: The Year of Smarter Automation and AI in Healthcare Revenue Cycle
Artificial intelligence (AI) dominated the headlines in 2023. It was the topic of countless articles, reports and even court cases. Some may be fatigued by it, or even afraid of it, but the reality is AI is here to stay in 2024. The best thing we can all do is learn how to leverage it to make our jobs easier.
In fact, after decades of slogging through manual processes, healthcare organizations are joining the movement and implementing automation and AI solutions to improve revenue cycle
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