The cost of following-up on late insurance claims is significantly higher than most industry estimates, according to new survey from Recondo Technology. The survey reveals that despite the availability of exception-based processing to automate the resource-intensive claim follow-up process, most hospitals rely on legacy outsourced or employed manual approaches that have generally failed to lower costs.
Survey Background
Recondo surveyed 80 healthcare finance professionals from hospitals,
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Health IT | News, Analysis, Insights - HIT Consultant
Achieving HIPAA Compliance as a Business Associate
Editor’s Note: This post is co-written by David Wong, Managing Director of Bulger Partners, an advisory firm that specializes in healthcare IT and Mike Kavis, VP/Principal Architect for Cloud Technology Partners.
In 2009, the HITECH Act mandated that not only covered entities but also business associates would be subject to periodic audits as a means to ensure that both are complying with HIPAA Rules. The first phase of these audits, taking place between 2011 and 2012 and involving 115
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Mayo Clinic Unloads Data Center to Epic for $46M
Nearly a year after selecting Epic for its single, integrated EHR and revenue cycle management (RCM) system, Mayo Clinic is selling its 62,000 square-foot data center located in Rochester, MN to Epic for $46M in a sale-leaseback deal, Finance & Commerce reports.
Leaseback, short for 'sale-and-leaseback,' is a financial transaction, where one sells an asset and leases it back for the long-term; therefore, one continues to be able to use the asset but no longer owns it. As part of the
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One Medical Passport Raises $4M to Streamline Pre-op Through Post-op Process
Cloud-based peri-operative medical software provider One Medical Passport, Inc. has closed a $4 million in Series A funding from FCA Venture Partners, a Nashville-based venture capital firm focused on healthcare IT. Founded in 2000 by Stephen Punzak, MD, an anesthesiologist, helps ASCs, hospitals and physician offices work more efficiently while simultaneously improving patient care and increasing patient satisfaction. The company hopes to change the way patients prepare for and recover from
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Navigant Acquires Epic-Focused Revenue Cycle Firm for $52M
Navigant Consulting Inc. has acquired Chicago, IL-based McKinnis Consulting Services, a firm specializing in Epic-focused revenue cycle assessment, strategy, and optimization assistance for healthcare providers. Under the terms of the purchase agreement, Navigant paid approximately $49 million in cash and $3 million in Navigant common stock at closing.
The addition of more than 70 McKinnis consultants is a smart move for Navigant as it seeks to gain further market share in the Epic
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Interoperability Will Define Health IT Vendors In 2016
For the last five years I have witnessed at length the bold predictions of how many startups and app focused companies will revolutionize healthcare as they did the consumer industry. I was always a skeptic and viewed the 'evangelizing' of healthcare apps as being wishful thinking rather than being based on any evidence.
Don't get me wrong, apps are a critical component of clinical IT systems for patients and clinicians but they're just that - one component. A gateway to much more important
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Quality Systems, Inc. Completes $165M HealthFusion Acquisition
Quality Systems, Inc. announced today completion of its acquisition of San Diego-based HealthFusion, a cloud-based software for physicians, hospitals and medical billing services for $165 million plus potential additional contingent consideration of up to $25 million.
“We are pleased to close the HealthFusion transaction on schedule and consistent with the terms previously mentioned,” said Rusty Frantz, president and chief executive officer at Quality Systems, Inc. in an official statement.
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In Retrospective, Meaningful Use was Meaningless
We don’t win anymore in health care. After repeatedly drilling in our heads that America’s sick care system is a disaster, that those who care for the sick are incompetent and stupid, and that the sick themselves are losers, Meaningful Use was advertised as the means by which technology will make health care great again.
The program has been in place for 5 years and the great promise of Meaningful Use is just around the same corner it was back in 2011. The only measurable changes from the
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53% of Consumers Can’t Access Their Electronic Health Data
74% of consumers say easy electronic access to health data would improve their knowledge of their health and improve communication with their physicians, according to a recent survey. The October/November 2015 HealthMine survey of 502 U.S. consumers reveals 53% of consumers cannot access all of their health data from a computer. With higher deductibles and rising healthcare costs, Americans rolling into their 2016 health plans will assume more responsibility for both the cost and control of
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Mount Sinai to Develop App For Patients With Venous Thromboembolism
The Department of Medicine at the Icahn School of Medicine at Mount Sinai has been awarded a $500k grant funded by Pfizer Independent Grants for Learning & Change (IGLC) and Bristol-Myers Squibb Independent Medical Education (IME). The grant focuses on accelerating the development and adoption of evidence-based approaches to improve the safety and effectiveness of patients with the diagnosis of venous thromboembolism (VTE) as they move from one care setting to another.
The $500k, 24
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