What You Should Know:
Epic, Nordic, Impact Advisors and The Chartis Group won the 2023 Overall Best in KLAS® awards. Epic was named the top Overall Software Suite for the thirteenth straight year in 2023 Best in KLAS – Software & Services report, released, which reports on the top vendors for 2022. Epic was also named the top Overall Physician Practice Vendor. Epic won thirteen other Best in KLAS awards in various market segments.
- Impact Advisors tied with Nordic to be a
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Denials Management
If You Are Not Using AI for Medical Coding, You Are Not Doing Your Job
A quick, efficient, and well-managed revenue cycle creates a solid foundation for a profitable medical organization. That’s why if you’re responsible for ensuring the health of your organization's revenue cycle and you are not using AI for medical coding, you are not doing your job.
Let me explain.
Some RCM professionals may see medical coding as a small portion of the revenue cycle; however, its reach is wide. The quality and accuracy of medical coding can either negatively or
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Notable Launches End-to-End Revenue Cycle Workflow Automation Solution
What You Should Know:
- Notable, a San Mateo, CA-based intelligent automation company for healthcare has launched expanded capabilities for comprehensive revenue cycle management (RCM) automation.
- Unlike traditional point solutions that only automate siloed parts of the revenue cycle, Notable's intelligent automation platform is the only platform that combines robotic process automation (RPA), artificial intelligence (AI), patient engagement, and no-code configurability to provide the
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33% of Hospital Execs Reported Average Denial Rates of More than 10%
What You Should Know:
According to a recent survey of over 130 hospital executives across the nation, the average denials rate is between 6% and 13%, and over 1/3 of hospital reimbursement executives surveyed responded that their organizations are nearing the denials danger zone of 10%.
The key findings from Harmony Healthcare reflects the need for stronger denials prevention and recovery solutions. Research shows that approximately 85% of denials are preventable, but
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TeraRecon Acquired by SymphonyAI: What is the Impact for Medical Imaging Market?
On the 4th March 2020, TeraRecon announced it had signed an agreement to be acquired by the SymphonyAI Group. Here are the facts of the deal, followed by our take on the potential impact on the medical imaging market:
- The terms of the deal were not disclosed and TeraRecon will continue to operate business as usual. However, it will benefit from greater financial backing and the synergistic technologies from other companies in the Group’s portfolio.
- TeraRecon is an Advanced
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How Intelligent Automation Can Address 3 Revenue Cycle Challenges
Artificial intelligence (AI) has received a lot of buzz and been positioned as the central healthcare technology needed to solve many financial challenges and digitally transform internal operations. However, if you’re looking for practical solutions that can address variable activities and complete work with a high level of quality, today, healthcare organizations should look to intelligent automation.
Here’s why: True AI attempts to mimic human cognition. As such, AI remains
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R1 RCM, Intermountain Opens Technology and Innovation Center
On Tuesday, R1 RCM announced the grand opening of its new Salt Lake City Technology and Innovation Center in collaboration with Intermountain Healthcare. This state-of-the-art facility will be the first of its kind to test and develop new technology to redefine the healthcare revenue cycle process and the patient financial experienceThe grand opening event brought together R1 and Intermountain Healthcare leaders, community business leaders, and local nonprofit organizations for a ribbon cutting,
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XIFIN Expands Patient and Physician Engagement Capabilities
XIFIN announced the expansion of its portfolio of physician and patient engagement solutions with integrated patient responsibility estimation and automated prior authorization capabilities, enabling diagnostic providers to improve their patient experience and physician satisfaction. The new capabilities include a strategic partnership with Glidian that integrates automated prior authorization capabilities with XIFIN’s revenue cycle management and laboratory information system solutions, XIFIN
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CentralReach Acquires Managed Billing Provider Bronco Billing
CentralReach, a provider of practice management software for ABA clinicians and educators, has recently acquired Bronco Billing, giving customers access to a team of billing experts to expedite the billing process and maximize revenue. The acquisition is an expansion of the existing partnership between Bronco Billing and CentralReach allowing customers to improve their billing process through auto-generated claims, receivables collections, payments, and denial re-submissions, so they can spend
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Revenue Leakage: How Big Data Can Address Challenging Denials at Academic Medical Centers
It’s no secret that many hospitals find themselves in faltering fiscal health lately. According to the Harvard Business Review, since the start of 2016, some of the nation’s top hospitals have lost hundreds of millions of dollars of income.These challenges can be especially pressing for academic medical centers (AMCs), who process a large volume of complex, high-ticket medical claims and generate revenue from direct patient care.Today, AMCs are finding themselves less insulated from changes in
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