What You Should Know: - Inbox Health, the platform modernizing patient payments announced it has raised $15M in Series A funding led by Commerce Ventures with participation from new and existing investors, including venture firms Vertical Venture Partners, Healthy Ventures, Collaborative Fund, Fairview Capital, CT Innovations, and I2BF Global Ventures, as well as several industry leading individuals including Bill Clerico, Co-Founder and Former CEO of WePay. - The company plans to utilize
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Could ‘Hospitals Without Walls’ Be the New Normal for Telehealth and Remote Patient Monitoring?
The statistics surrounding the COVID-19 pandemic continue to be startling, despite the ever-growing mental and physical fatigue that we’ve all experienced living through this frightening, intimidating and unprecedented era. More than 125 million cases worldwide have resulted in a death toll closing in on three million, while in the United States alone, 30 million reported infections have resulted in a death toll that reached 550,000. (1) One thing that can be said for certain about
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Marpai Health Acquires Continental Benefits to Launch First Smart Health Plan System
What You Should Know: - Today Marpai Health announced that it will acquire third-party administrator Continental Benefits. Marpai brings deep learning to self-insured health plans, which will allow for the processing of comprehensive data to increase quality care, reduce costs, simplify the healthcare experience, and empower plan members to live healthier lives. The transaction is expected to close in April 2021. - Continental Benefits, owned by Damien Lamendola, is a
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3 Steps to Maintain Telehealth’s Momentum Post-Pandemic
In the face of COVID-19, healthcare witnessed how crises can become the long-awaited push for creativity and innovation that the industry needs. When our healthcare infrastructure’s weaknesses were exposed, telehealth helped to stitch them up, with the number of telehealth claims increasing 8,336% nationally from April 2019 to April 2020. Out of need, patients quickly turned to telehealth as a new model of care delivery; clinicians adapted to a new avenue for engaging with patients, policymakers
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Provider Strategies for Mitigating Telehealth Fraud & Abuse in 2021
As healthcare spending continues to rise, so too does the inherent risk for bad actors to take advantage. Today, the United States is estimated to spend nearly 18 percent of its GDP, or $3.6 trillion, on healthcare, and is expected to increase to one-fifth of GDP within the next decade, according to the latest data. This alone provides ample motivation for fraud and abuse. While the full extent of healthcare fraud is difficult to measure, The National Health Care Anti-Fraud Association
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Hospital Sustainability Demands that Revenue Integrity Move Front and Center
Razor-thin operational margins coupled with substantial and ongoing losses related to COVID-19 are culminating in a perfect storm of bottom-line issues for U.S. hospitals and health systems. A study commissioned by the American Hospital Association (AHA) found that the median hospital margin overall was just 3.5% pre-pandemic, and projected margins will stay in the red for at least half of the nation’s hospitals for the remainder of 2020. The reality is that an increase in
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The Future of Patient Access: From Appointment Reminders to Automated Patient Journeys
The concept of 'Patient Access' has evolved significantly. We all remember the good old days when patient access was an inbound responsive model – patients dialed into a call center phone number and were connected "round-robin" to the next available staff member with their call script. Then outbound voice and email messages and patient appointment reminders became common, and now access centers have begun to deploy more advanced communication channels such as natural language voice response,
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4 Ways Healthcare Organizations Can Establish Partnerships to Drive Innovation
With public and private healthcare spending significantly outpacing that of other countries, U.S. hospitals face intense pressure to find new ways to capture greater value. More and more, organizations are finding that partnerships with existing vendors can help unlock next-level performance gains in a transformative environment. Take Nebraska Medicine, for example. In the early 2000s, the health system created multidisciplinary committees to boost revenue integrity and adopted new revenue
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Why Now’s the Time to Use Connected Health Devices for Diabetes Prevention
It’s no secret that chronic disease remains the leading cause of death worldwide, taking up 90 percent of healthcare spending in the United States. For the last several years, there has been a rise in discussions and research around the promise of connected health devices helping manage and prevent chronic conditions as well as healthcare spending. However, today a number of factors are coming together to make that promise a reality. This includes the improvement of real-world data insights
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Why COVID-19 Underscores The Importance of Social Determinants of Health
Google “Social Determinants of Health” and one will quickly discover a kind of litany of data pointing to a certain definition of “health” defined by the World Health Organization (WHO) as “A state of complete physical, mental and social well-being not merely the absence of disease or infirmity,” and socioeconomic barriers, which may prohibit equitable access to good health and wellness (Healthcare) more completely among diverse populations. Nevertheless, the heart of the matter
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