The gamble is over for hospitals that avoided complying with CMS price transparency mandates.
After a slow start since they were implemented more than 18 months ago, CMS has issued 350 warnings for noncompliance, 157 corrective action requests, and finally issued fines to two Georgia hospitals in June. It seems many more will be on the way.
The fines are significant. The first two hospitals faced fines of roughly $880,000 and $214,000. Noncompliant hospitals with 550 beds or
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healthcare technology
Evaluating Evidence Base in Digital Health Solutions: The Real Questions Stakeholders Should Be Asking
Throughout the pandemic, digital health companies have seen significant growth, with one study finding that U.S.-based digital health startups surpassed $29 billion in 2021, almost twice the funding seen in 2020. When done correctly, the use of these digital innovations can help people reduce the burden of dealing with mental health challenges by providing accessible, affordable, and timely care to users. As digital mental health interventions (DMHI) continue to battle it out for a leading spot
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Penumbra Launches First Hands-Free, Full-Body VR for Rehab
What You Should Know:
- Penumbra, Inc., a global healthcare company focused on innovative therapies, today announced the first full-body, non-tethered immersive virtual reality (VR) healthcare offering.
- The latest REAL® System y-Series is the only platform to use upper and lower body sensors that allow clinicians to track full body movement and progress in real-time. The expansion of the virtual reality-based healthcare platform, REAL System, will be used to address a broad range of
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Why Data Transparency Is the Most Important Metric for Healthcare Providers Right Now
Healthcare providers all over the world are battling with how to take patient information and patient care digital. How can we use the tools and technology at our fingertips to make treating patients easier and more effective, rather than more complicated? Converting data into useful information will be the key to making this transition successful.
Data is the currency, language, form, and function of digital transformation in healthcare. Having an easily accessible data warehouse and
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TXI Partners with Redox to Help Health Tech Companies Accelerate Improved Patient Care Outcomes
What You Should Know:
- TXI, the strategy and product innovation firm, today is teaming up with Redox, a company accelerating data interoperability in healthcare, to build and scale digital products from startups to enterprise-scale healthcare technology companies. The partnership will help to accelerate care outcomes for providers and patients.
- The partnership comes at a critical time as healthcare systems face staffing challenges, budget pressures, and a continued shift to virtual and
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5 Tips for Building Your Revenue Cycle Metrics Constellation
If you scan a bright, clear night sky, you will likely pick out familiar shapes. Depending on your creativity, you might see Ursa Major and Minor or perhaps only the Big Dipper and its little brother. But those stars are not only entertaining, they also are important points of navigation used by ancient sailors, the Apollo missions, and even the Mars Rover.
Just as sailors might choose the North Star to guide them, CFOs and healthcare revenue cycle leaders often seek a simple,
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Elion Raises $3M to Expand Digital Health Marketplace
What You Should Know:
- Elion, a San Francisco-based independent digital health technology marketplace company, today announced it has raised $3.3M in seed funding from leading digital health investors NEA, Max Ventures, 8VC, AlleyCorp, Charge Ventures and Floating Point, with additional participation from a broad set of healthcare founders and angels.
- In addition to the round of funding, Elion has released its beta product to the public. The company plans to use the funding to
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Bain Capital PE Makes Strategic Investment in CitiusTech
What You Should Know:
- CitiusTech, a leading provider of technology and consulting services to healthcare and life sciences companies, today announced a strategic growth investment from Bain Capital Private Equity (“Bain Capital”).
- Bain Capital joins Baring Private Equity Asia (“BPEA”), which acquired a majority stake in CitiusTech in 2019, as a significant shareholder to accelerate the Company’s growth. Financial terms of the private transaction were not disclosed.
Technology-Driven
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Mitigating Healthcare Cyber Risk Through Vendor Management
Look to these best practices to enhance your organization’s vendor risk management program
Vendor partnerships are critically important in today’s business world, especially as the pandemic accelerated many organizations’ digital transformation and the shift to remote operations, cloud adoption, and virtual services, such as those through telehealth, medical apps, and other healthcare technology and communication platforms continues to expand. This increased reliance on third parties also
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Can the Adoption of Healthcare Technology Keep Up With the Pace of Innovation?
The disruption of the healthcare industry is continuing at a frenetic pace. As reported in a World Economic Forum article, $44 billion was pumped into medical innovations in 2021. Experts expect this influx to continue, all with the hopes of bringing machine learning, artificial intelligence, telehealth, and other technological and digital advancements and processes to both medical professionals and the people they serve.
On the surface, this news is exciting and encouraging.
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