XR stands for extended reality. Basically, it's an umbrella term covering the VR (virtual reality), AR (augmented reality), and MR (mixed reality) technologies. All three are already involved or will be involved in healthcare. In the very near future, you will be able to “swipe” between all three within an application. Different combinations of the technologies will be used to provide specific health benefits, eventually all within a single platform.
It is sometimes hard to explain to people
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Medical Billing | Revenue Cycle | Patient Financial Experience | News, Analysis, Insights - HIT Consultant
Cedar Unveils New Insurance Features for Patient Payment Platform
Cedar has announced the expansion of its patient payment and engagement solution, Cedar Pay, with innovative features designed to guide patients to the best resolution for common insurance-related issues.Patients are half as likely to pay claims with unexpected insurance adjustments (such as common denials) than they are for standard adjustments (such as a deductible), as identified by Cedar data. The gap is driven by the failure of most billing communications to proactively give patients the
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Change Healthcare: Applying AI Could Identify Up to 35% of Denials Prior to Submission
Change Healthcare AI can help providers identify problem claims and prevent denials before they happen, avoiding costly rework, delays, and improving revenue flow.Today Change Healthcare announced that it has applied its Claims Lifecycle Artificial Intelligence (AI) technology to its claims management suite with the introduction of Assurance Reimbursement Management™ Denial Propensity Scoring and Revenue Performance Advisor Denial Prevention. With performance enhanced by Claims Lifecycle AI,
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Global Medical Billing Outsourcing Market to Reach $19.7B by 2026
The global medical billing outsourcing market size is projected to reach USD 19.7 billion by 2026 expanding at a compound annual growth rate (CAGR) of 11.8%, according to a Grand View research report. The report reveals that revenue cycle management (RCM) is one of the most complex components of healthcare IT business driven by challenges in rising healthcare costs, market consolidation, an explosion in clinical documentation, and value-based care initiatives.Key Market Drivers for Global
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Glens Falls Hospital Reaches Settlement with Cerner over $38M Billing Problems
Glens Falls Hospital has reached a settlement with Cerner over $38M in losses suffered when Cerner’s billing system malfunctioned in 2017 after going live in November 2016, according to The Post-Star. Glens Falls Hospital President and CEO Dianne Shugrue announced the settlement in an ad in The Post-Star. Shugrue did not provide financial details about the settlement with Cerner or when the settlement was reached.“As is customary in resolving business disputes, the terms are confidential. It was
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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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Why Healthcare Marketers Should Care about the Patient Financial Experience
What comes to mind when you think of health system marketing? For most people, it’s dynamic content on the organization’s latest clinical advancements, philanthropic efforts, wellness management and relationship-building efforts within the community it serves. It’s also understanding patients and their motivations, using consumer research and analysis, focus groups, surveys, and other tools. You probably don’t think about the healthcare billing experience.It’s understandable. Frank discussions
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R1 Expands Physician Practice Footprint with CarePoint Health and Holston Medical Group
Hatred of billing and payment processes is a time-honored tradition in healthcare. Two of the biggest reasons it’s so frustrating as a patient are the lack of transparency and digital elements that we expect out of any typical consumer experience. R1, a provider of technology-enabled revenue cycle management (RCM) services is working to change this, announcing today its continued expansion into the physician practice market with the addition of CarePoint Health, one of the largest privately-held
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Cedar Unveils Next Evolution of Patient Payment Platform to Optimize Revenue Cycle
Cedar, a patient payment and engagement platform, announced the next evolution of its flagship solution, Cedar Pay. The enhancements now allow providers to offer a truly unified patient billing experience and simple checkout options.Healthcare executives still struggle to help patients understand and pay healthcare bills, with 50 percent of provider executives reporting the need to improve the patient billing and payment experience, according to a recent Cedar study. The next evolution of
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Fellow Health Partners Acquires Medical Billing Company Physicians Management, Inc.
Fellow Health Partners, Inc., a New York-based medical business solutions company, today announced its acquisition of Physicians Management, Inc., a long-established medical billing company based in Rochelle Park, New Jersey. Fellow Health Partners expects to continue its rapid growth by combining acquisition of well-respected medical billing companies with its superior technical and customer services for hospitals, medical practices, and ambulatory surgery centers.“Physicians Management has
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