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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Medical Billing | Revenue Cycle | Patient Financial Experience | News, Analysis, Insights - HIT Consultant
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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Patientco Lands $28M to Reimagine the Patient Financial Experience
Patientco latest Series B funding fuels expansion of patient billing and payments technology platform focused on creating a smarter patient financial experiencePatientco, an Atlanta, GA-based next-generation patient billing and payments technology company has raised $28 million in Series B funding led by private equity firm Accel-KKR. The round also included participation from BlueCross BlueShield Venture Partners / Sandbox Advantage Fund. Patientco plans to use the funding to accelerate expand
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The Patient Experience and…Revenue Cycle Operations? The Two Are More Interlinked than You Might Think.
Think back to the last time you read a negative review about a restaurant. After reading the review, you probably dismissed the restaurant and considered other places to eat.Now, imagine you’re a patient considering options for an outpatient procedure and you came upon negative reviews about a provider. Chances are, you probably skipped that provider and opted for a consult with someone else. As providers, how can we fix this? Now, more than ever, patient satisfaction matters, especially given
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DrChrono EHR Integrates with Collectly to Automate Billing & Collections for Practices
DrChrono Inc., the company enabling the medical practice of the future, today announced a new partnership withCollectly, a fellow Y Combinator company that streamlines the billing and collection process for healthcare companies.Collectly digitizes paper bills and works with practices to send patient billing statements and collection notices electronically via text or email. Within the message is a link for patients to go straight to a patient portal to see their statement and instantly make a
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Cedar Raises $36M for Modern Patient Financial Management Platform
Cedar, the patient financial management platform for hospitals, health systems and independent medical groups, today announced a Series B fundraising round of $36 million, led by the global investment company Kinnevik. Participants in the round include existing investors Founders Fund and Thrive Capital, as well as Lakestar, Sound Ventures, Kevin Systrom of Instagram and Nat Turner of Flatiron Health. Cedar plans to use the funding to further invest in the next generation of its innovative
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Methodist Health Systems Taps VisitPay for Patient’s Financial Experience Platform
Methodist Health System in Dallas has selected VisitPay to deploy its market-leading, cloud-based patient financial experience platform. The solution will provide Methodist patients with a simplified billing experience and more flexible financing options tailored to their specific needs. Through VisitPay, patients will have access to a Methodist-branded portal that displays a comprehensive accounting of their financial responsibilities. This helps patients understand what they owe and provides
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Revenue Cycle: Why Patient Segmentation Is Key to Mitigating Financial Risk
With technology continuing to advance, making healthcare internet platforms easier to navigate, patients are becoming savvy consumers who increasingly are shopping for the healthcare they want to receive. Emerging trends, such as higher insurance deductibles and regulatory requirements for upfront estimates, are driving this trend, underscoring the role of patient access to move beyond the “one size fits all” mentality to address these fundamental changes.Traditionally, patients have had limited
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Rev Cycle Startup Cedar Launches With $13M for Data-Driven Patient Payment Solution
Revenue cycle management-focused startup Cedar has announced its entry into the health IT market with a new data-driven patient payment solution. Supported by $13M in Series A funding, the Cedar platform, which powers solutions for hospitals, health systems and medical groups, delivers modern intelligence to alleviate collections challenges, improve billing operations and ensure a personalized billing experience for patients.A Data-Driven Payment Solution for Hospitals and Medical GroupsToday,
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