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net patient revenue

Survey Reveals Accelerating Use of AI to Overcome Workforce Challenges 

by Syed Hamza Sohail 03/24/2023 Leave a Comment

Survey by The Health Management Academy Reveals Accelerating Use of AI to Overcome Workforce Challenges

What You Should Know: - Given the severity of labor shortages and staffing constraints facing health systems nationwide, C-suite executives are turning to artificial intelligence (AI) to fill gaps and improve productivity, according to a recent survey conducted by The Health Management Academy (The Academy) with support from Outbound AI. - Almost half of executives (47.5%) report their health system is currently using AI solutions for the workforce, while all others
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Hospital Margins are Still in the Red Halfway Through 2022

by Fred Pennic 08/01/2022 Leave a Comment

Hospital Margins are Still in the Red Halfway Through 2022

What You Should Know: - U.S. hospitals, health systems, and physician practices continue to face historically high operating expenses that increased patient volumes and revenues could not counteract, leading to negative margins for the sixth straight month in 2022, according to data from Kaufman Hall’s National Hospital Flash Report and Physician Flash Report. - The median Kaufman Hall year-to-date operating margin index for hospitals was -0.09% through June, for a sixth
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Cedar Nabs $102M to Modernize Patient Financial Experience

by Fred Pennic 06/22/2020 Leave a Comment

Cedar Nabs $102M to Modernize Patient Financial Experience

What You Should Know: - Cedar raises $102M to fuel the next phase of Cedar’s vision of evolving from a patient financial engagement solution to a comprehensive healthcare consumer engagement platform. - Cedar combines healthcare, tech, and design to create a seamless financial experience for every patient. From pre-visit registration to post-visit billing, Cedar personalizes the care journey to take each patient to payment with ease. - The company also announced it has partnered with
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R1 Acquires Cerner RevWorks to Extend Revenue Cycle Capabilities

by Fred Pennic 06/03/2020 Leave a Comment

R1 Acquires Cerner RevWorks to Extend Revenue Cycle Capabilities

R1 RCM Inc., a provider of technology-enabled revenue cycle management services to healthcare providers, today announced that it will acquire Cerner RevWorks services business and commercial, non-federal client relationships. R1’s electronic health record-agnostic revenue cycle platform seamlessly complements a healthcare organization’s infrastructure, quickly driving transformative improvements to net patient revenue and cash flows while reducing operating costs. Integration
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Hospital Execs Believe Their EMRs Will Fail to Meet Their Future Needs, Report Finds

by Fred Pennic 03/09/2020 Leave a Comment

Hospital Execs Believe Their EMRs Will Fail to Meet Their Future Needs, Report Finds

What You Need to Know: - New Sage Growth Partners report reveals more than a quarter (27 percent) of respondents believe their EMR will fail to meet their future needs. COOs are the most pessimistic (67 percent) followed by CEOs (37 percent), and CFOs (34 percent). - Hospital Technology Forecast 2020 market survey report reveals hospital leaders’ top health IT investment priorities, challenges, and opportunities. - 35 percent of hospital executives say if they could go back in time,
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R1 Expands Revenue Cycle Management Offering to More Medical Groups

by Jasmine Pennic 01/22/2020 Leave a Comment

R1 RCM, End-to-End Revenue Cycle Management Services Phreesia Partner to Provide Seamless Front-End Patient Experience

- R1 announced an expansion of its revenue cycle management services, making them available to large independent practices and hospital-owned groups.- Now groups beyond hospitals and health systems will be able to use R1’s industry-leading RCM tools designed to enable the best quality clinical care and financial expectation setting for even more patients.- This new slate of provider organizations and patients will also benefit from R1’s recent acquisition of SCI, offering access to the broadest
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R1 RCM Acquires Patient Engagement Company SCI Solutions for $190M in Cash

by Fred Pennic 01/13/2020 Leave a Comment

R1 RCM Acquires Patient Engagement Company SCI Solutions for $190M in Cash

- R1 RCM announced the expansion of its tech platform capabilities through the acquisition of SCI Solutions, Inc (SCI). This acquisition enables healthcare providers to automate ordering, scheduling and authorization processes. - SCI’s capabilities integrated into R1’s revenue cycle solution will offer the broadest and deepest tech-enabled patient intake solution available. R1 RCM Inc, a provider of technology-enabled revenue cycle management (RCM) services to healthcare providers,
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RUSH Taps R1 for End-to-End Revenue Cycle Management, Value-Based Care Innovation Lab

by Fred Pennic 01/10/2020 Leave a Comment

Rush University Medical Center Taps R1 for End-to-End Revenue Cycle Management, Innovation Lab

- R1 RCM and Rush University Medical Center (RUSH) announce a new end-to-end revenue cycle management partnership to achieve revenue cycle performance excellence and accelerate innovation in healthcare. - The two will also collaborate to launch an innovation lab that will focus on delivering value-based care, incorporating advanced analytics to help to educate other healthcare institutions and preparing the healthcare workforce of the future.   Rush University System for Health (RUSH) has
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New Year, New Codes: Best Practices for Keeping Your Chargemaster Up-To-Date

by Tara Bradley, Chief Operating Officer, Vitalware 12/16/2019 Leave a Comment

Price Transparency: Why Hospitals Need to Focus On Understanding Their Data

While Q4 is busy for every industry, it is especially taxing for those in the healthcare space. In addition to the quarterly update of HCPCS codes, Q4 brings the release of next year’s Current Procedural Terminology (CPT) and HCPCS codes and also sees the release of the final rules for the prospective payment systems. On top of the work going on behind the scenes, the end of the year is a notoriously busy time for hospitals as patients make a mad dash to complete their final visits for the year.
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Tenet to Spin Off RCM Provider Conifer Health as Separate, Public Company

by Fred Pennic 07/24/2019 Leave a Comment

Tenet to Spin Off RCM Provider Conifer Health as Separate, Public Company

Tenet Healthcare Corporation has announced its intention to pursue a tax-free spin-off of its revenue cycle management business unit Conifer Health as a separate, independent publicly-traded company. The company expects to complete the spin-off by the end of the second quarter of 2021. This announcement is the culmination of the Conifer strategic review process announced in December 2017.Spin-Off ProcessThe separation process will include a thorough review of the necessary executive leadership
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