What You Should Know:
- Availity today announced a definitive agreement to acquire the utilization management solution and business unit from healthcare automation company Olive AI, Inc. Financial details of the acquisition were not disclosed.
- The acquisition of Olive AI's utilization management solution offers numerous benefits for Availity’s national network of payers and providers. These include lower administrative and medical costs, improved patient access
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Olive AI
Olive Launches Autonomous Revenue Cycle (ARC) Suite
What You Should Know:
- Olive, the automation company creating the Internet of Healthcare, today launched its Autonomous Revenue Cycle (ARC), the company's flagship Revenue Cycle Management (RCM) suite of solutions.
- Olive's ARC is designed to handle tedious, time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid quicker while reducing the risk of uncompensated care.
Automate the Revenue Cycle Management Process
Managing revenue
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Olive, ClosedLoop Integrate to Bring Predictive Analytics to Hospitals
What You Should Know:
- Today, healthcare automation company Olive announced their partnership with ClosedLoop, a healthcare-specific data science platform that allows hospitals to implement artificial intelligence (AI) technology. As part of the partnership, Olive will be able to leverage ClosedLoop’s technology within Olive Helps to help deliver better patient outcomes, such as reducing unplanned hospitalizations, readmission rates and hospital-acquired infections.
- This partnership
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HLTH21: Olive Launches Universal Marketplace for Digital Healthcare Solutions
What You Should Know:
- Today at HLTH, $4B healthcare automation company Olive announced the launch of The Library, a healthcare solution marketplace that will reduce the burden for early-stage developers as they bring innovative new technology solutions to patients.
- This new marketplace enables Olive’s partners — ranging from individual developers to large enterprise brands — to open a distribution channel and market to Olive’s customer base, which currently includes more than 950
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Healthcare Automation Most Urgent Need to Improve Patient Care, Report Finds
What You Should Know:
Half of the healthcare administrative staff report seeing an increase in the amount of manual data entry in the past 12 months — and 92% of clinicians agree that too much time spent on administrative tasks is a major contributor to healthcare worker burnout. This and other findings are revealed in the new Internet of Healthcare Report, produced by independent research firm Wakefield Research on behalf of Olive. The report uncovers how 1,700 patients, healthcare
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Olive Launches In-House Venture Studio for Digital Health Startups
Olive Launches In-House Venture Studio for Digital Health Startups
What You Should Know:
- Olive, the $4B healthcare automation company, today announced Olive Ventures, a new in-house venture studio that works hand-in-hand with early-stage entrepreneurs to create digital health companies through Olive’s platform.
- Olive Ventures offers visionaries a secure, compliant tech environment (i.e. Olive’s tech stack) that’s designed to rapidly validate, deploy, distribute and
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Olive Enters Clearinghouse Market with Acquisition of Healthcare IP
What You Should Know:
- Olive, a healthcare automation company today announced the acquisition of Healthcare IP, an integrated partner of healthcare provider and payer organizations, advocating data transparency and user experience in the revenue cycle. Financial details of the acquisition were not disclosed.
- Healthcare IP is a clearinghouse that has been streamlining payment management since 2013 for top hospitals and health systems across the United States to help manage their
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Olive Secures $400M At A $4B Valuation to Support New Instant Claim Payment Solution
What You Should Know:
- Today, healthcare automation company Olive, today announced a $400M in funding round led by Vista Equity Partners with additional investment from the Base10 Partners Advancement Initiative. Olive, a provider of AI powered workforce purpose-built for healthcare, has now secured $832 million in financing since March 2020, and $902 million since the company’s inception in 2012 bringing the company’s total valuation to $4 billion.
- The company plans to use
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TriHealth Taps Olive to Deploy On-Site AI Command Center Across Enterprise
What We Should Know:
- Olive and TriHealth announced their partnership to deploy Olive’s on-site AI command center, the AlphaSite, across TriHealth’s enterprise. The AI investment will begin with automating revenue-cycle related tasks, such as claims status checks while delivering increased ROI to the TriHealth network.
- The AlphaSite program — the creation of an on-site AI command center — allows Olive to take a 360-degree approach to transform the entire
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M&A: Olive Acquires AI Prior Authorization Company Verata Health
What You Should Know:
- On the heels of $225.5 million dollars in funding and a
$1.5B valuation this week, Olive today announced its acquisition of Verata
Health to create a combined AI prior authorization solution for providers and
payers under the Olive name.
- Prior authorization is a $31 billion dollar issue in
healthcare, and one of the top reasons patient care is delayed. Olive is now
able to reduce write-offs by over 40% and cut turnaround times for prior
authorizations by up to
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