Since the beginning of the COVID-19 pandemic, key elements of hospital operations such as managing inpatient bed capacity, and access to ventilators and PPE have taken center stage. The general public got a crash course on what hospitals need in order to function successfully when disaster hits, and daily news and discussions were centered around ICU bed capacity as cases accelerated across the country.
The nightmarish predictions and reality led to the development of creative measures to
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Patient Access in Healthcare | Revenue Cycle Management
5 Steps for Interoperability Excellence for Healthcare Providers
As if 2020 couldn’t be any more challenging for healthcare providers, new federal rules on interoperability and patient access, granting patients direct access to their healthcare data, begin taking effect in 2021 and will continue into 2022. These rules, while ultimately beneficial to patients, bring an additional level of operational complexity to many revenue-stressed healthcare organizations.
If anything, the 2020 pandemic has illustrated the vast potential of interoperability. For
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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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M&A: CarepathRx Acquires Pharmacy Operations of Chartwell from UPMC for $400M
What You Should Know:
- CarepathRx will
acquire the University of Pittsburgh Medical Center’s pharmacy operations in a
$400M deal.
- The company fully
integrates pharmacy operations, expands healthcare services, improves
ambulatory access, minimizes clinical variation and creates new health system
revenue streams.
- CarepathRx serves more than 15 health systems and 600
hospitals, with more than 1,500 employees nationwide, 400 payor contracts.
Already CarepathRx has treated more than
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COVID-19: How Can Payers Prepare for Mandates and Support Pandemic Relief Efforts
Healthcare can achieve optimum efficiency when patients are at the center of care. When patients have the necessary information to navigate their care journey, they will choose the path to high-quality care at the lowest costs. Cost-sharing and insurance premiums are rising consistently since the last decade for employer plans, which covers nearly half of the country’s population. Plan members are shouldering a part of the healthcare cost burden, so they want to keep it as low as possible. At
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Nuance Sells Off Transcription and EHR-Go-Live Businesses to DeliverHealth
What You Should Know:
- Nuance announced that it’s planning to sell two sections of its healthcare business – Health Information Management (HIM) and Electronic Health Record (EHR) Go-Live Services to a new independent company, called DeliverHealth, in early 2021.
- Nuance will be a minority shareholder of DeliverHealth
and continue to provide its technology to the company.
Nuance
Communications, Inc., today announced the planned sale
of the Health Information Management (HIM)
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4 Ways to Combat Hidden Costs Associated with Delayed Patient Care During COVID-19
COVID-19 terms such as quarantine, flatten the curve, social distance, and personal protective equipment (PPE) have dominated headlines in recent months, but what hasn’t been discussed in length are the hidden costs of COVID-19 as it relates to patient adherence.
The coronavirus pandemic has amplified this long-standing issue in healthcare as patients are delaying routine preventative and ongoing care for ailments such as mental health and chronic disease. Emergency care is also
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Innovaccer Launches Member Engagement Solution to Scale-Up Digital Transformation Efforts with Payers
What You Should Know:
- Innovaccer
launches member engagement solution for healthcare payers to drive improvement
in healthcare cost and quality boosts member satisfaction and enhances member
enrollment and retention.
- Innovaccer's solution create member-oriented care
plans, enhance connectivity with care managers, and drive interventions for
social determinants of health risks through the solution.
Innovaccer, Inc., a
leading healthcare
technology company, has launched its
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Humana Taps Cohere Health to Modernize Prior Authorizations for Musculoskeletal Treatment
What You Should Know:
- Cohere Health partners with health insurer Humana to modernize
the prior authorization process for musculoskeletal treatment across 12 states.
- In addition, the company has closed an additional $10M
in funding led by Flare Capital Partners and Define Venture, bringing the
company’s total funding to $20M.
Health insurer Humana has signed an agreement with healthcare collaboration company Cohere Health to improve the prior authorization process for
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Baptist Health Implements First-of-its-Kind ED to PCP Referral Automation
What You Should Know:
- Baptist Health deploys first-of-its-kind conversational
digital assistant powered by LifeLink for patients who are discharged from the
Emergency Department (ED) with referrals.
- Since launch, the conversational chatbot solution, which
engages patients with mobile messaging to recommend follow-up care, the number
of PCP appointment requests have increased by 15%. The technology is integrated
into Cerner and Salesforce, personalizing the patient experience by
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