What You Should Know:
- Twilio, a customer engagement platform, and Cedar, a patient financial experience platform, today announced a strategic partnership to revolutionize how patients interact with their healthcare bills.
- The collaboration leverages Twilio's communication tools and AI capabilities to enhance patient engagement, streamline billing processes, and reduce costs for healthcare providers.
Transform the Patient Financial Experience with AI-Powered
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Patient Financial Experience | News, Analysis, Insights
The Connection Between Patient Satisfaction and Healthcare Finance
Understanding patient satisfaction scores is not just about numbers. It's about gaining insights that can significantly impact the revenue cycle. From reimbursement rates to patient retention to physician referrals, what we learn about the patient experience is a powerful tool in our hands.
Navigating this landscape can be challenging for healthcare providers. Many organizations lack a standardized method for measuring patient satisfaction across departments. This leaves the door open for
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Talkiatry & Cedar Partner to Tackle Mental Health Payment Woes
What You Should Know:
- Talkiatry, a provider of in-network psychiatric care, has partnered with Cedar, a healthcare financial engagement platform, to optimize the billing experience for their patients.
- The strategic partnership prioritizes not only mental health treatment itself, but also the financial barriers that often prevent individuals from seeking or continuing care.
Mental Health Crisis Demands Solutions
The United States faces a significant mental health crisis, with one
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Expectation vs. Reality: Improving the Patient Payment Experience
If you’ve ever worked behind the scenes at a provider organization, you likely gained a deep understanding of what makes medical practices tick, giving you the ability to make fairly accurate assumptions about how patients will probably behave in different scenarios. However, when it comes to the patient payment experience, inevitably some patients respond differently than expected.
Seasoned healthcare workers have likely experienced a number of common misconceptions about patients’
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Consumers Cite Healthcare Affordability as Biggest Concern to Paying Medical Bills
What You Should Know:
Rising healthcare expenses, lack of certainty over costs and financial support and poor coordination between providers and payers have caused consumers to feel more stressed than ever before about their healthcare bills. According to the 2024 Healthcare Financial Experience Study, 72% of consumers cite affordability as the biggest challenge to paying larger healthcare bills—not that they don’t want to. Struggling to afford healthcare bills isn’t just a headache, it can
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Financial Experience: Empowering Patients to Improve Affordability
It’s no secret that healthcare costs have continued to rise over the years. In fact, a staggering four in 10 Americans have skipped medical care due to financial concerns. The rise of high-deductible health plans means more financial responsibility has fallen directly on patients, as out-of-pocket costs have skyrocketed by 111% since 2010 and are projected to increase by 10% each year through 2026.
But there’s good news. According to our own research and data, there is roughly $58
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RCM: Cedar, Google Cloud Partner to Gen AI Tools to Improve Healthcare Billing for Patients
What You Should Know:
Cedar, an enterprise financial engagement platform that improves the end-to-end journey for consumers announced a strategic collaboration with Google Cloud.
As part of the collaboration, Cedar will be using Google Cloud’s generative AI tools, including Vertex AI, Generative AI App Builder and others to build solutions that will assist patients in understanding and resolving their healthcare bills.
Generative AI Tools to Improve Patient Financial
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With A Recession Looming, Here’s How Practices Can Ensure Minimal Revenue Loss
Healthcare systems driven by insurers fronting most of their members’ healthcare bills have allowed hospitals to be relatively immune to economic downturns in the past. However, this dynamic began to shift as consumer-directed health plans hit the mainstream. Exaggerated by the rise of the current consumer mentality, even more, patients will be vulnerable to healthcare financial responsibility due to the prevalence of high deductible plans (HDHPs) as consumers embark on the looming bust.
To
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Epic, Impact Advisors, Nordic, Chartis Named 2023 Overall Best in KLAS® Awards
What You Should Know:
Epic, Nordic, Impact Advisors and The Chartis Group won the 2023 Overall Best in KLAS® awards. Epic was named the top Overall Software Suite for the thirteenth straight year in 2023 Best in KLAS – Software & Services report, released, which reports on the top vendors for 2022. Epic was also named the top Overall Physician Practice Vendor. Epic won thirteen other Best in KLAS awards in various market segments.
- Impact Advisors tied with Nordic to be a
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Patient Financial Experience: 40% of Americans Confused by Medical Bills
What You Should Know:
- AKASA™, a developer of AI for healthcare operations, released findings from a new survey conducted on its behalf by YouGov.
- The survey findings highlight uncertainty looms among patients about what is included in a bill and if they can pay - two factors that drive the most confusion on medical bills. However, there are strategies healthcare organizations can take to be proactive and prevent billing surprises from trickling down to patients.
Understanding
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