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Patient Financial Experience | News, Analysis, Insights

Epic, Impact Advisors, Nordic, Chartis Named 2023 Overall Best in KLAS® Awards

by Fred Pennic 02/09/2023 Leave a Comment

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

by Syed Hamza Sohail 12/16/2022 Leave a Comment

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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How Fines Push Hospitals To Go Beyond CMS Price Transparency Rules

by Paul Shorrosh is the CEO and founder of AccuReg 11/28/2022 Leave a Comment

Fines Push Hospitals To Go Beyond CMS Price Transparency Rules

The gamble is over for hospitals that avoided complying with CMS price transparency mandates.  After a slow start since they were implemented more than 18 months ago, CMS has issued 350 warnings for noncompliance, 157 corrective action requests, and finally issued fines to two Georgia hospitals in June. It seems many more will be on the way.  The fines are significant. The first two hospitals faced fines of roughly $880,000 and $214,000. Noncompliant hospitals with 550 beds or
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Healthcare Payments: 3 Ways to Make the Experience Better for Patients and Providers Alike

by Susan Perlmutter, Chief Revenue Officer, REPAY 10/25/2022 Leave a Comment

Healthcare Payments: 3 Ways to Make the Experience Better for Patients and Providers Alike

The past few years have seen an enormous acceleration in the adoption of technologies that streamline and modernize payments across all industries. As embedded finance becomes more popular and companies begin to embrace automation technologies, there’s a clear opportunity for healthcare providers to embrace digital payments. Through the use of digital payment technology, healthcare professionals can make their services easier for their vendors, suppliers and patients. Simplifying the Patient
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Modernizing Medical Payments: Why Providers Must Enrich the Patient Financial Experience

by Fred Pennic 08/17/2022 Leave a Comment

Modernizing Medical Payments: Why Providers Must Enrich the Patient Financial Experience

Medical billing issues cause many consumers to shop for different providers. Customers expect a simple, automated billing experience. Insider Intelligence’s recent Spotlight on Modernizing Medical Payments looks at what drives consumers away from their medical providers, and what providers can do to modernize their billing processes. Incorrect or Confusing Bill Cause Patients to Leave Their Doctors According to a December 2021 report on Patient Payment Technology, 64% of respondents
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Survey Reveals 44% of Consumers Avoided Healthcare Due to Cost

by Jasmine Pennic 05/27/2022 Leave a Comment

Survey Reveals 44% of Consumers Avoided Healthcare Due to Cost

What You Should Know: New price transparency government mandates are on the horizon, but how much does cost really impact consumers? HealthSparq  published its Annual Consumer Sentiment Benchmark report, which found that 44% of respondents have avoided getting healthcare services because they were unsure of the costs (compared to 25% last year). The survey of 1,000+ healthcare consumers unveils their opinions on price transparency in
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Nearly 60% of Hospitals and Health Systems Have More Than 100 Job Vacancies

by Surveys, Research Reports 05/19/2022 Leave a Comment

Nearly 60% of Hospitals and Health Systems Have More Than 100 Job Vacancies

What You Should Know: - More than 57 percent of health systems and hospitals have more than 100 open roles to fill across their operations, according to new AKASA survey where more than 400 healthcare finance leaders identified vacancies across their healthcare organizations and the revenue cycle. - The findings reveal how insufficient staffing is hampering daily operations and pushing a strained workforce to the limit. Combating Vacancies with AI-Powered Automation Additionally, one
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Cerner & AKASA Partner on AI-Powered Revenue Cycle Automation

by Fred Pennic 05/05/2022 Leave a Comment

AKASA Raises $60M to Automate Revenue Cycle Operations for Health Systems

What You Should Know: - Health IT leader Cerner and AI developer for healthcare operations AKASA announce a partnership to scale automation within the revenue cycle at hospitals and health systems using AI and machine learning. - The collaboration offers Cerner customers access to AKASA’s AI-based Unified Automation® platform which is purpose-built for healthcare. Growing Need for Revenue Cycle Automation Staff shortages are particularly concerning for healthcare revenue cycle
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RevSpring Expands Integrations with Cerner

by Jasmine Pennic 03/16/2022 Leave a Comment

What You Should Know: - RevSpring expands patient engagement and payment solution integrations with Cerner, broadening RevSpring’s platform of omnichannel and payment solutions to boost payment performance and patient satisfaction. - Now more than 1,500 Cerner customers can access several of RevSpring’s solutions without friction – including customers such as Ohio-based Fisher-Titus, a leading rural hospital, that signed an agreement to implement two RevSpring products to coordinate all
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Cedar Launches Cedar Pre to Transform Patient Financial Experience

by Fred Pennic 03/07/2022 Leave a Comment

Cedar Launches Cedar Pre to Transform Patient Financial Experience

What You Should Know: - Cedar launches Cedar Pre to deliver seamless and comprehensive healthcare experiences to consumers preparing for care. - By leveraging Cedar’s expanded patient engagement suite, providers can empower patients with unprecedented access and affordability from pre-registration and intake through final payment.  Cedar, a New York City-based healthcare financial technology platform built for today’s consumers, today announced the launch of Cedar Pre, an
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