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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Patient Financial Experience | News, Analysis, Insights
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
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
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
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
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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What Are Digital Wallets and What Do They Mean for Healthcare?
Digital wallets are a payment option that continues to gain traction among consumers due to their simplicity and ease. Many providers, however, may be unfamiliar with the technology and how it can benefit their practices and patients.
At the most basic level, a digital wallet is a digital, mobile version of patients’ financial accounts that is easily accessible via a computer or smartphone, eliminating much of the need to carry an actual wallet. Digital wallets can be used by consumers
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AccessOne Acquires CueSquared to Address Patient Financial Experience
What You Should Know:
- AccessOne acquires one-touch mobile payment platform CueSquared. The acquisition adds mobile billing and payment product to existing patient financing offerings, extending AccessOne solution portfolio to address the overall patient financial experience.
AccessOne, a leading provider of inclusive Care Now, Pay Later patient financing solutions that help all consumers manage their healthcare costs, today announced that it has acquired CueSquared, a
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Medical Bills Continue to Plague Consumers as Source of Anxiety, Mystery and Frustration
What You Should Know:
- More than half (55%) of consumers find it stressful paying a medical bill, understanding their plan's coverage and benefits (53%) or comprehending what they owe (53%), according to results of Cedar’s Annual Healthcare Consumer Experience Study.
- 4 in 10 (41%) are unsatisfied with their billing experiences, and nearly 90% of consumers would find it at least "somewhat useful" if their healthcare provider posted pricing information on their website around expected
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Northwell Selects Cedar to Deliver Personalized Financial Experience
What You Should Know:
- Northwell Health, the largest health system in New York State, and Cedar, a market-leading healthcare financial technology platform, today announced a collaborative relationship to improve the financial experience for 2 million patients across Northwell’s 23 hospitals and various facilities.
- Northwell will leverage Cedar Pay, Cedar’s post-visit patient engagement and payment platform, delivers a more streamlined patient
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