What You Should Know: - BJC HealthCare has signed an agreement with patient payment platform
Patientco to offer a seamless patient financial experience, helping patients navigate their medical expenses and pay their bills. - Patientco’s platform provides patients with a single
billing statement outlining their outstanding balance and will help BJC streamline its payment process by reducing the number
of bills associated
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Patient Financial Experience | News, Analysis, Insights
COVID-19: 4 Essential Patient Payment Strategy Components to Accelerate Cash Flow
In the past few months, the COVID-19 pandemic has shaken societies, economies, and human wellbeing to the core. While protecting public health and welfare are top priorities for hospitals, the harsh reality is that it takes cash to keep the doors open and serve patients effectively. Revenue is down significantly as a result of canceled elective surgeries, while the costs of medical supplies and in-demand personal protective equipment for workers have skyrocketed. Hospitals’ operating challenges
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Why COVID-19 Highlights Urgent Need to Humanize and Modernize The Patient Financial Experience
It’s no secret that COVID-19 and the
corresponding near-immediate economic catastrophe will be felt for
significantly longer than the few short months it took to wreak its initial
havoc. While losses hit businesses from “a to z” (...except maybe Amazon, ironically),
hospitals and health systems tasked with treating the victims of this pandemic
bear a particularly harsh dose of the financial fallout -- $72 billion in CARES
Act hospital grants barely serving as a band-aid to the financial
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Cedar Nabs $102M to Modernize Patient Financial Experience
What You Should Know: - Cedar raises $102M to fuel the next phase of Cedar’s vision of evolving from a patient financial engagement solution to a comprehensive healthcare consumer engagement platform. - Cedar combines healthcare, tech, and design to create a seamless financial experience for every patient. From pre-visit registration to post-visit billing, Cedar personalizes the care journey to take each patient to payment with ease. - The company also announced it has partnered with
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3 Ways to Build a Back-to-Basics Approach to Revenue Cycle Management
Sixty-nine percent of healthcare revenue cycle leaders say they will put more money toward technologies that boost revenue integrity, eliminate human error and unlock greater efficiency in the year ahead, an HFMA/Navigant analysis found. But for many organizations, the biggest untapped opportunity to improve performance comes down to a single word: data. For all the buzz at about the ways in which digital innovation and automation could transform revenue cycle management, healthcare
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TransUnion, VisitPay to Provide End-to-End Patient Payment Experience
- TransUnion and VisitPay announce a partnership that aims to improve the patient experience while maximizing revenue for healthcare providers. - Together, TransUnion Healthcare and VisitPay will improve the patient's financial journey by providing an end-to-end patient payment experience, linking estimation with back-end billing and creating a data-driven feedback loop for providers. TransUnion announced a partnership with VisitPay, an online patient financial engagement, and revenue
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Waystar Launches AI/RPA Platform to Automate Revenue Cycle Processes
- Waystar Launches Hubble, an artificial intelligence and automation platform, Hubble that automates revenue cycle processes to help providers collect payment faster and more effectively. - The platform uses AI to help providers fix outdated and inefficient billing processes -- helping hospitals that are struggling financially, as well as helping patients avoid issues like surprise medical bills, by improving accuracy and price transparency. Waystar, a Chicago, IL-based provider of
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R1 Expands Revenue Cycle Management Offering to More Medical Groups
- R1 announced an expansion of its revenue cycle management services, making them available to large independent practices and hospital-owned groups.- Now groups beyond hospitals and health systems will be able to use R1’s industry-leading RCM tools designed to enable the best quality clinical care and financial expectation setting for even more patients.- This new slate of provider organizations and patients will also benefit from R1’s recent acquisition of SCI, offering access to the broadest
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ChristianaCare Partners with Cedar to Personalize Patient Financial Experience
- ChristianaCare partners with Cedar, a patient engagement and payment technology platform to modernize and personalize the patient financial experience for ChristianaCare patients.- Beginning this spring, the new payment experience will be implemented for most ChristianaCare services, including its primary and specialty care, imaging, labs, rehabilitation services and more.ChristianaCare today announced a new collaboration with Cedar, a patient engagement and payment technology platform that
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RUSH Taps R1 for End-to-End Revenue Cycle Management, Value-Based Care Innovation Lab
- R1 RCM and Rush University Medical Center (RUSH) announce a new end-to-end revenue cycle management partnership to achieve revenue cycle performance excellence and accelerate innovation in healthcare. - The two will also collaborate to launch an innovation lab that will focus on delivering value-based care, incorporating advanced analytics to help to educate other healthcare institutions and preparing the healthcare workforce of the future. Rush University System for Health (RUSH) has
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