What You Should Know:
- U.S. hospitals and health systems continued to experience positive financial performance in April, with patient demand and revenues rising for the 12th consecutive month, according to new data from Strata Decision Technology.
- While hospitals and health systems experienced positive financial performance in April, rising expenses remain a concern. Continued monitoring of these trends will be crucial for understanding the overall health of the healthcare
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Patient Financial Services (PFS)
R1 Acquires Patient Financial Engagement Platform VisitPay for $300M
What You Should Know:
- Today R1 announced they will acquire patient financial engagement company VisitPay for $300 million in cash, leading the charge in overhauling the patient experience in the area with the most pain points - from surprise billing to price transparency. The acquisition marks R1’s third acquisition in the last year, transitioning the organization from a revenue cycle management services leader to a leading technology company.
- VisitPay’s cloud-based platform is used by
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Report: Modern Revenue Integrity Solutions Driving Payment Performance
What You Should Know:
- New Chilmark Research report on revenue integrity
in healthcare reveals a transitional market making strides to address the new
burdens of modern care economics.
- The ongoing COVID-19 public health emergency underscores
the imperative need for automation and reduced administrative costs even
clearer.
Revenue cycle
has and continues to be one of the most difficult challenges in healthcare.
These issues manifest in the claims process of submission,
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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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Cedar Raises $36M for Modern Patient Financial Management Platform
Cedar, the patient financial management platform for hospitals, health systems and independent medical groups, today announced a Series B fundraising round of $36 million, led by the global investment company Kinnevik. Participants in the round include existing investors Founders Fund and Thrive Capital, as well as Lakestar, Sound Ventures, Kevin Systrom of Instagram and Nat Turner of Flatiron Health. Cedar plans to use the funding to further invest in the next generation of its innovative
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