Health systems across the country will require a plan to react to government deep spending cuts and revenue shortfalls due to the COVID-19 pandemic. Hospital services have seen a significant downturn in demand in 2020, and the recent resurgence in cases has led to further decreases. The public health emergency has also resulted in innovation, most notably telehealth, which has been granted temporary pay parity during the pandemic. Still, hospitals and health systems face a year of losses, but
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Payers| Payer Industry Impact for Patients, Clinicians, and Healthcare Organizations | News, Analysis, Insights - HIT Consultant
Healthcare Can Save $16.3B Automating Administrative Transactions, Report Finds
What You Should Know: - Each year, the US healthcare industry spends $39 billion on 9 administrative transactions, according to a new report from CAQH. - The 2020 CAQH Index also uncovered that by automating these transactions, the industry could save $16.3 billion annually--a 42% cost reduction. CAQH, released the eighth annual report measuring the progress made by healthcare payers and providers in automating administrative transactions. The 2020 CAQH Index found that, of
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A Patient Engagement Strategy Needs to Deliver a Holistic Experience
Researchers from Johns Hopkins published a study in October on the impact of the pandemic on health care delivery. Among its findings, the data show a 21.4% decrease in primary care visits in Q2 of 2020, compared against the average volume of Q2 visits for the previous two years. By contrast, there was a sharp increase in telehealth engagements, accounting for 35.3% of all provider visits in Q2 this year, compared with 4.1% in Q1 and 1.1% in 2018-2019. Despite the shifts in healthcare
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Healthcare Metadata Management: 3 Critical Capabilities to Creating A Unified, Automated Approach
The healthcare industry, like many others, has become a data driven industry collecting data from patients, doctors, labs, and payers that are all crucial to patient healthcare diagnosis and outcome. When it comes to research, data can be useful in creating emerging healthcare technological innovations, pharmaceutical discoveries, as well as other advances in the market but it also is accompanied by strong regulatory compliance, like stringent HIPAA laws, that dictate that this data is kept
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Sharecare Acquires AI-Enabled Digital Transformation Platform doc.ai
What You Should Know: - Sharecare acquires doc.ai to expand its engineering expertise, accelerate digital transformation of healthcare through innovative AI platform for an undisclosed sum. - Founded in 2016, the company licenses AI modules and creates products for a portfolio of clients, including payers, pharma and providers. - As part of the acquisition, Anthem will now become a strategic partner with Sharecare. Sharecare, the digital health company that helps people manage all
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MetroHealth System, CareSimple Launch Remote Patient Monitoring Program
What You Should Know: - CareSimple and MetroHealth System announced that they have entered into a strategic remote patient monitoring integration partnership. - Under the terms of
the agreement, CareSimple will empower the Cleveland, Ohio public health system
with simple, patient-friendly RPM solutions to improve health outcomes for
their high-risk senior and chronically ill populations. The MetroHealth System, a nationally recognized public health care system located in
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Aledade Secures $100M for Value-Based Primary Care, Reaching $2.1B Valuation
What You Should Know: - Aledade raises $100 Million in Series D funding to help
more primary care practices thrive in value-based care. - The new funding will power the growth of a nationwide network of more than one million patients by further expanding into Medicare Advantage Contracts. Aledade,
a Bethesda, MD-based provider of value-based primary care, today announced it
has closed a $100 million Series D funding round following a year of
significant growth for its national
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3 Steps to Maintain Telehealth’s Momentum Post-Pandemic
In the face of COVID-19, healthcare witnessed how crises can become the long-awaited push for creativity and innovation that the industry needs. When our healthcare infrastructure’s weaknesses were exposed, telehealth helped to stitch them up, with the number of telehealth claims increasing 8,336% nationally from April 2019 to April 2020. Out of need, patients quickly turned to telehealth as a new model of care delivery; clinicians adapted to a new avenue for engaging with patients, policymakers
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Healthcare PE Firm Heritage Group Launches $300M Health Tech Fund
What You Should Know: - Healthcare private equity firm Heritage Group launches a $300M fund to invest in high-growth healthcare services and technology companies. - Heritage is backed by some of the leading healthcare organizations in the nation, including large provider systems, payers, and healthcare service providers. Heritage Group, a Nashville, TN-based healthcare-focused private equity firm, today announced the closing of over $300 million in its oversubscribed third fund, an
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NeuroFlow Secures $20M for Tech-Enabled Behavioral Health Integration Platform
What You Should Know: - NeuroFlow raises $20M to expand its technology-enabled behavioral
health integration platform, led by Magellan Health. - NeuroFlow’s suite of HIPAA-compliant, cloud-based tools
simplify remote patient monitoring, enable risk stratification, and facilitate
collaborative care. With NeuroFlow, health care organizations can finally
bridge the gap between mental and physical health in order to improve outcomes
and reduce the cost of care. NeuroFlow, a
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