For multiple years in a row, chief executive officers (CEOs) participating in the American College of Healthcare Executives’ annual survey ranked financial challenges as the number one issue facing hospitals. With sound revenue cycle management and, in turn, revenue integrity is essential to survival, the decision to buy, build or replace a revenue integrity solution is one of the most important a hospital can make.
Crucial differences separate revenue integrity solutions from one another.
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RCM Myth: Healthcare Billing Is Just A Back-Office Job
Marvin Luz, Sr. Director of Greenway Revenue Services at Greenway Health
Historically, there was a belief in healthcare that revenue cycle management (RCM) was only a job for the back office. But today, medical practices are well-aware all staff members are critical to the revenue cycle. This responsibility extends through every aspect of a practice, from the front office to back office with the clinical staff in between.
The front office, for example, plays a role in generating
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RCM: Boosting Practice Revenue Through Patient Financial Clearance
Matt Seefeld, Executive Vice President, MedEvolve
Medical practices have to balance many things. But one of the biggest balancing acts, which often gets overshadowed by patient care, involves keeping finances in the black, by ensuring revenue cycle management (RCM) flows smoothly. Whether practices are solo independent ventures or large, multi-specialty networks, the struggle is real.
When we discuss the most impactful ways to keep a practice’s bottom line in check — and keep the
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Revenue Cycle Startup Rivet Lands $8.25M to Expand Price Transparency Platform
What You Need to Know:
- Revenue cycle management startup Rivet raises $8.25M Series A funding to expand its healthcare price transparency platform.
- The price transparency platform enables providers to give patients upfront pricing with the ability to pay prior to care via text while at the same time helping providers navigate the complex process that grants “in-network” status with insurance companies.
Rivet, a Salt Lake City, UT-based modern healthcare revenue cycle management
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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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Analysis: January Health IT M&A Activity; Public Company Performance
– Healthcare Growth Partners’ (HGP) summary of Health IT/digital health mergers & acquisition (M&A) activity, and public company performance during the month of January 2020.
Ten years into the bull market, we operate in a heightened state of awareness for any indication of market weakness that may signal a downturn. While debt levels are rising and GDP growth somewhat sluggish, the world of private equity, public equity, and M&A continues to be in full swing bull
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XIFIN Introduces Transformative AI-Enabled Revenue Cycle Platform
- The latest version of XIFIN’s flagship RCM platform optimizes cash collections, enables real-time connectivity and error correction, and provides enhanced self-service for patients and physicians.- Unlike other RCM systems that require manual efforts once the claims are denied, XIFIN RPM 11 reduces costs and delivers denials and appeals process automation, including automatic generation of payor-specific appeal forms and appeal letters.Today’s diagnostic laboratory leaders face more challenges
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R1 Expands Physician Practice Footprint with District Medical Group
- R1 recently announced an expansion of their revenue cycle management services to the medical group market; it has announced that District Medical Group (DMG) is the first partner in this new offering.- R1 was selected to improve the financial performance, support significant growth and navigate complex payment models, allowing DMG to focus on providing top-quality care to patients while making their organization more nimble, transparent and profitable both in the short and long-term.R1 RCM
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KLAS Names Epic, Pivot Point, Accenture Overall Best in KLAS 2020
- Epic was named the top Overall Software Suite for the tenth consecutive year in the Best in KLAS 2020 Software & Services report. - Pivot Point Consulting, a Vaco Company, was named the top Overall IT Services Firm, edging out last year’s winner, Impact Advisors. - Accenture earned the award of top Overall Healthcare Management Consulting Firm.Today, KLAS Research announced released their annual Best in KLAS Software & Services that recognizes the leading vendors for solutions,
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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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