What You Should Know: - Olive, the automation company creating the Internet of Healthcare, today launched its Autonomous Revenue Cycle (ARC), the company's flagship Revenue Cycle Management (RCM) suite of solutions. - Olive's ARC is designed to handle tedious, time-consuming administrative tasks in the revenue cycle, allowing healthcare organizations to get paid quicker while reducing the risk of uncompensated care. Automate the Revenue Cycle Management Process Managing revenue
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Analysis: Is Oracle Cerner Planning to Build A National EHR?
Earlier this month Oracle closed its $28.3B acquisition of Cerner and shortly after Oracle founder and CTO, Larry Ellison, outlined Oracle’s vision for Healthcare IT post-acquisition. The key elements of this vision included: - Developing a solution for a national EHR database. - Leveraging this solution, and similar smaller-scale connected EHR initiatives, to provide life science, pharma and other users with a rich environment for research, clinical trials and drug
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ScionHealth Signs 10-Year End-to-End RCM Partnership with R1 RCM
What You Should Know: - Today, R1 RCM, a leading provider of technology-driven revenue cycle management (RCM) solutions, is announcing a 10-year end-to-end partnership with ScionHealth, a new Louisville-based health system comprising nearly 80 hospitals, to provide exclusive enterprise RCM services to its long-term acute care hospitals. - ScionHealth joins healthcare systems including Ascension, Intermountain Healthcare, LifePoint Health, Penn State Health and more that have chosen R1 to
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Is Empathy The Key to Healthcare Collections in 2022?
As we enter into the third year of the global health emergency, the impact on healthcare continues to evolve. With the ever-changing landscape, comes an opportunity to reflect, learn, and adapt to the times. Throughout the pandemic, COVID-19’s impact on hospital entities has not been specific to clinical care – it has rippled through the institution to every level, including revenue cycle management (RCM). While RCM and collections once had a negative connotation, the pandemic has presented
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Revenue Cycle Management Company nThrive Rebrands as FinThrive
What You Should Know: - Healthcare revenue cycle management platform provider nThrive today announced it has rebranded, FinThrive™, which will be formally launched through a pending rebrand. The new name signals the Company’s intention to break the cycle of inefficiency associated with traditional RCM technologies, while designing a modern software approach that empowers stakeholders across healthcare’s financial ecosystem. FinThrive Focus As FinThrive, the company will
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OpenLoop Raises $8M to Expand Full Stack, White Label Telehealth Services
What You Should Know: OpenLoop, a health tech startup delivering full-stack clinical support to companies launching and scaling virtual care services across the nation raises a Series A funding round of $8M led by SpringTide Ventures. - OpenLoop, known for the quality, flexibility and breadth of services they offer to clients who are often early in their telehealth delivery journeys, will use this fresh capital to continue to expand their technology-enabled infrastructure. They will be
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RCM: The Art of Compassionate Billing—and Why You Should Put Patients First
A woman is charged $22,000 for stitches and scar repair after being bitten by a dog. A man gets hit with a $30,000 bill for ACL reconstruction surgery. People around the country receive Covid-19 test bills ranging from a few dollars to more than $1,000—and to make things worse, they aren’t supposed to receive a bill, anyway. Surprise billing in healthcare is a nightmare, and it happens all the time. It takes a severe emotional toll, as well as a monetary one. Nearly 30 million Americans
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Streamline Health Acquires RCM Consulting Firm Avelead for $20M
What You Should Know: - Streamline Health Solutions, Inc., a provider of the eValuator Revenue Integrity Program to help healthcare providers proactively address revenue leakage and compliance exposure, announced the acquisition of Avelead Consulting, LLC (“Avelead”), a provider of solutions and services to improve revenue integrity for healthcare providers. - Financial terms of the acquisition include closing cash and stock consideration valued at $20M, subject to
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VisiQuate Lands $50M to Expand AI-Powered RCM Automation Solution
What You Should Know: - VisiQuate, Inc., a Santa Rosa, CA-based provider of advanced analytics and AI-powered automation today announced a new $50 million equity investment from Sixth Street Growth. - Founded in 2009, VisiQuate, Inc.’s user-friendly data management and analytics solutions let virtually anyone in a healthcare organization explore complex data from multiple sources to quickly gain insights and create actionable workflows. - VisiQuate’s artificial intelligence
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RCM: How Coding Gray Areas Skew Healthcare Data
Clinical reality, the ICD-10-CM classification system, and considerations of reimbursement are three distinct worlds that are sometimes in conflict. We don’t like it when financial considerations intrude on the purity of coding, but there’s no escaping this intrusion when coding serves as both the representation of the clinical picture in healthcare data and as the basis for reimbursement. Sepsis Definitions at Odds Sepsis provides a great illustration of a coding gray area that can
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