A quick, efficient, and well-managed revenue cycle creates a solid foundation for a profitable medical organization. That’s why if you’re responsible for ensuring the health of your organization's revenue cycle and you are not using AI for medical coding, you are not doing your job.
Let me explain.
Some RCM professionals may see medical coding as a small portion of the revenue cycle; however, its reach is wide. The quality and accuracy of medical coding can either negatively or
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Why Data Transparency Is the Most Important Metric for Healthcare Providers Right Now
Healthcare providers all over the world are battling with how to take patient information and patient care digital. How can we use the tools and technology at our fingertips to make treating patients easier and more effective, rather than more complicated? Converting data into useful information will be the key to making this transition successful.
Data is the currency, language, form, and function of digital transformation in healthcare. Having an easily accessible data warehouse and
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Fathom Secures $46M for AI Medical Coding Automation Platform
What You Should Know:
- Fathom, an AI-powered medical coding automation platform raises $46M in Series B funding co-led by Alkeon Capital and Lightspeed Venture Partners with participation from Vituity’s Inflect Health, Cedars-Sinai, ApolloMD, Jonathan Bush, and other healthcare executives.
- The company plans to use the funding to advance the standard in automated medical coding in response to critical challenges facing providers. The Series B round brings Fathom’s total funding to
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Debunking 3 Common Myths About Healthcare Revenue Cycle Partnerships
The healthcare industry is facing unprecedented challenges, including severe labor shortages. According to a recent study, more than nine in 10 health systems and physician groups are experiencing a workforce shortage in revenue cycle management (RCM), with many of those reporting vacancies in over half of their RCM roles. This is one of the many reasons why there has never been a better time for health systems to think outside the box for solutions, including an RCM partnership. Often, when
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KLAS-Bain: Post-Pandemic Investment Priorities for Healthcare Providers
What You Should Know:
- Competition in the provider IT space shows no signs of abating: Early-stage capital, big tech, and scale EMR players continue crowding into more segments. This has significant implications for providers as they transition into a new disruptive period, for software players as they fine-tune go-to-market models for the current environment, and for private equity investors as they look to invest behind winning themes.
- A new report by KLAS Research and Bain &
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Quality vs. Quantity: The Case for Clinician-Centric Technology
Care providers continue to face mounting pressures – from increasing staffing shortages to balancing patient needs across in-person and virtual settings and managing pent-up patient demand. Rather than navigating through fragmented digital solutions that feed care providers disparate data, more and more clinicians now rely on connected technology to access the care context, i.e. the right patient data translated into reliable actionable insights at the right point in their workflow.
To truly
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Knowtion Health Acquires Rev Cycle A/R Platform Amplus
What You Should Know:
- Knowtion Health, formerly RSource Healthcare announced today it has acquired Amplus Group, a healthcare revenue cycle A/R resolution and technology service. Financial terms of the deal were not disclosed.
- For the past five years Amplus has utilized the latest in machine learning and automation to support accounts receivable (A/R) for health system revenue cycles.
- The acquisition will accelerate Knowtion's plan to expand low balance recovery technologies
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AGS Health Launches AI-Powered Revenue Cycle Platform
What You Should Know:
- AGS Health, a revenue cycle management (RCM) solutions provider and strategic growth partner to some of the largest healthcare systems in the U.S., announces the launch of the AGS AI Platform, a connected solution that blends artificial intelligence (AI) and automation with award-winning human-in-the-loop services and expert support to maximize revenue cycle performance.
- The platform allows healthcare organizations to gain enhanced visibility into day-to-day
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Capital One Leads $2.3B Financing for R1 RCM
What You Should Know:
- Capital One Commercial Bank just announced it served as a joint lead arranger for an amended and restated credit facility for R1 RCM, a leading provider of technology-driven revenue cycle management (RCM) solutions for the healthcare industry.
- This $2.3 billion financing will help RI RCM tackle the industry’s labor and reimbursement challenges and help healthcare provider organizations reduce costs, increase revenue, and improve the patient
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A Hybrid, Technology-Driven Approach to Overcome Coding and RCM Staff Shortages
Exacerbated by pandemic-induced burnout, resignations, and even terminations1, chronic coding and revenue cycle management (RCM) staffing shortages have healthcare organizations struggling to find ways to keep revenue flowing despite a lack of qualified professionals to handle critical processes. It is a situation that has been brewing for years, as too few qualified professionals are entering professions that are expanding more rapidly than ever before.
According to the American Hospital
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