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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant

Zelis Unveils New In-Network Pricing Solution for Streamlined Claim Processing

by Jasmine Pennic 03/26/2024 Leave a Comment

Zelis Unveils New In-Network Pricing Solution for Streamlined Claim Processing

What You Should Know: Zelis, a leader in healthcare technology solutions, has announced its newest weapon in the fight against opaque claim pricing: In-Network Pricing and Contract Modeling. This comprehensive solution empowers health plans to understand and manage claim pricing proactively, leading to more accurate cost estimates and improved financial control. A Complete Claim Pricing Suite: Precision and Transparency In-Network Pricing and Contract Modeling joins Zelis' existing
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AKASA Unveils Gen AI Assistant, Cuts Prior Authorization Time by 50%

by Fred Pennic 03/14/2024 Leave a Comment

AKASA Unveils Gen AI Assistant, Cuts Prior Authorization Time by 50%

What You Should Know: - AKASA, a leader in generative AI (GenAI) solutions for the revenue cycle, today announced the launch of Authorization Advisor™. - Authorization Advisor tackles the time-consuming and error-prone process of prior authorization, a major pain point for healthcare providers. Prior Authorization Made Easy with AI Prior authorization, a process requiring approval from insurers before delivering certain services, is a significant burden for healthcare providers. It
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Feds Launches Investigation of Change Healthcare Cybersecurity Attack

by Fred Pennic 03/13/2024 Leave a Comment

HHS Launches Investigation of Change Healthcare Cybersecurity Attack

What You Should Know: - The Department of Health and Human Services' Office for Civil Rights (OCR) has announced an investigation into the recent cyberattack on Change Healthcare, a subsidiary of UnitedHealth Group (UHG). - The cybersecurity attack has significantly disrupted healthcare billing and information systems nationwide, potentially impacting patient care. Investigation Focuses on HIPAA Compliance The OCR enforces the Health Insurance Portability and Accountability Act
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Availity Processes More Than $5B in Claims Stuck with Change Healthcare

by Fred Pennic 03/13/2024 Leave a Comment

Availity Processes More Than $5B in Claims Stuck with Change Healthcare

What You Should Know: - The Change Healthcare cybersecurity breach continues to disrupt the healthcare industry three weeks after the initial incident. Hospitals, physicians, pharmacists, and health plans are struggling to maintain operations amidst logistical and financial challenges. Patients nationwide face uncertainty regarding their ability to receive necessary care. - Availity, the nation's largest real-time health information network, has emerged as a key resource in helping these
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HIMSS24: CodaMetrix Secures $40M for AI-Driven Medical Coding Solutions

by Fred Pennic 03/12/2024 Leave a Comment

CodaMetrix Secures $40M for AI-Driven Medical Coding Solutions

What You Should Know: - CodaMetrix, a provider of artificial intelligence (AI) solutions for healthcare revenue cycle management, has announced the successful closing of its $40 million Series B funding round led by Transformation Capital with participation from existing investors SignalFire, Series A lead, and Frist Cressey Ventures. - The Series B funding round will fuel further development of CodaMetrix's AI-powered platform, designed to streamline medical coding, improve data quality,
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Frazier Healthcare Acquires RevSpring to Bolster Payment Solutions in Healthcare

by Jasmine Pennic 03/12/2024 Leave a Comment

Frazier Healthcare Acquires RevSpring to Bolster Payment Solutions in Healthcare

What You Should Know: - Frazier Healthcare Partners, a leading healthcare investment firm, announced today the successful acquisition of RevSpring. - RevSpring, a provider of end-to-end communication and payment solutions for healthcare and financial services companies, will join Frazier's portfolio. Frazier's Investment Fuels RevSpring's Future The acquisition brings together RevSpring's established presence in the communication and payment solutions market with Frazier's deep
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R1 RCM Forms Special Committee to Evaluate $5.8B PE Firm Buy-Out Offer

by Fred Pennic 03/12/2024 Leave a Comment

R1 RCM, Intermountain Opens Technology and Innovation Center

What You Should Know: - R1 RCM Inc. (NASDAQ: RCM), a provider of healthcare revenue cycle management solutions, announced the formation of a special committee comprised solely of independent directors. - The new committee will evaluate strategic options for the company in response to a recent $5.8B buy-out offer from private equity firm New Mountain Capital. Responding to New Mountain Capital On February 26, 2024, New Mountain Capital filed a Schedule 13D/A with the Securities and
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Change Healthcare Attack: UHG Announces Restoration Timeline & Provider Relief

by Fred Pennic 03/07/2024 Leave a Comment

Change Healthcare Attack: UHG Announces Restoration Timeline & Provider Relief

What You Should Know: - UnitedHealth Group (UHG) announced today significant progress in restoring Change Healthcare systems following a cyberattack that disrupted healthcare claims and payment processes nationwide. - UHG urges all payers to adopt similar funding programs to address the critical short-term cash flow needs of healthcare providers. Restoration Timeline Pharmacy Services: Electronic prescribing, claim submission, and payment transmission are fully operational as of
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DeepScribe and AWS Partner to Advance AI-Powered Medical Documentation

by Jasmine Pennic 02/26/2024 Leave a Comment

DeepScribe and AWS Partner to Advance AI-Powered Medical Documentation

What You Should Know: - DeepScribe, a pioneer in AI-powered medical documentation, today announced a collaboration with Amazon Web Services (AWS) aimed at accelerating the secure scaling of large language models (LLMs) within the healthcare sector. - The strategic partnership will integrate AWS HealthScribe into DeepScribe's platform, fueling the development of even more advanced AI-assisted clinical documentation solutions. Scale Generative AI in Healthcare DeepScribe utilizes a
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CPSI Rebrands as TruBridge, Unifying Solutions for a Streamlined Future in Healthcare

by Jasmine Pennic 02/23/2024 Leave a Comment

CPSI Rebrands as TruBridge, Unifying Solutions for a Streamlined Future in Healthcare

What You Should Know: - CPSI (NASDAQ: CPSI) announced a strategic rebranding, transitioning to TruBridge, Inc. ("TruBridge") effective March 4, 2024. - The rebrand reflects a commitment to streamlining its offerings, strengthening its market presence, and driving future growth by creating a unified identity. A Unified Vision for Healthcare Solutions The new name, TruBridge, reflects the company's commitment to building a bridge between efficient financial management and quality
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