What You Should Know:
- Ensemble Health Partners, a provider of revenue cycle management services, has released its 2024 Healthcare Business Trends Report, revealing a shift in priorities among healthcare executives.
- The report, based on a survey of over 100 senior executives, highlights a growing focus on outsourcing revenue cycle management and leveraging external expertise to drive performance, improve financial health, and achieve long-term growth.
4 Trends Driving the Next 4
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
R1 RCM Acquires Acclara for $675M, Secures 10-Year RCM Partnership with Providence Health System
What You Should Know:
- R1 RCM Inc. (NASDAQ: RCM), a provider of technology-driven solutions for healthcare providers, announced a significant strategic partnership involving the acquisition of Acclara and a 10-year revenue cycle management agreement with Providence, one of the nation's largest health systems.
- The acquisition of Acclara for $675M in cash and warrants will bolster R1's offerings and position it as the "trusted partner of choice" in comprehensive revenue cycle management.
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4 Ways AI Is Enhancing The Patient Experience in 2024
Artificial intelligence (AI) captured the imagination of many in 2023. AI gets a lot of attention but little understanding or appreciation of what it can do to move revenue cycle management (RCM) forward, improve the patient experience, and answer the question, “Are you receiving the appropriate reimbursement?”
More than 3 of 5 companies are still experimenting with AI, according to a recent survey by Accenture. Only one in four are innovating or achieving stated objectives) and
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HFMA and FinThrive Launch Revenue Cycle Management Technology Adoption Model
What You Should Know:
- The Healthcare Financial Management Association (HFMA) has announced a strategic alliance with FinThrive, Inc., a healthcare revenue cycle management (RCM) software-as-a-service (SaaS) provider, to co-launch a peer-reviewed, five-stage Revenue Cycle Management Technology Adoption Model (RCMTAM).
- The RCMTAM is designed to help health systems leverage industry benchmarks to assess their current state of RCM technology maturity and build best-practice plans to
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M&A: Experian Acquires Wave HDC to Enhance Healthcare Coverage Identification and Automation
What You Should Know:
- Experian acquires Wave HDC, a healthcare technology leader that offers AI-enhanced data curation solutions to identify unknown insurance benefits coverage and critical patient demographics at the start of a patient's healthcare journey.
- The acquisition bolsters the Experian Health business portfolio with more comprehensive and faster healthcare coverage identification and automation capabilities.
Wave HDC's AI-Powered Solutions
Wave HDC offers several
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PayGround Secures $19.7M to Expand Healthcare Fintech Payments Platform
What You Should Know:
- PayGround, a Gilbert, AZ-based healthcare fintech payments platform, announced closing a $19.7M oversubscribed Series A financing led by SixThirty with participation from Rally Ventures, IA Capital Group, FCA Venture Partners and Plug and Play Ventures.
- The funding will bolster the company’s rapid expansion into hospitals and health systems, building on its success in the ambulatory market, as well as grow its senior leadership
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Phare Health Secures $3.1M for AI-Powered Hospital Financial Management
What You Should Know:
- Phare Health, a London-based startup, has secured $3.1M million in seed funding led by General Catalyst to transform hospital financial management in the UK and Europe.
- The company's AI-powered solution bridges the gap between clinicians' notes and hospital management, enabling better resource allocation and improved patient care.
Harnessing AI for Healthcare Efficiency
Phare Health's groundbreaking AI system extracts valuable insights from clinicians'
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RadNet Embraces AI-Powered Medical Coding with Maverick Medical AI Partnership
What You Should Know:
- Maverick Medical AI, a provider of an innovative and autonomous AI-powered medical coding platform forms a strategic partnership with RadNet, Inc., a national provider of free-standing, fixed-site radiology diagnostic imaging services in the United States.
- This groundbreaking partnership will integrate Maverick's Autonomous Medical Coding platform into RadNet's extensive network of imaging centers, paving the way for significant advancements in revenue cycle
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Flywheel’s AI Platform Takes Flight with Microsoft Azure and NVIDIA
What You Should Know:
Flywheel, a medical imaging artificial intelligence (AI) development platform, today announced the launch of its software-as-a-service (SaaS) data management solution on Microsoft Azure. This new SaaS offering will provide healthcare organizations with a secure, scalable, and user-friendly platform to manage, curate, and analyze their medical imaging data.
Flywheel's SaaS solution is integrated with NVIDIA MONAI, part of the NVIDIA AI Enterprise software platform,
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GE and CodaMetrix Partner to Bolster AI-Powered Automated Coding for Providers
What You Should Know:
- CodaMetrix has partnered with GE HealthCare to bring its AI-powered automated coding solution, CMX Automate, to GE HealthCare customers.
- This will enable GE HealthCare customers to benefit from CMX Automate's ability to improve coding accuracy, efficiency, and revenue cycle management. CMX Automate is a cloud-based solution that uses machine learning, deep learning, and natural language processing to translate clinical notes into billing and diagnostic codes.
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