What You Should Know:
- U.S. hospitals and health systems continued to experience positive financial performance in April, with patient demand and revenues rising for the 12th consecutive month, according to new data from Strata Decision Technology.
- While hospitals and health systems experienced positive financial performance in April, rising expenses remain a concern. Continued monitoring of these trends will be crucial for understanding the overall health of the healthcare
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
SamaCare Secures $17M to Scale Specialty Drug Prior Authorization Platform
What You Should Know:
- SamaCare, a cloud-based patient access platform for specialty medications, today announced that it has closed an oversubscribed $17 million Series B investment round led by new investor Questa Capital.
- Questa is joined in the round by existing investors Vive Collective and South Park Commons.
SamaCare
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Daffodil Health Secures $4.6M for AI-Powered Healthcare Pricing & Admin Solution
What You Should Know:
- Daffodil Health, a healthcare technology company, has secured $4.6M in seed funding to tackle the multi-billion dollar problem of wasted healthcare administrative costs led by Maverick Ventures with participation from Epic Ventures.
- Daffodil Health is the brainchild of a team with over 100 years of combined experience in healthcare and technology, from companies like MultiPlan, Google, and McKinsey. They recognize the urgent need to overhaul the current
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SmarterDx Nabs $50M for AI-Powered Revenue Integrity for Hospitals
What You Should Know:
- SmarterDx, the leader in clinical AI for revenue integrity and care quality, today announced it has secured $50 million in Series B funding led by Transformation Capital.
- The round also includes continued investments from Bessemer Venture Partners, Flare Capital Partners and Floodgate Fund, bringing total funding to $71 million to date. The investment will drive product
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Revenue Integrity in 2024: Reducing Leakage Points in a Complicated Cycle
The concept of “revenue integrity” hasn’t really changed over the years, but the roles, responsibilities, and oversight have become far more complex and difficult to gain industry consensus around. What began as several defined systems of controls by which hospitals guarded against revenue loss, revenue integrity has seemingly turned into more narrowly focused controls in many organizations, leaving critical gaps in what once was a more holistic approach to fiscal
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Firstsource Acquires Quintessence to Bolster AI-Powered Revenue Cycle Management Solutions
What You Should Know:
- Firstsource Solutions Limited (FSL), a leading global provider of Business Process Management (BPM) services, announced the acquisition of Quintessence Business Solutions & Services Private Limited (QBSS).
- The strategic acquisition strengthens Firstsource's position in the healthcare revenue cycle management (RCM) market, particularly in the United States. Financial details of the acquisition were not disclosed.
Enhanced RCM
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How AI Can Increase the Success of Clinical Denials Appeals
It’s a perfect storm of financial pressures facing healthcare provider organizations – from rising costs to labor shortages to constrained capacity – that stymies revenue growth. Growing challenges with payer payments only exacerbate these issues. According to a Kaufman Hall report, 73% of leaders surveyed said claims denials, which was the top revenue cycle issue in 2022, had increased in 2023.
The cost of denials is staggering. A recent data analysis revealed that providers spent nearly $20
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Ensemble Health Partners, Microsoft Strengthens AI-Powered Revenue Cycle Management with Expanded Partnership
What You Should Know:
- Ensemble Health Partners, a provider of end-to-end revenue cycle outsourcing (RCM) for healthcare organizations, has announced a significant expansion of its partnership with Microsoft.
- The strategic collaboration aims to accelerate the development and adoption of Ensemble's industry-leading revenue cycle intelligence platform, EIQ®.
EIQ®: Powering AI-Driven Revenue Cycle Management
EIQ® is a powerful platform that leverages Microsoft Azure's
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Humana Expands Use of Cohere Health’s Prior Authorization Platform
What You Should Know:
- Cohere Health, a recognized leader in clinical intelligence and prior authorization automation, announced that Humana Inc. (NYSE: HUM) will expand its use of Cohere's prior authorization platform for diagnostic imaging and sleep services.
- In January 2021, Cohere and Humana began a pilot
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Putting 2024’s Split/Shared Services Billing Regulations into Practice
Medicare providers in hospitals and skilled nursing facilities (SNFs) are adjusting to new split/shared services documentation and billing regulations rolled out by the Centers for Medicare and Medicaid Services (CMS) as part of the 2024 Medicare Physician Fee Schedule (MPFS) final rule. The most notable change within the new regulations, which took effect on Jan. 1, 2024, is the finalization of CMS’s definition of the “substantive portion” of a split/shared evaluation and management (E/M)
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