What You Should Know:
The healthcare revenue cycle is getting a major makeover, driven by a surge in automation and artificial intelligence (AI). A new survey by AKASA, a leading developer of AI-powered revenue cycle automation solutions, reveals that 74% of healthcare organizations are already automating some part of their revenue cycle operations, and 80% of those not currently using it plan to do so by the end of 2025.
The Rise of the Robots
- Automation is no longer a luxury, but a
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
KAID Health Secures $9M to Drive AI-Driven Healthcare Efficiency
What You Should Know:
- KAID Health, the AI-powered healthcare solutions pioneer, has secured a significant $9 million in funding led by Activate Venture Partners, Martinson Ventures, Boston Millennia Partners, and Brandon Hull, alongside KAID Health's Board of Directors.
- With this new funding, KAID Health plans to expand its reach to more providers and their payer partners and develop new service offerings.
Unlocking the Power of Whole Chart Analysis
KAID Health's flagship
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TREND Health Acquires Advent for AI-Powered Healthcare Payment Accuracy
What You Should Know:
- TREND Health Partners, a rapidly growing provider of AI-driven solutions, has acquired Advent Health Partners, an AI-driven platform identifies and standardizes clinical attributes from itemized bills and medical records, expediting critical information presentation and ensuring timely and appropriate reimbursement.
- This strategic combination brings together two industry powerhouses, creating a comprehensive platform for payers and providers seeking to optimize
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Rise of RCM Managed Services: 95% of Healthcare Execs Embrace RCM Outsourcing
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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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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