What You Should Know: - Today R1 announced they will acquire patient financial engagement company VisitPay for $300 million in cash, leading the charge in overhauling the patient experience in the area with the most pain points - from surprise billing to price transparency. The acquisition marks R1’s third acquisition in the last year, transitioning the organization from a revenue cycle management services leader to a leading technology company. - VisitPay’s cloud-based platform is used by
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Why the Digital Front Door is Critical to the Healthcare Revenue Cycle
The COVID-19 crisis has upended many of our traditional business procedures and processes. However, because digital transformations were well underway before the pandemic, the shift to remote work and contactless consumer self-service was swift. In healthcare, digital strategies that were expected to take 10 years to accomplish may now be compressed into three. That acceleration is especially evident with the “digital front door” – a strategy for engaging patients at every major touchpoint of
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Medchart Raises $17M to Simply The Request of Medical Records for Patients, Businesses
What You Should Know: - Medchart, a Dallas-based cloud-based platform powering patient-authorized information for businesses, researchers, and consumer services announced it has raised $17M in seed and Series A funding led by Crosslink Capital and Golden Ventures, with additional funds from Vast Ventures, Union Ventures, iGan Partners, Stanford Law School, and hip hop icon Nas, an original backer. - The company will apply the current investment to accelerate product innovation and hire new
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Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity
The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response. Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated. Over the course of the quarter, we observed $7 billion in private equity and venture capital investment across 158 companies. By comparison, Q1 of 2020 saw $3.2 billion and 127 investments. Health IT
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Cardinal Health and Deep Lens Collaborate for AI-based Oncology Clinical Trial Matching
What You Should Know: - Today, Deep Lens and Cardinal Health announced a strategic collaboration that will integrate Deep Lens’ AI-based clinical trial matching solution, VIPER, into community-based oncology practices throughout the Cardinal network. VIPER will be a part of Cardinal Health’s new Navista advanced suite of technology solutions designed to help oncologists improve outcomes, provide high quality care at the best possible cost and select the right care plan at the onset of
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Inbox Health Raises $15M for Intelligent Patient Billing Engagement Platform
What You Should Know: - Inbox Health, the platform modernizing patient payments announced it has raised $15M in Series A funding led by Commerce Ventures with participation from new and existing investors, including venture firms Vertical Venture Partners, Healthy Ventures, Collaborative Fund, Fairview Capital, CT Innovations, and I2BF Global Ventures, as well as several industry leading individuals including Bill Clerico, Co-Founder and Former CEO of WePay. - The company plans to utilize
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3 Barriers Stalling AI Adoption in Revenue Cycle Management
AI technology is quickly evolving and already surpassing human decision-making in certain instances; sometimes, in ways, we can’t explain. While many are alarmed by this, AI is producing some of the most effective and dramatic results in business today. Adoption of AI in healthcare is growing, but there are still barriers to overcome AI can be defined in many ways but, broadly, it is the ability of a machine to perform cognitive functions we associate with human minds, such as
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Omega Healthcare Acquires himagine Solutions to Expand Global Delivery Model
What You Should Know: - Omega Healthcare, a provider of outsourced revenue cycle management and other healthcare support services, today announced the acquisition of himagine Solutions, a St. Louis based provider of medical coding and registry services. The transaction expands the service capabilities and geographical footprint of both companies, enhancing the ability to service clients globally. - Through this acquisition Omega Healthcare will be
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AKASA Raises $60M to Automate Revenue Cycle Operations for Health Systems
What You Should Know: - AKASA (formerly known as Alpha Health), a South San Francisco, CA-based Unified Automation™ company for revenue cycle management in healthcare, announced it has raised $60 million in its series B round of funding. - Founded in 2018, AKASA uses the same machine learning approaches that made driverless cars possible to provide health systems with a single solution for automating revenue cycle operations. AKASA’s unique expert-in-the-loop approach combines modern
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Greenway Health Launches Customizable RCM Solution
What You Should Know: - Greenway Health announced the launch of its new Greenway Revenue Services offering, GRS Select™, a customizable revenue cycle management (RCM) offering designed to meet the unique, individualized needs of healthcare practices as they rebuild and improve the profitability of their practices a year after the onset of the COVID-19 pandemic. - In contrast to most RCM services, Greenway Revenue Services partners with practices’ current staff to help them improve
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