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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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
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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Healthcare Embraces Generative AI: 70% of Organizations Actively Explore its Revenue Cycle Potential
What You Should Know:
- AKASA, a leading developer of AI-powered automation for the revenue cycle, released new survey results showing that more than 70 percent of healthcare organizations are actively considering the use of generative AI.
- In the same survey of more than 250 CFOs and financial leaders at health systems and hospitals across the U.S., nearly 60% percent of respondents indicated they are actively considering these new technologies for their revenue cycle
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M&A: AAPC Acquires Semantic Health’s AI-Powered Medical Auditing Solution
What You Should Know:
- AAPC, a leading global solutions provider in healthcare revenue cycle management, has acquired Semantic Health, an early-stage healthcare technology company focused on creating AI-powered inpatient medical auditing software for health insurance plans and hospitals.
- This acquisition will allow AAPC to offer its members innovative tools to streamline auditing processes, reduce denials, and improve documentation quality.
AI-Powered Inpatient Medical
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Particle Health, Hona Integrate to Deliver Longitudinal Data for Informed Clinical Decisions
What You Should Know:
- Particle Health, an intelligent data platform that aggregates and delivers actionable patient data and insights and Hona have formed a strategic partnership to enhance Hona's AI-driven healthcare solution. Hona is a customizable, HIPAA-compliant artificial intelligence product that searches and converts thousands of health records into one simple patient overview for healthcare providers,
- The collaboration between Particle Health and Hona aims to simplify patient
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Healthcare Staffing Shortages Take Toll on Revenue Cycle Management & Patient Engagement
What You Should Know:
- 100 percent of hospital and health system respondents stated that staffing shortages have significantly affected revenue cycle management (RCM) and patient engagement efforts, according to a new survey by Experian Health.
- A significant 69 percent of the surveyed healthcare executives responsible for RCM staffing foresee ongoing challenges in the long term.
Challenges Present Urgent Need for Solutions
The findings highlight the urgent need for
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Understaffed RCM Payment Teams Need a New Way Forward
Last year, only 8% of healthcare executives said their RCM or billing departments were adequately staffed, and a stunning 48% said the employee shortage was “severe,” according to a survey cited in MedCityNews.
RCM teams are the engine that allows the machinery of healthcare organizations to run. Without effective billing and payment processes that deliver positive patient financial experiences, everything grinds to a halt.
These staffing woes can’t continue. The cascade of problems that
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Waystar Postpones U.S. IPO in Response to Market Turbulence
What You Should Know:
- Waystar, a healthcare payments company, has decided to postpone its initial public offering (IPO) due to the ongoing market turmoil in the United States, according to a confidential source. Reuters first reports the company plans to revive its IPO efforts, but it is likely to wait until December at the earliest or possibly until 2024.
- The decision to delay the IPO was made in response to the volatility in the broader market. Despite receiving positive
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