What You Should Know:
Apixio announced it has completed its merger with ClaimLogiq, a healthcare technology business that delivers savings for health plans by reducing claim errors prior to payment. Together, the combined entity will be branded as Apixio.Together, the combination of Apixio and ClaimLogiq’s critical infrastructure, artificial intelligence, and proprietary healthcare data will accelerate the shift toward outcomes-based reimbursement models by reducing costs, minimizing
Read More
Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
With A Recession Looming, Here’s How Practices Can Ensure Minimal Revenue Loss
Healthcare systems driven by insurers fronting most of their members’ healthcare bills have allowed hospitals to be relatively immune to economic downturns in the past. However, this dynamic began to shift as consumer-directed health plans hit the mainstream. Exaggerated by the rise of the current consumer mentality, even more, patients will be vulnerable to healthcare financial responsibility due to the prevalence of high deductible plans (HDHPs) as consumers embark on the looming bust.
To
Read More
AI Can Eliminate Surprise Bills, Improve Payment Integrity
Anyone who receives a hospital, medical imaging, or outpatient surgery bill is usually surprised at the cost.
No matter the cost, how do they know the bill is correct? They don’t.
Incorrect medical bills have become so prevalent that organizations have started applying technologies like artificial intelligence (AI) and machine learning to reduce drastically high healthcare costs.
Consider what organizations as diverse as the Office of the Inspector General, Harvard
Read More
Denials Management Named Most Time-Consuming Task in RCM
What You Should Know:
A new HFMA survey commissioned by AKASA highlights the revenue cycle tasks requiring the most subject matter expertise, according to responses from over 550 CFOs and revenue cycle leaders at hospitals and health systems across the U.S.Denials management not only requires the most subject matter expertise, but it’s also the most time-consuming task within revenue cycle management (RCM) — followed by prior authorization and insurance
Read More
How Health Payment Accounts Improve Health Equity
In 2022, 38 percent of Americans reported delaying medical care—a 20-year high. But as with many things, the burden of paying for healthcare doesn’t affect all Americans equally.
Lower-income communities, for example, tend to have higher incidences of disease and therefore a greater need for healthcare. And in a vicious catch-22, those with lower incomes, Black and Hispanic adults, and women often have health benefits mis-sized to their income, which contributes to higher incidences of
Read More
FWA Is Increasing. Healthcare Costs Are Spiraling. Now There’s A New Generation Of AI Technology To Take Back Control
In 2020, the Department of Justice estimated that fraudulent, wasteful, and abusive (FWA) billing practices account for more than $100 billion of the nation’s healthcare expenditures.1 Today, the National Healthcare Anti-Fraud Association (NHCAA) conservatively estimates that healthcare FWA costs the nation about $68 billion annually, representing 3% of the nation's $2.26 trillion in healthcare spending.2 FWA estimates from commercial health plans range as high as $230 billion annually, or
Read More
Inbox Health Raises $22.5M for Patient Billing Communications Platform
What You Should Know:
Inbox Health, a New Haven, CT-based patient billing communications platform raises $22.5M in a Series B financing round, led by fintech-focused Ten Coves Capital. The Series B announcement follows news that Inbox Health's billing technology was awarded a patent by the U.S. Patent and Trademark Office in April 2023. The new growth capital will further accelerate Inbox Health’s strategic growth as it continues to improve and modernize the billing, support, and payment
Read More
Sagility Acquires Payment Integrity Provider DCI Consulting
What You Should Know:
Sagility, a provder optimizing the member/patient experience and business process management acquires Chandler, Arizona-based Devlin Consulting, Inc. (DCI), an established healthcare technology services company with nearly 30 years of payment integrity experience.The acquisition represents Sagility’s first acquisition since unveiling its new identity as an independent U.S.-based company solely dedicated to the healthcare industry following the 2021 divestment from HGS.
Read More
ClaimsXten Rebrands as Lyric, Appoints Raj Ronanki as CEO
What You Should Know:
- ClaimsXten Portfolio, a claims editing software business owned by TPG Capital, today announced it has rebranded as Lyric.
- In addition, the company announced the appointment of Raj Ronanki as Chief Executive Officer. Ronanki most recently served as Senior Vice President of Elevance Health and President of Carelon Digital Platforms. Carolyn Wukitch, who has served as CEO of the company, formerly known as ClaimsXten Portfolio, will continue in a leadership role as
Read More
Availity Acquires Olive AI’s Utilization Management Solution and Business Unit
What You Should Know:
- Availity today announced a definitive agreement to acquire the utilization management solution and business unit from healthcare automation company Olive AI, Inc. Financial details of the acquisition were not disclosed.
- The acquisition of Olive AI's utilization management solution offers numerous benefits for Availity’s national network of payers and providers. These include lower administrative and medical costs, improved patient access
Read More
