Staffing shortages, cost of care delivery and reimbursement changes have put more pressure on healthcare practices to do more with less. Recent technology advancements have come to the rescue and enabled healthcare organizations to simplify processes, improve communication efforts and ultimately support staff and patients alike.
Patient payment tools are an example of a technology solution that has been around for years but has not been widely adopted. However, as technology has
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Edifecs and 3M Partner on Integrated Value-Based Payment Solution
What You Should Know:
- 3M Health Information Systems and Edifecs (a global health IT solutions provider) announced a collaboration and new unique solution for providers and payers that will accelerate the adoption of value-based payment (VBP) models.
- A new, combined solution that will overcome barriers that have previously prevented rapid adoption of VBP models. This advanced approach will allow payers and providers to quantify the value of preventing negative events and allocate
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Paytient Raises $63M to Expand Health Payment Accounts (HPAs)
What You Should Know:
- Paytient, the creator and leading provider of Health Payment Accounts (HPAs), today announced a $40.5M Series B funding round, bringing the company’s total funding to $63M. The funds, consisting of $33M in equity from new and existing investors and $7.5M in debt from Silicon Valley Bank, will be used to scale growth and product development in 2023 and beyond.
- The round was led by Utah-based growth fund Mercato Partners Traverse Fund, with participation from
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If You Are Not Using AI for Medical Coding, You Are Not Doing Your Job
A quick, efficient, and well-managed revenue cycle creates a solid foundation for a profitable medical organization. That’s why if you’re responsible for ensuring the health of your organization's revenue cycle and you are not using AI for medical coding, you are not doing your job.
Let me explain.
Some RCM professionals may see medical coding as a small portion of the revenue cycle; however, its reach is wide. The quality and accuracy of medical coding can either negatively or
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7 out of 10 Healthcare Workers Find it Stressful to Manage Their Finances
What You Should Know:
- More than half of all healthcare workers (52%) feel less confident about their personal financial situation now compared to a year ago, according to a recent Harris Poll, among over 2,000 U.S. adults of which nearly 200 are healthcare workers, commissioned by IntelyCare and DailyPay.
- The latest IntelyCare Research Group report, looks at how financial precarity and stress affect healthcare workers and simultaneously explores measures
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PayZen Nabs $200M for Personalized, No-Cost Patient Financing
What You Should Know:
- PayZen, the fintech company tackling healthcare affordability with personalized, no-cost patient financing solutions raises a $220 million growth round. The round is composed of $20 million in equity financing and a $200 million credit facility led by 7wireVentures, while Viola Credit provided a $200 million warehouse credit facility to support continued market expansion.
- PayZen will use the funds to scale its operations and product development as the interest in
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Prior Authorization Reforms Don’t Address the Real Problem. Here’s How AI Can Help.
After waiting weeks for an open appointment, John finally gets in to see the orthopedic surgeon to evaluate his acute knee pain. He’s already been off work for over two months and has barely been able to leave the house, popping anti-inflammatory and pain medicine to manage the pain every day.
Suspecting a torn meniscus, the doctor orders an MRI to verify the diagnosis and plan his treatment approach. The nurse begins the process by calling John’s insurance carrier to verify coverage,
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Edifecs Partners with Empowered-Home to Deliver Automated Prior Authorizations
What You Should Know:
- Edifecs and Empowered-Home announced a partnership to provide automated prior authorizations to medical associations, Accountable Care Organizations (ACOs), Independent Physician Associations (IPAs), medical groups, and home health care agencies.
- The Edifecs prior authorization solution combined with the clinical decision support system of patient management software company, Privis Health, forms the backbone of Empowered-Home’s ecosystem. Empowered-Home is
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Why Data Transparency Is the Most Important Metric for Healthcare Providers Right Now
Healthcare providers all over the world are battling with how to take patient information and patient care digital. How can we use the tools and technology at our fingertips to make treating patients easier and more effective, rather than more complicated? Converting data into useful information will be the key to making this transition successful.
Data is the currency, language, form, and function of digital transformation in healthcare. Having an easily accessible data warehouse and
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Zelis Acquires Healthcare Payment Reimbursement Solutions Payspan
What You Should Know:
- Zelis, a company modernizing the business of healthcare, announced today the completion of its acquisition of Payspan, a leader in healthcare electronic payment and reimbursement automation services. Financial terms of the transaction were not disclosed.
- The acquisition will accelerate Zelis' mission to modernize the business of healthcare through a connected platform and expansion of offerings for healthcare insurers, providers, and their members.
Improving
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