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
Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
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
Medical Coding Market to Reach $15.3B by 2033, Report Finds
What You Should Know:
- The medical coding market is estimated to secure a valuation of $ 6.7B in 2023 and is estimated to rise to $15.3B by 2033 at a CAGR of 8.6% during the 2023 to 2033 forecast period, according to a new Future Market Insights report.
- The increasing availability of a large number of medical coding service providers and the rising adoption rate of advanced healthcare solutions like electronic health records (EHRs), revenue cycle management (RCM) software, and mobile
Read More
Catholic Care Center to Deploy Medsphere’s Wellsoft EHR and RCM Cloud Solutions
What You Should Know:
- Medsphere Systems Corporation announced that Catholic Care Center of Bel Aire, Kansas, a Wichita suburb, will open a new senior behavioral health hospital with the company’s Wellsoft electronic health record (EHR) and RCM Cloud revenue cycle management solutions.
- Medsphere’s Wellsoft EHR solution supports comprehensive care across behavioral health, urgent, and emergency care environments. The company’s RCM Cloud solution is
Read More
Report: Razor Thin Hospital Margins Becoming The New Norm
What You Should Know:
- Hospital finances are beginning to stabilize as razor-thin margins become the new normal, according to the newest data from Kaufman Hall. The National Hospital Flash Report draws on data from more than 900 hospitals from Syntellis Performance Solutions.
- The latest National Hospital Flash Report shows that the high level of variance that plagued hospital margins over the past
Read More
Survey Reveals Accelerating Use of AI to Overcome Workforce Challenges
What You Should Know:
- Given the severity of labor shortages and staffing constraints facing health systems nationwide, C-suite executives are turning to artificial intelligence (AI) to fill gaps and improve productivity, according to a recent survey conducted by The Health Management Academy (The Academy) with support from Outbound AI.
- Almost half of executives (47.5%) report their health system is currently using AI solutions for the workforce, while all others
Read More
Healthcare in Denial: The State of Claims in 2023
How do you solve a persistent and growing problem like claims denials?
It’s been a hot topic for revenue cycle management professionals for years that’s only getting hotter with the increasing pressures of staffing shortages, challenges with staff turnover and training and ever-changing policies and protocols at the government and payer levels.
On the macro-economic level, denials contribute mightily to the growing problem of uncompensated care in America, currently estimated at $43
Read More
Nuance and Microsoft Launches AI-Automated Clinical Documentation App
What You Should Know:
- Nuance Communications and Microsoft launches DAX Express, a workflow-integrated, fully automated clinical documentation application and the first to combine proven conversational and ambient AI with the newest and most capable generative AI technology, GPT4.
- DAX Express creates draft clinical notes automatically and securely in seconds from exam room or telehealth patient conversations for immediate clinical review after each
Read More
