Nate Maslak, the co-founder/CEO of Ribbon Health
Price Transparency: In 2022, we saw CMS’s Transparency in Coverage rule go into effect, requiring non-hospital entities like health plans and providers to publish publicly available rates for care. In 2023, we’ll see this price transparency data become more mainstream as it finally makes its way into the hands of patients, empowering them to find the best care for them, reevaluate their care choices, and shop around for the best possible care
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
43% of Consumers Spend Up To A Month Correcting Billing Errors
What You Should Know:
- In the online survey administered to 800 U.S. consumers who had found at least one medical billing error in the last five years, 41% of the consumers are significantly frustrated trying to address billing errors.
- Zelis, a company modernizing the business of healthcare, announced findings from a new study on consumer billing conducted in partnership with Hanover Research, an independent research firm. The full results and insights are featured in the
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M&A: Alpine Investors Acquires RCM Services Provider Medusind
What You Should Know:
- Alpine Investors, a people-driven private equity fund, announced that it has acquired Medusind, a provider of revenue cycle management services to the healthcare industry.
- Jose Rivero, an Alpine CEO-in-Residence and part of the firm’s PeopleFirst program, has assumed the role of CEO of Medusind. Terms of the private transaction were not disclosed.
Medusind Background
Founded in 2002, Medusind provides deep expertise and powerful revenue cycle
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The Future of Digital Payment Trends in Healthcare to Watch
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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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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