What You Should Know: - More than one-third of hospital and health system transactions announced in Q3 2023 involved a party that cited financial distress as a transaction driver, according to Kaufman Hall’s latest mergers and acquisitions (M&A) report. The reports reveal third quarter M&A activity remained high with 18 announced transactions resulting in $8.2B in total transacted revenue. - Kaufman Hall experts say transaction activity is regaining momentum as hospitals,
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
M&A: WellSky’s Acquires Corridor to Expand Medical Coding & RCM Services
What You Should Know: - WellSky, a health and community care technology company, announced it has acquired Corridor, an end-to-end tech-enabled services platform for the post-acute care industry, from HealthEdge Investment Partners. Financial detials of the acquisition were not disclosed. - By adding Corridor to its portfolio, WellSky will expand its medical coding and revenue cycle management (RCM) offerings to help care providers increase efficiency and improve performance
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Rev Cycle M&A: Access Healthcare Acquires Envera Health
What You Should Know: - Access Healthcare, a provider of revenue cycle management (RCM) and healthcare services, announced the acquisition of Envera Health, a market leader in patient engagement services. - This acquisition, a testament to Access Healthcare’s focus on providing innovative and superior revenue cycle solutions, broadens its service portfolio to include enhanced patient engagement capabilities. Acquisition Stregthens Access Healthcare’s RCM Services By
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Automation Fills Gaps Left by Revenue Cycle Talent Shortage
Healthcare providers are feeling the industry’s talent shortage in their administrative functions as well as clinical areas. One case in point: revenue cycle management. In a recent study, 63% of healthcare providers reported an inability to fill key revenue management roles. Reduced revenues and cash reserves are almost inevitable when providers don’t have sufficient staff to follow up on claims, manage appeals and help patients understand their financial responsibilities and
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Expectation vs. Reality: Improving the Patient Payment Experience
If you’ve ever worked behind the scenes at a provider organization, you likely gained a deep understanding of what makes medical practices tick, giving you the ability to make fairly accurate assumptions about how patients will probably behave in different scenarios. However, when it comes to the patient payment experience, inevitably some patients respond differently than expected. Seasoned healthcare workers have likely experienced a number of common misconceptions about patients’
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M&A: AHIMA Acquires HCPro
What You Should Know: - The American Health Information Management Association (AHIMA) today announced that it acquired HCPro and its associated brands from Simplify Compliance. The strategic acquisition broadens the reach of both organizations. - AHIMA will operate HCPro as a for-profit, wholly-owned subsidiary, enabling the organization to remain focused on caring for its clients. HCPro Background HCPro is an industry leader in integrated information,
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Augmedix Launches Gen AI Mobile App for Automated Medical Notes
What You Should Know: - Augmedix, a provider of ambient medical documentation and data solutions, announced the early access release Augmedix Go, a clinician-controlled mobile app that uses generative AI to instantaneously create a fully automated draft medical note after each patient visit. Augmedix Go harnesses proprietary natural language processing (NLP), large language models (LLMs), and structured data sets, key components of Augmedix’s tech stack. This powerful technology is
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Consumers Cite Healthcare Affordability as Biggest Concern to Paying Medical Bills
What You Should Know: Rising healthcare expenses, lack of certainty over costs and financial support and poor coordination between providers and payers have caused consumers to feel more stressed than ever before about their healthcare bills. According to the 2024 Healthcare Financial Experience Study, 72% of consumers cite affordability as the biggest challenge to paying larger healthcare bills—not that they don’t want to. Struggling to afford healthcare bills isn’t just a headache, it can
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Balancing AI-Enhanced Automation in Healthcare Revenue Cycle
Typically, hearing the terms “Automation or AI” elicits one of two responses-- an immediate sense of apprehension and avoidance, or a complete overestimation of its capabilities, though in some cases those two responses go hand in hand. However, neither view is particularly helpful as one is trying to understand the tremendous power of this capability and employ it in appropriate places within their business. The truth is, automation and AI are here and they’re here to stay. Though there are
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TeleVox Acquires Odeza Patient Engagement Business from Ensemble Health Partners
What You Should Know: - TeleVox announced it has acquired the Odeza patient engagement business from Ensemble Health Partners (Ensemble), a revenue cycle management company for hospitals, health systems and physician practices. Financial terms of the acquisition were not disclosed. - The acquisition will make TeleVox’s technology available to Ensemble’s customers, offering healthcare providers a comprehensive solution from patient acquisition to discharge and beyond.
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