What You Should Know:
- Cohere Health announced that Humana Inc. is embarking on a nationwide expansion of Cohere's digital prior authorization platform for musculoskeletal (MSK) services, based on the success of its initial implementation.
- After rolling out the platform across 12 states in January 2021, Humana has made significant progress toward achieving its vision to reimagine and modernize processes for prior authorization by reducing approval times, increasing provider
Read More
Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Cerner Launches RevElate Patient Accounting for Rev Cycle Portfolio
What You Should Know:
- Today Cerner announced the launch of Cerner RevElate™, the company’s go-forward patient accounting product that will bring new and enhanced capabilities to the Cerner® revenue cycle management portfolio.
- Cerner RevElate is expected to preserve and advance the clinically driven capabilities of Cerner Millennium® while adding scalable, enterprise capabilities of Soarian® Patient Accounting software.
Read More
TailorMed Raises Additional $5M to Close $25M Round for Patient Financial Navigation Platform
What You Should Know:
– TailorMed Medical Ltd., a New York City-based patient financial navigation technology company, today announced it has raised an additional $5M of funding, increasing the overall investment to $25 million. The new strategic investors, American Cancer Society’s impact investment fund, BrightEdge, OSF Healthcare’s corporate investment arm, OSF Ventures, and Citi via their Citi Impact Fund, seek to reduce medical costs through TailorMed’s platform across all treatments and
Read More
RCM: The Art of Compassionate Billing—and Why You Should Put Patients First
A woman is charged $22,000 for stitches and scar repair after being bitten by a dog. A man gets hit with a $30,000 bill for ACL reconstruction surgery. People around the country receive Covid-19 test bills ranging from a few dollars to more than $1,000—and to make things worse, they aren’t supposed to receive a bill, anyway.
Surprise billing in healthcare is a nightmare, and it happens all the time. It takes a severe emotional toll, as well as a monetary one. Nearly 30 million Americans
Read More
8 Key Healthcare Revenue Cycle Benchmarks to Increase Productivity
What You Should Know:
- AKASA™, an automation company for healthcare revenue cycle management, released a report titled, “New Productivity Benchmarks For The Healthcare Revenue Cycle" that includes the first-ever publication of the average time it takes health system staff to complete critical tasks within revenue cycle operations based on AKASA’s proprietary data.
- These revenue cycle management benchmarks are some of the first for the revenue cycle industry and accurately forecast how
Read More
Healthcare Automation Most Urgent Need to Improve Patient Care, Report Finds
What You Should Know:
Half of the healthcare administrative staff report seeing an increase in the amount of manual data entry in the past 12 months — and 92% of clinicians agree that too much time spent on administrative tasks is a major contributor to healthcare worker burnout. This and other findings are revealed in the new Internet of Healthcare Report, produced by independent research firm Wakefield Research on behalf of Olive. The report uncovers how 1,700 patients, healthcare
Read More
Edifecs Acquires Talix to Expand Risk Adjustment Solution
What You Should Know:
- Edifecs, a global health IT provider announced it is acquiring Talix, a SaaS IT company, to expand Edifecs’ reach in the encounter management and risk adjustment space. Financial details of the acquisition were not disclosed.
- The integration of Edifecs’ and Talix’s technologies will create an expanded risk adjustment solution with critical workflows and insights that improve efficiencies and directly support payer and provider collaboration.
Talix
Read More
Zelis Acquires Healthcare Transparency Leader Sapphire Digital
What You Should Know:
- Bain-backed digital health payments company, Zelis today announced the acquisition of Sapphire Digital, a healthcare consumer-centered pricing and navigation software company serving more than 100M members. Financial details of the acquisition were not disclosed.
- Sapphire’s platform offers tools for provider search and selection, quality ratings and reviews, pricing data, cost calculators, and more to help consumers find the lowest cost and highest quality care
Read More
TransUnion Explores Sale of TransUnion Healthcare, Sources Say
What You Should Know:
- Credit reporting agency TransUnion is currently evaluating the sale of its revenue cycle management subsidiary, TransUnion Healthcare, PE Hub first reports.
- Sources report TransUnion Healthcare at an initial valuation of $1.9B to $2.2B with approximately $100M of earnings before interest, taxes, depreciation, and amortization (EBITDA).
- TransUnion Healthcare makes mutual trust possible between patients, providers, and payers by helping them navigate payment
Read More
How Digitizing AP Can Pay Dividends to Healthcare Organizations
Innovations in telehealth and other forms of remote care have dominated the tech focus of many healthcare organizations over the last year. But behind the scenes, business process automation has also been a big area of attention as CFOs look for new ways to reduce costs without impacting patient care. According to a Deloitte 2020 survey, cost reduction was an increased strategic priority for 83% of healthcare CFOs.
One of those cost reduction areas is Accounts Payable (AP). Recent
Read More
