What You Should Know:
- Today, healthcare automation company Olive, today announced a $400M in funding round led by Vista Equity Partners with additional investment from the Base10 Partners Advancement Initiative. Olive, a provider of AI powered workforce purpose-built for healthcare, has now secured $832 million in financing since March 2020, and $902 million since the company’s inception in 2012 bringing the company’s total valuation to $4 billion.
- The company plans to use
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
RCM: How Coding Gray Areas Skew Healthcare Data
Clinical reality, the ICD-10-CM classification system, and considerations of reimbursement are three distinct worlds that are sometimes in conflict. We don’t like it when financial considerations intrude on the purity of coding, but there’s no escaping this intrusion when coding serves as both the representation of the clinical picture in healthcare data and as the basis for reimbursement.
Sepsis Definitions at Odds
Sepsis provides a great illustration of a coding gray area that can
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AI + Human Intelligence — A More Effective Solution for the Healthcare Payment Lifecycle
Much has been written about the advent of Artificial Intelligence (AI) in the healthcare payment lifecycle, but has it been oversimplified? The straightforward answer is yes.
Many articles have characterized AI as the end-means antidote that will solve all revenue cycle management (RCM) issues and easily streamline the reimbursement process from beginning to end. In fact, many of the products in today’s marketplace promise a complete solution based almost entirely on AI. But, looking at this
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Iodine Acquires Clinical Documentation Solution ChartWise – Health M&A
What You Should Know:
- Iodine Software, a healthcare AI company, today announced it has acquired clinical documentation integrity company ChartWise Medical Systems. Financial details of the acquisition were not disclosed.
- The acquisition comes just two weeks after Iodine completed an acquisition of Artifact Health, a mobile-based physician query platform that was in 300+ hospitals. Now, after both acquisitions, Iodine will now support more than 800 of top U.S. health systems,
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TailorMed Nabs $20M for Patient Financial Navigation Platform, Backed by Providence Ventures
What You Should Know:
- TailorMed Medical Ltd., a New York City-based patient financial navigation technology company, today announced a $20 million investment led by Providence Ventures. The round included new investors UnityPoint Health Ventures, Almeda Ventures, Bridges Israel and Discount Capital with participation from existing investors Accelmed, Sanara Ventures and Triventures.
- Founded in 2016, TailorMed is focused on ensuring patients get the care they need in a difficult
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33% of Hospital Execs Reported Average Denial Rates of More than 10%
What You Should Know:
According to a recent survey of over 130 hospital executives across the nation, the average denials rate is between 6% and 13%, and over 1/3 of hospital reimbursement executives surveyed responded that their organizations are nearing the denials danger zone of 10%.
The key findings from Harmony Healthcare reflects the need for stronger denials prevention and recovery solutions. Research shows that approximately 85% of denials are preventable, but
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Olive, ASUS Partner to Bring AI-Assisted Medical Coding to 775+ Hospitals
What You Should Know:
- Olive and ASUS announced their partnership to bring AI-assisted medical coding to over 775 U.S. hospitals. Olive will bring ASUS Miraico, the AI medical coding assistant, to healthcare providers via the Olive Helps platform.
- The addition of Miraico to the Olive Helps system will allow the AI to analyze clinical terms in medical records
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Iodine Software Acquires Physician Query Platform Artifact Health – Health M&A
What You Should Know:
- Iodine Software, a leading healthcare AI company, today announced it has acquired physician engagement platform company Artifact Health. Financial details of the acquisition were not disclosed.
- The acquisition brings together two industry leaders and expands Iodine’s clinical predictions and insights platform beyond clinical documentation improvement (CDI) teams to directly engage physicians through Artifact’s HIPAA-compliant mobile platform.
- Artifact
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Tegria Acquires Rev Cycle Management Firm Colburn Hill Group – M&A
What You Should Know:
- Tegria today announced it has acquired Colburn Hill Group, a revenue cycle management firm with technologies that have helped healthcare providers tackle some of their most difficult RCM challenges. Financial details of the acquisition were not disclosed.
- A centerpiece of the acquisition is Colburn Hill’s Ops Center RCM platform, which integrates analytics and process automation technology to increase efficiency and eliminate wasteful manual
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Mednax Taps R1 for Enterprise Revenue Cycle Management Services
What You Should Know:
- R1 RCM Inc., a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, and Mednax, Inc., a national medical group specializing in prenatal, neonatal and pediatric services, have entered into an agreement that will make R1 the primary provider of enterprise revenue cycle management services for Mednax.
- The agreement is expected to bolster the overall patient experience and optimize
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