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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant

Can AI Pave the Path to Reducing Physician Burnout?

by Abboud Chaballout, Founder of Diagnoss 02/11/2021 Leave a Comment

Can AI Pave the Path to Reducing Physician Burnout?

The timing couldn’t be more critical for us to start making serious headway to reduce the growing problem of burnout among America’s physicians. In 2018, physician burnout was already at an alarming 42%, but that number is growing as COVID-19 cases surge around the country.  While we are at a hopeful place in the virus’ trajectory with millions of vaccinations administered, the reality – even once we get through the pandemic – is quite grim for physicians and their
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Healthcare Can Save $16.3B Automating Administrative Transactions, Report Finds

by Jasmine Pennic 02/05/2021 Leave a Comment

Healthcare Can Save $16.3 Billion Automating Administrative Transactions, Report Finds

What You Should Know: - Each year, the US healthcare industry spends $39 billion on 9 administrative transactions, according to a new report from CAQH. - The 2020 CAQH Index also uncovered that by automating these transactions, the industry could save $16.3 billion annually--a 42% cost reduction. CAQH, released the eighth annual report measuring the progress made by healthcare payers and providers in automating administrative transactions. The 2020 CAQH Index found that, of
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HealthTensor Secures $5M to Scale AI-Powered Medical Diagnosis Platform

by Fred Pennic 02/02/2021 Leave a Comment

HealthTensor Secures $5M to Scale AI-Powered Medical Diagnosis Platform

What You Should Know: - HealthTensor, an LA-based startup that uses AI to ensure no medical diagnoses are overlooked, has raised $5 million to scale operations. - To date, HealthTensor has helped physicians write more than 2,000 notes and has identified overlooked medical conditions in 95% of cases. HealthTensor, an LA-based artificial intelligence digital health startup that is creating software to help augment medical decision making, announced today that it has raised a $5 million
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How Automation is Key to the Future of Healthcare Operations

by Giri Rajaiah, Executive Leader, Vice President, Healthcare & Life Sciences, DISYS 01/27/2021 Leave a Comment

How Automation is Key to the Future of Healthcare Operations

As the saying goes, necessity is the mother of invention. A similar correlation is seen in the quest to leverage innovation and out-of-the-box thinking to address key problems facing the healthcare industry. The ongoing COVID-19 pandemic has brought the immense pressure the U.S. healthcare system is under into sharp focus. Recent dynamics are compounded by the industry’s efforts to adopt newer ways of working and digitizing patient records, while implementing automation throughout their business
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Medsphere Acquires Healthcare Relationship Management Platform Marketware

by Fred Pennic 01/25/2021 Leave a Comment

Medsphere Acquires Healthcare Relationship Management Platform Marketware

What You Should Know: - Medsphere, a provider of affordable clinical IT systems and support services announced it has acqauired healthcare relationship management and analytics company Marketware. Medsphere Systems Corporation today announced the acquisition of Marketware, Inc., a leading developer of robust software tools focused on managing healthcare relationships and analyzing a wide variety of data to augment existing competitive advantage. The Marketware suite supports hospitals
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Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results

by Sean Barrett, Senior Vice President, Product and Digital Transformation, R1 RCM 01/25/2021 Leave a Comment

Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results

Healthcare provider networks are experiencing enormous pressure to manage financial margins and invest in contactless patient experiences. With overall financial losses projected to exceed $323 billion as a result of COVID-19, a projected $200 billion in administrative waste due to revenue cycle inefficiencies, and increasing pressure to meet digital consumerism demands, it is essential for health systems to find ways to streamline processes, maximize their revenue cycles and cut costs. These
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4 Quick Tips for Getting COVID-19 Claims Paid Promptly

by Lillian Phelps, Sr. Director of Product Management, Availity 01/07/2021 Leave a Comment

4 Quick Tips for Getting COVID-19 Claims Paid Promptly

As the COVID-19 pandemic has gripped the world, many providers have adopted an all-hands-on-deck approach and mentality for treating COVID-19 patients, stretching their resources to the breaking point.  We have heard about the frontline heroes who have sacrificed their own health and safety to treat patients and, in less-fortunate scenarios, comfort patients in their last moments as they were quarantined from loved ones.  What has been less recognized is the work and sacrifice
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UnitedHealth Group Acquires Change Healthcare to Combine with OptumInsight for $13B

by Fred Pennic 01/06/2021 Leave a Comment

Change Healthcare Acquires Credentialing Tech Docufill to Improve Administrative Efficiency

What You Should Know: - UnitedHealth Group has reached an agreement to acquire Change Healthcare in a deal valued at more than $13 billion, marking the first major acquisition of 2021. - Change Healthcare will be combined with OptumInsight to advance a more modern, information, and technology-enabled healthcare platform. UnitedHealth Group’s has reached an agreement to acquire healthcare technology leader Change Healthcare for more than $13B. As part of the acquisition,
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2020’s Top 20 Digital Health M&A Deals Totaled $50B

by Fred Pennic 12/31/2020 Leave a Comment

2020’s Top 20 Digital Health M&A Deals Totaled $50B

Teladoc Health and Livongo Merge The combination of Teladoc Health and Livongo creates a global leader in consumer-centered virtual care. The combined company is positioned to execute quantified opportunities to drive revenue synergies of $100 million by the end of the second year following the close, reaching $500 million on a run-rate basis by 2025. Price: $18.5B in value based on each share of Livongo will be exchanged for 0.5920x shares of Teladoc Health plus cash consideration of
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Gleaning Insights for COVID-19: Why Claims and Clinical Data Matter

by Emad Rizk, M.D., President, CEO & Chairman of the Board, Cotiviti 12/15/2020 Leave a Comment

Navigating Healthcare’s Uncertain Future: Three Data-Driven Approaches for Payers

Healthcare organizations continue to rely heavily on data analytics to try to improve COVID-19 outcomes and public health. Since the novel coronavirus became widespread in the U.S., healthcare data scientists have leveraged clinical and claims data to pinpoint which underlying conditions put patients at higher risk of complications from COVID-19. Health systems are mining clinical data to predict surges in COVID-19 cases and looking at key factors—including increases in hospital website traffic,
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