Without much warning, the novel Coronavirus, or COVID-19, has taken over our healthcare system. It has taxed our healthcare workers, our national stockpiles of PPE, and affected millions of Americans nationwide. In addition to healthcare workers on the front lines, the pandemic has also impacted the healthcare revenue cycle, causing major confusion, questions, and inconsistencies as coding specialists learn the latest COVID-19 codes and guidelines at warp speed. With cases rising by the tens of
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
3 Ways to Build a Back-to-Basics Approach to Revenue Cycle Management
Sixty-nine percent of healthcare revenue cycle leaders say they will put more money toward technologies that boost revenue integrity, eliminate human error and unlock greater efficiency in the year ahead, an HFMA/Navigant analysis found. But for many organizations, the biggest untapped opportunity to improve performance comes down to a single word: data.
For all the buzz at about the ways in which digital innovation and automation could transform revenue cycle management, healthcare
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RCM: Boosting Practice Revenue Through Patient Financial Clearance
Medical practices have to balance many things. But one of the biggest balancing acts, which often gets overshadowed by patient care, involves keeping finances in the black, by ensuring revenue cycle management (RCM) flows smoothly. Whether practices are solo independent ventures or large, multi-specialty networks, the struggle is real.
When we discuss the most impactful ways to keep a practice’s bottom line in check — and keep the revenue cycle healthy — most people think of back-office
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Revenue Cycle Startup Rivet Lands $8.25M to Expand Price Transparency Platform
What You Need to Know:
- Revenue cycle management startup Rivet raises $8.25M Series A funding to expand its healthcare price transparency platform.
- The price transparency platform enables providers to give patients upfront pricing with the ability to pay prior to care via text while at the same time helping providers navigate the complex process that grants “in-network” status with insurance companies.
Rivet, a Salt Lake City, UT-based modern healthcare revenue cycle management
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Hospital Execs Believe Their EMRs Will Fail to Meet Their Future Needs, Report Finds
What You Need to Know:
- New Sage Growth Partners report reveals more than a quarter (27 percent) of respondents believe their EMR will fail to meet their future needs. COOs are the most pessimistic (67 percent) followed by CEOs (37 percent), and CFOs (34 percent).
- Hospital Technology Forecast 2020 market survey report reveals hospital leaders’ top health IT investment priorities, challenges, and opportunities.
- 35 percent of hospital executives say if they could go back in time,
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Chilmark Research: The Promise of AI & ML in Healthcare Report
What You Need to Know:
- New Chilmark Research report reveals artificial intelligence and machine learning (AI/ML) technologies are capturing the imagination of investors and healthcare organizations—and are poised to expand healthcare frontiers.
- The latest report evaluates over 120 commercial AI/ML solutions in healthcare, explores future opportunities, and assesses obstacles to adoption at scale.
Interest and investment in healthcare AI/ML tools
is booming with approximately
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CareFirst Will Cover Medically Necessary Diagnostic Tests for COVID-19
What You Need to Know:
- CareFirst BlueCross BlueShield announces steps to expand access to coronavirus (COVID-19) care for its members
- CareFirst will waive prior authorizations for diagnostic tests and for covered services that are medically necessary for any members that are diagnosed with COVID-19.
CareFirst BlueCross BlueShield (CareFirst) announced it is taking action to ensure that its members seeking testing and treatment for coronavirus can swiftly access the right care in
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TransUnion, VisitPay to Provide End-to-End Patient Payment Experience
- TransUnion and VisitPay announce a partnership that aims to improve the patient experience while maximizing revenue for healthcare providers.
- Together, TransUnion Healthcare and VisitPay will improve the patient's financial journey by providing an end-to-end patient payment experience, linking estimation with back-end billing and creating a data-driven feedback loop for providers.
TransUnion announced a partnership with VisitPay, an online patient financial engagement, and revenue
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DrChrono EHR, Cognition IP Partner to Process 5 Machine Learning-based Patents
- DrChrono partners with Cognition IP to draft and file 5 new patent applications related to the company’s core technologies on machine learning.
- DrChrono patents aimed at helping physicians interact with data via machine learning algorithms in its open healthcare platform.
DrChrono Inc., the company developing the
essential platform and services for modern medical practices to make care more
informed, more interactive, and more personalized, partnered with Cognition
IP, a law firm
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Waystar Launches AI/RPA Platform to Automate Revenue Cycle Processes
- Waystar Launches Hubble, an artificial intelligence and automation platform, Hubble that automates revenue cycle processes to help providers collect payment faster and more effectively.
- The platform uses AI to help providers fix outdated and inefficient billing processes -- helping hospitals that are struggling financially, as well as helping patients avoid issues like surprise medical bills, by improving accuracy and price transparency.
Waystar, a Chicago, IL-based provider of
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