As we learn to equilibrate with COVID-19, we are collectively learning how to modulate our acceptance of risk in order to re-emerge and engage with the world around us. It has at times over the course of the pandemic been a necessary choice, oftentimes in the name of risk, to forgo routine healthcare. Our avoidance of more routine prevention and health maintenance activities to minimize exposure and taxation of health systems has unfortunately increased other health risks, particularly risks
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Israeli Startup TailorMed Acquires Vivor to Create Provider and Pharmacy Network
What You Should Know: - Financial navigation technology company TailorMed acquires Vivor to create the largest provider and pharmacy network. - The combined companies will offer the most comprehensive solution for addressing unprecedented financial pressures on patients and healthcare organizations. Israeli startup TailorMed, a leading financial navigation technology company that helps healthcare organizations and patients remove financial barriers to care in the U.S acquires
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Time is Money in Healthcare Administration. How Much Are You Losing?
Administrative complexity is a billion-dollar problem, riddled with human-led, hand-done steps that simply don’t need to exist. In a given year, approximately a quarter to one-third of our healthcare spending comes from waste across the system. Sometimes, the cause of money waste is obvious, such as duplicated tests, misdiagnosis, extended ER stays, overtreatment, or failures in care coordination. The less obvious contributor: time. Time is wasted at nearly every step of the
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Healthcare Financial Assistance Transactions Increases by 55%, TransUnion Healthcare Survey Reveals
What You Should Know: - The number of financial assistance transactions processed by TransUnion Healthcare increased 55% between September 2020 and September 2021, according to a new analysis from TransUnion Healthcare released at the HFMA Annual Conference indicates hospitals are more proactively working with patients to understand their financial needs and provide appropriate options. - The data reflect millions of financial assistance transactions, from more than 1,000 hospitals and
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Notable Secures $100M to Expand Intelligent Automation in Healthcare
What You Should Know: - Notable, a San Mateo, CA-based leader in healthcare intelligent automation, today announced it has raised $100M in Series B funding led by ICONIQ Growth, including participation by Greylock, F-Prime Capital, and Oak HC/FT to accelerate growth and innovation within the healthcare industry. - The company plans to use the new round of funding to pioneer a novel intelligent automation approach for healthcare with the mission of reducing administrative burden
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Is the Smartphone Key to Unlocking Frictionless Patient Registration?
Since the beginning of healthcare’s digital revolution, organizations have been striving to achieve the Triple Aim of healthcare: better outcomes, lower costs, and improved patient experiences. While reimbursement reforms and regulatory actions have helped realize measurable gains in population health and overall spending, progress on the patient experience piece hasn’t always been as clear-cut. Firstly, patient satisfaction is a hard concept to quantify. And the
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How Hospitals Can Help Patients Meet Financial Obligation While Driving Revenue Excellence
Medical debt in the US has reached crisis proportions. According to a recent study published by JAMA Network, unpaid healthcare bills are one of the largest sources of debt for Americans, reaching $140 billion last year. The impact is not limited to patients. Healthcare providers are feeling the pinch as well. On average, uncompensated care accounts for approximately 8% of a hospital’s expenses. The inability to pay medical bills is strongly correlated with a lack of
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Anomaly Secures $17M to Expand Precision Payment Platform to Improve Payment Accuracy
What You Should Know: - Anomaly, a precision payments platform using artificial intelligence (AI) to improve payment accuracy in the healthcare industry, today announced $17M in series A and seed funding. The series A was led by RRE Ventures and included participation from Link Ventures and existing investors Madrona Venture Group, Declaration Partners, and Redesign Health. - Anomaly plans to use today’s funding to grow its team, invest further in product development, and expand its market
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Northwell Selects Cedar to Deliver Personalized Financial Experience
What You Should Know: - Northwell Health, the largest health system in New York State, and Cedar, a market-leading healthcare financial technology platform, today announced a collaborative relationship to improve the financial experience for 2 million patients across Northwell’s 23 hospitals and various facilities. - Northwell will leverage Cedar Pay, Cedar’s post-visit patient engagement and payment platform, delivers a more streamlined patient
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Rev Cycle Company Ensemble Health Partners Files to Go Public
What You Should Know: - Ensemble Health Partners, Inc. (“Ensemble”), a provider of healthcare revenue cycle management solutions for hospitals and affiliated physician groups, announced it has filed to raise $649M for its initial public offering (IPO), at a valuation of $1.2B. - Ensemble is offering 29,500,000 shares of its Class A common stock at an initial public offering price between $19 and $22 per share. It also intends to grant the underwriters a 30-day option to
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