Nym, an Israeli-based autonomous medical coding technology provider announced that it has secured a $6 million seed funding, led by Bessemer Venture Partners. Founded in 2018 by Amihai Neiderman and Adam Rimon, Nym’s automatic medical language understanding technology streamlines the hospital revenue cycle.Traditional Cumbersome Medical Coding ProcessThere are over 250,000 medical coders in the United States today manually reviewing patient charts and assigning the applicable medical codes
Read More
Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Applied Analytics: Making the Dream of Cost-Controlled Population Health a Reality
Ninety percent of a solution is accurately defining the problem, however, in healthcare, much like nearly every other industry, more time and energy is spent on fixing perceived symptoms rather than identifying root caU.S.es.
Today we will explore the contribution that applied analytics has made and continues to make on bending the dramatic U.S. healthcare cost curve. To do this well we will first explore the primary cost drivers (i.e. root caU.S.es), as to why the U.S. spends more on care than
Read More
How Patients Suffer From The Worst Kept Secret in Health IT
Recently, articles in The Atlantic and Fortune highlighted a risk that plagues the healthcare system but is rarely talked about. The in-depth pieces uncover real-life patient stories resulting from mismatched and incorrect patient medical records. These tragic stories unfold in the articles and highlight scenarios that include permanent brain damage in a 5-year old; a cancer scare due to an incomplete radiological history; the missed diagnosis of a fatal brain aneurysm in a 47-year old woman;
Read More
PE Firm Exploring Sale of HealthChannels’ Portfolio of 4 RCM Companies
Vesey Street Capital Partners (VSP), a strategic private equity firm with substantial and differentiated Healthcare Services sector and sourcing expertise is exploring the sale of its portfolio company HealthChannels. With 13,000 employees across 50 states and three countries, HealthChannels is comprised of four highly specialized revenue cycle management companies:- ScribeAmerica, the nation’s most frequently used medical scribe company, with a reach of over 30 million patients through more
Read More
Waystar Acquires Presumptive Charity Scoring Solution PARO
Waystar, a provider of revenue cycle technology, today announced it has acquired PARO, a financial assistance predictive analytics solution designed for the healthcare industry. As part of the acquisition, the PARO solution will be integrated with Waystar’s technology platform to help hospitals better assess charity care, reduce bad debt and meet community benefit requirements.Why PARO?Nonprofit hospitals are required to make reasonable efforts to determine if patients are eligible for financial
Read More
3 Things Patients Want From Their Healthcare Financial Experience
In most healthcare organizations, basic automation is used to complete individual revenue cycle tasks. Seldom, however, is technology used to optimize entire revenue cycle management (RCM) processes and improve the patient financial experience.
The situation is dramatically different outside of healthcare in industries that have long competed for direct consumer dollars.
To book an airline flight, for example, consumers simply open up an app or a website. At their convenience — any time of day
Read More
Apprio Launches New Revenue Cycle Management Division , ApprioHealth
Apprio, a provider of specialized technology solutions for the health, defense, and homeland security markets, today announced it has created ApprioHealth, a new, commercially focused business unit focused on the revenue cycle management requirements of hospitals and health systems. ApprioHealth will be led by Donny Zamora who will serve as the division’s president.ApprioHealth OverviewApprioHealth will deliver services and advanced technology solutions tailored for health organizations’ revenue
Read More
Bon Secours Mercy Health Sells $1.2B Majority Stake in Ensemble Health
Bon Secours Mercy Health sold their 51% majority stake in revenue cycle management company Ensemble Health to Golden Gate Capital, a private equity investment firm. Bon Secours is expected to receive $1.2 billion cash which will be reinvested in Bon Secours Mercy. As part of the agreement, Bon Secours Mercy Health will continue as a commercial partner to Ensemble, as well as remain a minority owner in the Company and continue to serve on the Company's board.Founded in 2014, Ensemble partners
Read More
Baystate Health Taps Artifact Health to Streamline Physician Query Process
Baystate Health, a not-for-profit integrated healthcare system serving over 800,000 people throughout western Massachusetts has selected Artifact Health's mobile query solution to improve workflow for its clinicians and expedite the accurate coding of patient records. Artifact will be rolled out as part of Baystate Health’s strategy to expand Clinical Documentation Improvement (CDI) initiatives across its health system.Transforming Time-Consuming Physician Query ProcessTraditionally, the query
Read More
JPMorgan Chase to Acquire Healthcare Payments Solution InstaMed
JPMorgan Chase & Co., today announced its plan to acquire InstaMed, a Philadelphia-based healthcare payment network provider connecting providers, payers, and consumers on one platform. The acquisition will expand the bank's suite of payment services designed specifically for healthcare consumers, providers, and payers.Why InstaMed?U.S. healthcare spending is over $3 trillion and is challenged by significant transaction friction and inefficiency. Legacy approaches to bill pay, claims
Read More
