Hospital revenue cycle departments have gained greater visibility in recent years as a significant driver of revenue streams. Yet many of these departments continue to face serious challenges in several areas, including workforce, interoperability, and EHR optimization.Taking revenue cycle management to the next level by harnessing technology and data analytics can help hospitals and health systems track costs and identify opportunities for cost savings, gain efficiencies, and optimize financial
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
CentralReach Acquires Managed Billing Provider Bronco Billing
CentralReach, a provider of practice management software for ABA clinicians and educators, has recently acquired Bronco Billing, giving customers access to a team of billing experts to expedite the billing process and maximize revenue. The acquisition is an expansion of the existing partnership between Bronco Billing and CentralReach allowing customers to improve their billing process through auto-generated claims, receivables collections, payments, and denial re-submissions, so they can spend
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3M to Acquire M*Modal’s Technology Business for $1B
3M announced a definitive agreement to acquire the technology business of M*Modal, for a total enterprise value of $1 billion dollars. M*Modal is a healthcare technology provider of cloud-based, conversational Artificial Intelligence (AI)-powered systems that help physicians efficiently capture and improve the patient narrative so they can spend more time with their patients and provide a higher quality of care.M*Modal Acquisition DetailsAs part of the acquisition, 3M will maintain a strategic
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2018 Patient Access Journey Report: 6 Patient Access Trends to Watch
The annual survey from Kyruus Highlights patient access trends & opportunities for health systems to differentiate with a comprehensive and cohesive patient access strategy. Within a relatively short number of years, patient experience has become a top priority for many healthcare organizations as consumerism continue to grow in healthcare. However, with so many players involved in delivering patient care, health systems are at a disadvantage relative to organizations in other industries
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Revenue Cycle Startup Medpilot Nabs $1.7M to Expand Patient Financial Engagement Platform
MedPilot, a patient financial engagement platform working with outpatient facilities, hospitals, revenue cycle management companies, and practice management systems, announced it has raised $1.7 million in funding led by Hudson River Capital Partners, Valley Growth Ventures, Cedars-Sinai, TechStars, and investor Tom Hirschfeld. MedPilot’s will use the latest round of funding to further bolster their team and roll out additional new functionality in their patient financial engagement platform for
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Revenue Leakage: How Big Data Can Address Challenging Denials at Academic Medical Centers
It’s no secret that many hospitals find themselves in faltering fiscal health lately. According to the Harvard Business Review, since the start of 2016, some of the nation’s top hospitals have lost hundreds of millions of dollars of income.These challenges can be especially pressing for academic medical centers (AMCs), who process a large volume of complex, high-ticket medical claims and generate revenue from direct patient care.Today, AMCs are finding themselves less insulated from changes in
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R1 and Automation Anywhere Team Up to Apply Enhanced AI to Revenue Cycle Management
R1, a provider of revenue cycle management (RCM) services is teaming up with Automation Anywhere to incorporate their Robotic Process Automation (RPA) technologies into the healthcare revenue cycle. This move supports the industry’s call for digital transformation across hospitals, health systems and physician practices alike. Benefits of Applying AI in Revenue Cycle ManagementR1’s technology solutions currently leverage RPA, driving improved results for its clients, such as increasing net
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Today’s Behavioral Health Providers are Failing: Why Data Analytics is the Solution
Today, behavioral health is more important than ever. Major news outlets, from The New York Times to The Wall Street Journal, constantly cover the mental health epidemics wracking the nation, be it widespread opioid abuse or the steady, upward creep of suicide and self-harm.Spurred on by the scope and severity of these societal problems (as well as new legislation passed to address them), the behavioral health sector has grown exponentially. Yet this field is not without its problems: despite
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Oncology Analytics Raises $21M to Provide Health Plans With Evidence-Based Analytics for Utilization Management
Oncology Analytics, an Atlanta-based digital health startup that provides health plans, providers and patients with an evidence-based, analytics focused approach to utilization management for oncology, today announced it has raised $21 million in Series B funding. The Series B round was led by Oak HC/FT and was joined by new investor McKesson Ventures along with returning investors Blue Cross Blue Shield Venture Partners and Sandbox Advantage Fund. The startup plans to use the capital to expand
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Patient Leakage Trends: Understanding the Gap Between Priority and Action
The vast majority of healthcare executives recognize the importance of referral management; however, their ability to analyze and address patient leakage lags behind, according to a new survey conducted by Fibroblast, a referral management platform. The survey reveals almost a quarter (23%) of healthcare executives do not even track patient leakage at all. All this despite almost 9 in 10 who say it’s a priority.Survey Report BackgroundHealthcare organizations have many strategic priorities, but
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