Think back to the last time you read a negative review about a restaurant. After reading the review, you probably dismissed the restaurant and considered other places to eat.Now, imagine you’re a patient considering options for an outpatient procedure and you came upon negative reviews about a provider. Chances are, you probably skipped that provider and opted for a consult with someone else. As providers, how can we fix this? Now, more than ever, patient satisfaction matters, especially given
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Change Healthcare Launches Consumer Payment Solution to Transform Their Financial Experience
This week, Change Healthcare unveiled Member Healthcare Payments, a consumer payment solution that enables health plans to display consolidated patient financial information in a single destination, and empower consumers to better understand and manage their healthcare finances. Additionally, Member Healthcare Payments helps health plans better support providers by collecting patient payments, which can eliminate the provider's need to collect those payments.The first health plan to utilize
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DrChrono EHR Integrates with Collectly to Automate Billing & Collections for Practices
DrChrono Inc., the company enabling the medical practice of the future, today announced a new partnership withCollectly, a fellow Y Combinator company that streamlines the billing and collection process for healthcare companies.Collectly digitizes paper bills and works with practices to send patient billing statements and collection notices electronically via text or email. Within the message is a link for patients to go straight to a patient portal to see their statement and instantly make a
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Report: Healthcare Organizations are Seeing Improved Profits from Value-based Care Contracts
46% of healthcare organizations see value-based care contracts improving profitability versus 23% two years ago. Healthcare organizations are more optimistic about how value-based care will affect their finances, according to a poll of accounting and finance employees on a webcast that KPMG hosted. Government spending on healthcare through Medicare, Medicaid, Veterans Administration and other programs have been shifting to value-based payment models in an attempt to improve efficiency and tie
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Solving the Patient Access Labor Supply Challenge
Providers are struggling to stay profitable while also striving to keep patient satisfaction from being negatively impacted. Denials are on an upward trend, payors are becoming tighter around what is demanded of the providers, and patients are being squeezed to pay more out-of-pocket with the ongoing shift to self-pay and high-deductible plans.What many may not realize is that these financial challenges rear their head from the moment the patient walks through the door or schedules an
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HSBlox Unveils AI-Powered EMPI Solution to Ensure Secure Patient ID Matching & Sharing
HSBlox’s new Enterprise-wide Master Patient Index (EMPI) utilizes machine learning to improve patient safety with secure, accurate sharing of patient data throughout the healthcare landscape. HSBlox, a healthcare blockchain-focused company that is bringing innovation and transparent economics to the healthcare ecosystem, today announced the launch of its SmartMPI solution, which utilizes machine learning to provide next-generation patient ID matching and secure, transparent sharing of patient
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Kaufman Hall Unveils Comparative Financial Performance and Analytics Solutions for Healthcare CFOs
Most Chief Financial Officers (CFOs) have limited confidence in the capabilities of their planning and analytical tools, according to Kaufman Hall’s recent CFO Annual Survey. Most organizations are leveraging a combination of tools, including Excel and BI, with varying degrees of success.In order to strengthen their hand, Kaufman Hall introduced today two new products, Strategy Management and Comparative Analytics, to its Axiom Healthcare Software Suite.Axiom Strategy Management provides a
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Cedar Raises $36M for Modern Patient Financial Management Platform
Cedar, the patient financial management platform for hospitals, health systems and independent medical groups, today announced a Series B fundraising round of $36 million, led by the global investment company Kinnevik. Participants in the round include existing investors Founders Fund and Thrive Capital, as well as Lakestar, Sound Ventures, Kevin Systrom of Instagram and Nat Turner of Flatiron Health. Cedar plans to use the funding to further invest in the next generation of its innovative
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R1 RCM Inks 10-Year Contract with Amita Health for End-to-End Revenue Cycle Management
R1 RCM, a provider of revenue cycle management (RCM) services, today announced it has inked a 10-year agreement with AMITA Health, the largest health system in Illinois to provide end-to-end revenue cycle management (RCM) services across AMITA Health’s acute care hospitals and physician care settings. Formed by Adventist Midwest Health and Alexian Brothers Health System in 2015, Amita Health has 19 hospitals and more than 230 sites of care with with approximately $4 billion in annual net patient
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Baker Tilly Launches Revenue Cycle Innovation Center to Optimize Revenue Cycle Operations
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm, today announced a collaboration with Datawatch and Tableau to launch the Baker Tilly Revenue Cycle Innovation Center (RCIC). The RCIC is an end-to-end service offering assists healthcare organizations by providing clear visibility into actionable data for maximizing and managing revenues encompassing all aspects of revenue cycle data analysis, from self-service data preparation to
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