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AKASA Raises $60M to Automate Revenue Cycle Operations for Health Systems

by Jasmine Pennic 03/23/2021 Leave a Comment

AKASA Raises $60M to Automate Revenue Cycle Operations for Health Systems

What You Should Know: - AKASA (formerly known as Alpha Health), a South San Francisco, CA-based Unified Automation™ company for revenue cycle management in healthcare, announced it has raised $60 million in its series B round of funding. - Founded in 2018, AKASA uses the same machine learning approaches that made driverless cars possible to provide health systems with a single solution for automating revenue cycle operations. AKASA’s unique expert-in-the-loop approach combines modern
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How Automation is Key to the Future of Healthcare Operations

by Giri Rajaiah, Executive Leader, Vice President, Healthcare & Life Sciences, DISYS 01/27/2021 Leave a Comment

How Automation is Key to the Future of Healthcare Operations

As the saying goes, necessity is the mother of invention. A similar correlation is seen in the quest to leverage innovation and out-of-the-box thinking to address key problems facing the healthcare industry. The ongoing COVID-19 pandemic has brought the immense pressure the U.S. healthcare system is under into sharp focus. Recent dynamics are compounded by the industry’s efforts to adopt newer ways of working and digitizing patient records, while implementing automation throughout their business
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Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results

by Sean Barrett, Senior Vice President, Product and Digital Transformation, R1 RCM 01/25/2021 Leave a Comment

Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results

Healthcare provider networks are experiencing enormous pressure to manage financial margins and invest in contactless patient experiences. With overall financial losses projected to exceed $323 billion as a result of COVID-19, a projected $200 billion in administrative waste due to revenue cycle inefficiencies, and increasing pressure to meet digital consumerism demands, it is essential for health systems to find ways to streamline processes, maximize their revenue cycles and cut costs. These
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Hospital Sustainability Demands that Revenue Integrity Move Front and Center

by Vasilios Nassiopoulos, VP of Platform Strategy and Innovation, Hayes 11/23/2020 Leave a Comment

Hospital Sustainability Demands that Revenue Integrity Move Front and Center

Razor-thin operational margins coupled with substantial and ongoing losses related to COVID-19 are culminating in a perfect storm of bottom-line issues for U.S. hospitals and health systems. A study commissioned by the American Hospital Association (AHA) found that the median hospital margin overall was just 3.5% pre-pandemic, and projected margins will stay in the red for at least half of the nation’s hospitals for the remainder of 2020.  The reality is that an increase in
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Cedar Joins Epic App Orchard to Enable Patient-First Billing Experience in MyChart

by Jasmine Pennic 10/13/2020 Leave a Comment

Cedar Joins Epic App Orchard to Enable Patient-First Billing Experience in MyChart

What You Should Know: - Patient financial engagement platform Cedar announced the availability of its patient billing solution, Cedar Pay in the Epic App Orchard marketplace. - Cedar engages patients through a frictionless billing experience that is embedded in MyChart using single sign-on. By tailoring in-app messaging and balance resolution workflows. Cedar, a leading patient financial engagement platform, today announced that Cedar Pay, its flagship patient billing solution, is
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A Matter of Trust: 3 Tips for Outsourcing Out-of-Pocket Support

by Sue Czubala, Chief Client Success Officer, AccessOne 02/03/2020 Leave a Comment

A Matter of Trust: 3 Tips for Outsourcing Out-of-Pocket Support

The cost of family health coverage topped $20,000 this year—as much as an economy car. As consumers shoulder higher out-of-pocket costs than ever, health systems are bracing for the impact.  A recent survey found that while 81 percent of healthcare leaders say rising consumer responsibility will affect revenue, leaders of larger organizations are even more concerned about the toll on finances: - 33 percent of health system executives believe increased consumer responsibility will have a
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R1 Expands Revenue Cycle Management Offering to More Medical Groups

by Jasmine Pennic 01/22/2020 Leave a Comment

R1 RCM, End-to-End Revenue Cycle Management Services Phreesia Partner to Provide Seamless Front-End Patient Experience

- R1 announced an expansion of its revenue cycle management services, making them available to large independent practices and hospital-owned groups.- Now groups beyond hospitals and health systems will be able to use R1’s industry-leading RCM tools designed to enable the best quality clinical care and financial expectation setting for even more patients.- This new slate of provider organizations and patients will also benefit from R1’s recent acquisition of SCI, offering access to the broadest
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RUSH Taps R1 for End-to-End Revenue Cycle Management, Value-Based Care Innovation Lab

by Fred Pennic 01/10/2020 Leave a Comment

Rush University Medical Center Taps R1 for End-to-End Revenue Cycle Management, Innovation Lab

- R1 RCM and Rush University Medical Center (RUSH) announce a new end-to-end revenue cycle management partnership to achieve revenue cycle performance excellence and accelerate innovation in healthcare. - The two will also collaborate to launch an innovation lab that will focus on delivering value-based care, incorporating advanced analytics to help to educate other healthcare institutions and preparing the healthcare workforce of the future.   Rush University System for Health (RUSH) has
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Partners HealthCare Launches $100M, 5-Year Digital Health Initiative to Reshape the Patient Experience

by Jasmine Pennic 12/12/2019 Leave a Comment

Partners HealthCare Launches 5-Year Digital Health Initiative

- Partners HealthCare launches $100M, five-year digital health initiative focused on patient experience, clinical transformation, scaling research and development, and streamline hospital operations. - The digital health initiative will incubate innovative programs under development with the goal of expanding programs that show provider adoption and patient impact.Partners HealthCare today announced it has launched a five-year digital health initiative to improve the patient experience, boost
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Providers Struggle to Integrate Revenue Cycle Operations with Clinical Operations

by Fred Pennic 10/01/2019 Leave a Comment

Providers Struggle to Integrate Revenue Cycle Operations with Clinical Operations

- Navigant executive survey conducted by HFMA finds providers struggle to integrate revenue cycle operations with clinical operations. - Survey of 108 hospital and health system chief financial officers and revenue cycle executives find 62% suggest EHR adoption challenges have been equal to or outweighed benefits specific to their organization’s revenue cycle performance.- More than 60% of providers struggle to derive optimal value from their electronic health records (EHRs).Only 3% percent of
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