Sue Czubala, Chief Client Success Officer, AccessOne
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
Read More
R1 Expands Revenue Cycle Management Offering to More Medical Groups
- 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
Read More
RUSH Taps R1 for End-to-End Revenue Cycle Management, Value-Based Care 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
Read More
Partners HealthCare Launches $100M, 5-Year Digital Health Initiative to Reshape the Patient Experience
- 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
Read More
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
Read More
Revenue Leakage: 3 Methods to Revive Your Charge Integrity Program
Rebecca Marsh, VP of Advisory Solutions, nThrive
Many consider a strong charge integrity program the cornerstone and heartbeat of the revenue cycle. Without an effective charge integrity program, health care providers run the risk of revenue leakage.
According to the Healthcare Financial Management Association, “one percent of net patient revenue is lost due to charge capture errors,” which can add up to multi-millions of dollars for health care organizations. Most providers have not
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
Quorum Health Taps R1 RCM for End-to-End Revenue Cycle Management Across 26 Hospitals
Quorum Health Corporation, an operator of general acute care hospitals and outpatient services has selected R1 RCM to provide end-to-end revenue cycle management services across Quorum Health’s portfolio of hospitals and outpatient centers. After conducting a competitive vendor selection, Quorum Health selected R1 and anticipates going live in the second half of 2019.Benefits for Quorum HealthR1’s platform integration with existing infrastructure is expected to improve revenue cycle operations
Read More
PE Firm Considering Options Including Sale of RCM Provider Waystar
Private multi-asset alternative investment firm Bain Capital is reportedly considering options including the potential sale of revenue cycle management (RCM) company Waystar, Bloomberg reports. In 2018, Bain rebranded RCM companies Navicure and ZirMed as Waystar after merging the two companies together in 2017. Waystar Sale Could Value Company At More Than $3BBain has started early-stage discussions about a potential sale that could value the business at more than $3 billion, according to
Read More
Cognizant Acquires Bolder Healthcare Solutions to Expand Revenue Cycle Management Services
Cognizant today announced it has agreed to acquire Bolder Healthcare Solutions, Louisville, KY-based provider of revenue cycle management (RCM) solutions to hospitals, physician practices and other specialist healthcare organizations in the United States. Financial details of the acquisition were not disclosed and is expected to close in the second quarter of 2018.RCM software and processes integrate and automate healthcare administrative and medical data to ensure benefit eligibility and
Read More
