AI technology is quickly evolving and already surpassing human decision-making in certain instances; sometimes, in ways, we can’t explain. While many are alarmed by this, AI is producing some of the most effective and dramatic results in business today. Adoption of AI in healthcare is growing, but there are still barriers to overcome AI can be defined in many ways but, broadly, it is the ability of a machine to perform cognitive functions we associate with human minds, such as
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Revenue Cycle| Healthcare Finance | Policy, News, Analysis, Insights - HIT Consultant
Omega Healthcare Acquires himagine Solutions to Expand Global Delivery Model
What You Should Know: - Omega Healthcare, a provider of outsourced revenue cycle management and other healthcare support services, today announced the acquisition of himagine Solutions, a St. Louis based provider of medical coding and registry services. The transaction expands the service capabilities and geographical footprint of both companies, enhancing the ability to service clients globally. - Through this acquisition Omega Healthcare will be
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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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Greenway Health Launches Customizable RCM Solution
What You Should Know: - Greenway Health announced the launch of its new Greenway Revenue Services offering, GRS Select™, a customizable revenue cycle management (RCM) offering designed to meet the unique, individualized needs of healthcare practices as they rebuild and improve the profitability of their practices a year after the onset of the COVID-19 pandemic. - In contrast to most RCM services, Greenway Revenue Services partners with practices’ current staff to help them improve
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How to Optimize Your Healthcare Practice with Advanced Technology Solutions
As COVID-19 continues to influence patient behaviors and causes providers to reevaluate how they operate their businesses, healthcare practices all around the world started looking for solutions that emphasize clinical efficiencies, elevate patient revenue cycle management, as well as feature enhanced reporting, and analytics tools. More so, along with facing challenges of the patient intake process during a pandemic, providers have also been put to the test with learning how to meet the sudden
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11 Best Practices of a Successful Care Model Transformation Plan
Health systems across the country will require a plan to react to government deep spending cuts and revenue shortfalls due to the COVID-19 pandemic. Hospital services have seen a significant downturn in demand in 2020, and the recent resurgence in cases has led to further decreases. The public health emergency has also resulted in innovation, most notably telehealth, which has been granted temporary pay parity during the pandemic. Still, hospitals and health systems face a year of losses, but
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Vytalize Health to Acquire Patient Financial Experience Platform MedPilot
What You Should Know: - Vytalize Health to acquire patient financial experience platform MedPilot to accelerate data-driven engagement technology to its ACO's Medicare population. - An alumnus of the Cedars-Sinai Accelerator, MedPilot’s platform has already helped over 1 million patients to date and boasts a 97% patient satisfaction score. Vytalize Health, a leading provider of value-based healthcare announced it is acquiring MedPilot, a Cleveland-based patient financial
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Can AI Pave the Path to Reducing Physician Burnout?
The timing couldn’t be more critical for us to start making serious headway to reduce the growing problem of burnout among America’s physicians. In 2018, physician burnout was already at an alarming 42%, but that number is growing as COVID-19 cases surge around the country. While we are at a hopeful place in the virus’ trajectory with millions of vaccinations administered, the reality – even once we get through the pandemic – is quite grim for physicians and their
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Epic, Galen Healthcare, Chartis Group Named 2020 Overall Best in KLAS Awards
What You Should Know: - Epic was named the top Overall Software Suite for the eleventh consecutive year in the Best in KLAS 2021 Software & Services report, released today, which reports on the top vendors for 2020. Epic was also named the top Overall Physician Practice Vendor. Galen Healthcare Solutions was named the top Overall IT Services Firm. The Chartis Group earned the award of top Overall Healthcare Management Consulting Firm, edging out last year’s winner,
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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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