Over the last six years, the U.S. Food and Drug Administration has approved a number of highly innovative medical devices that have revolutionized cardiovascular care. These novel devices have provided advanced treatment options, improved quality of life and extended longevity for patients. Unfortunately, reimbursement has often failed to keep up with many of increasingly expensive treatment options, according to a new report released by Vizient. The report, The cost of medical device
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Revenue Cycle| Healthcare Finance | Policy, News, Analysis, Insights - HIT Consultant
Medsphere Launches Wellsoft Urgent Care EHR, PM/RCM Solution
Medsphere Systems Corporation, a provider of affordable and interoperable healthcare information technology (IT) solutions and services, today announced the launch of their new urgent care EHR solution, Wellsoft Urgent Care. The launch of Wellsoft Urgent Care comes just two months after Medsphere acquired Wellsoft, a Somerset, NJ-based Emergency Department (ED) EHR platform.Wellsoft Urgent Care EHR/PM/RCM Platform OverviewWellsoft Urgent Care’s cloud-based platform features advanced Electronic
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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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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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Why Healthcare Marketers Should Care about the Patient Financial Experience
What comes to mind when you think of health system marketing? For most people, it’s dynamic content on the organization’s latest clinical advancements, philanthropic efforts, wellness management and relationship-building efforts within the community it serves. It’s also understanding patients and their motivations, using consumer research and analysis, focus groups, surveys, and other tools. You probably don’t think about the healthcare billing experience.It’s understandable. Frank discussions
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Top 10 Challenges, Issues and Opportunities for Healthcare Executives in 2019
After 2.5 days of thought leadership discussions during its 30th Anniversary Annual Forum, executive participants of the HealthCare Executive Group (HCEG) voted on and ranked the 2019 HCEG Top 10 critical challenges, issues and opportunities they expect to face in their organizations in the coming year. Background/MethodologyThe rankings were developed in partnership with Change Healthcare and have been published for the last seven years. Executives from the payer, provider, and technology
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Value-based Care Success: 7 Stages of the Health Data Life Cycle
Back in the day – the late 1960s, when social norms and the face of America was rapidly changing – a familiar public service announcement began preceding the nightly newscast. “It’s 10 p.m. Do you know where your children are?” Today, as the healthcare landscape changes rapidly with a seismic shift from the fee-for-service payment model to value-based care models, there’s a similar but new clarion call for quality healthcare: “It’s 2018. Do you know where your data is?”Compliance with the
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Presence Health Taps R1 RCM for End-to-End Revenue Cycle Management
R1 RCM Inc., a provider of technology-enabled revenue cycle management (RCM) services to healthcare providers, today announced that Presence Health based in Chicago, Illinois has selected R1 to provide its end-to-end RCM services across the Presence Health system’s acute care hospitals and physician care settings.Presence Health has more than 150 locations in Illinois, including 10 hospitals. As part of the anticipated agreement to manage Presence Health’s $2.2B annual net patient revenue,
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Navicure, ZirMed Rebrands As Waystar for End-to-End Revenue Cycle Technology
Revenue cycle management providers Navicure and ZirMed, who merged in November 2017, today announced the re-branding of the combined organization under the new name Waystar. The rebranded company Waystar simplifies and unifies the healthcare revenue cycle with innovative technology that empowers clients to collect more with less cost and less stress, so they can focus on their goals, patients, and communities.Waystar brings together the two rev cycle organizations that offers cloud-based,
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How Semi-Integrated Payments Can Save Hospitals
On average, hospitals collect less than 65 cents for every patient-dollar owed. Many hospitals have massive “doubtful accounts,” or accounts that are unlikely to ever produce a dime, amounting to hundreds of millions of dollars. Only a small percentage of these unpaid accounts ever go to collections — the rest are written off as losses.If hospitals are to continue existing, they must make more money than they spend. Unfortunately, the rising cost of healthcare is not helping hospitals recover
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