Olive Launches In-House Venture Studio for Digital Health Startups What You Should Know: - Olive, the $4B healthcare automation company, today announced Olive Ventures, a new in-house venture studio that works hand-in-hand with early-stage entrepreneurs to create digital health companies through Olive’s platform. - Olive Ventures offers visionaries a secure, compliant tech environment (i.e. Olive’s tech stack) that’s designed to rapidly validate, deploy, distribute and
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Robotic Process Automation (RPA)
Provider Adoption of Automated Revenue Cycle Operations On The Rise
What You Should Know: - 78 percent of health systems are currently using or are in the process of implementing automation in their revenue cycle operations, according to recent survey results from AKASA, a South San Francisco-based revenue cycle management automation company. The key findings signal automation in healthcare is no longer an emerging trend but is mission-critical for driving efficiency and cost-effectiveness in revenue cycle operations. - According to the
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Olive Selects AWS as Its Preferred Cloud Provider to Create the Internet of Healthcare
What You Should Know: - Olive, the AI healthcare company, announced today the adoption of Amazon Web Services, Inc. (AWS) as its preferred cloud provider, now leveraging AWS’s computing capabilities to improve healthcare efficiency and reduce costs for patients and organizations. - Olive’s workflow automation solution will run on AWS to connect the disparate systems used by healthcare organizations to help automate and optimize administrative tasks for healthcare providers, freeing them to
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Kareo Acquires RPA-Powered Medical Billing Provider PatientlySpeaking
What You Should Know: - Kareo, a provider of cloud-based clinical and business management software solutions for independent healthcare practices and billing companies, today announced the acquisition of PatientlySpeaking, a process automation technology company for billing companies and medical practices. - Together with Kareo’s intuitive billing platform, PatientlySpeaking provides an integrated data connection for billing companies and medical practices to automate redundant daily tasks
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Olive Enters Clearinghouse Market with Acquisition of Healthcare IP
What You Should Know: - Olive, a healthcare automation company today announced the acquisition of Healthcare IP, an integrated partner of healthcare provider and payer organizations, advocating data transparency and user experience in the revenue cycle. Financial details of the acquisition were not disclosed. - Healthcare IP is a clearinghouse that has been streamlining payment management since 2013 for top hospitals and health systems across the United States to help manage their
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Olive Secures $400M At A $4B Valuation to Support New Instant Claim Payment Solution
What You Should Know: - Today, healthcare automation company Olive, today announced a $400M in funding round led by Vista Equity Partners with additional investment from the Base10 Partners Advancement Initiative. Olive, a provider of AI powered workforce purpose-built for healthcare, has now secured $832 million in financing since March 2020, and $902 million since the company’s inception in 2012 bringing the company’s total valuation to $4 billion. - The company plans to use
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Tegria Acquires Rev Cycle Management Firm Colburn Hill Group – M&A
What You Should Know: - Tegria today announced it has acquired Colburn Hill Group, a revenue cycle management firm with technologies that have helped healthcare providers tackle some of their most difficult RCM challenges. Financial details of the acquisition were not disclosed. - A centerpiece of the acquisition is Colburn Hill’s Ops Center RCM platform, which integrates analytics and process automation technology to increase efficiency and eliminate wasteful manual
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How Yale-New Haven Uses IPA in Revenue Cycle to Tackle Inefficiency
As the pandemic heads toward a second year with no further financial stimulus guaranteed, hospitals and health systems are seeking ways to reduce costs and improve revenue cycle performance. Intelligent process automation (IPA) is an emerging solution designed to optimize operations and increase productivity through a combination of process modeling, process automation, and artificial intelligence. IPA in the revenue cycle enables healthcare organizations to shift manual, repetitive work to
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Baptist Health Implements First-of-its-Kind ED to PCP Referral Automation
What You Should Know: - Baptist Health deploys first-of-its-kind conversational digital assistant powered by LifeLink for patients who are discharged from the Emergency Department (ED) with referrals. - Since launch, the conversational chatbot solution, which engages patients with mobile messaging to recommend follow-up care, the number of PCP appointment requests have increased by 15%. The technology is integrated into Cerner and Salesforce, personalizing the patient experience by
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R1 and Automation Anywhere Team Up to Apply Enhanced AI to Revenue Cycle Management
R1, a provider of revenue cycle management (RCM) services is teaming up with Automation Anywhere to incorporate their Robotic Process Automation (RPA) technologies into the healthcare revenue cycle. This move supports the industry’s call for digital transformation across hospitals, health systems and physician practices alike. Benefits of Applying AI in Revenue Cycle ManagementR1’s technology solutions currently leverage RPA, driving improved results for its clients, such as increasing net
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