revenue cycle

8 Key Healthcare Revenue Cycle Benchmarks to Increase Productivity

What You Should Know: – AKASA™, an automation company for healthcare revenue cycle management,  released a report titled, “New Productivity Benchmarks For The Healthcare Revenue Cycle” that includes the first-ever publication of the average time it takes health system staff to complete critical tasks within revenue cycle operations based on AKASA’s proprietary data. – These …

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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 …

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XFIN Acquires Radiology Revenue Cycle Provider CMS – Health M&A

What You Should Know: – Health IT company XIFIN announced the acquisition of Computerized Management Services (CMS), a provider of comprehensive revenue management services for hospital-based radiology groups and imaging centers. CMS provides a comprehensive suite of outsourced financial services focused on maximizing radiology client revenue and cash flow streams. Its services leverage strong technology systems and analytics, including revenue cycle, strategic consulting, credentialing and coding.  – This …

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Mednax Taps R1 for Enterprise Revenue Cycle Management Services

What You Should Know: – R1 RCM Inc., a leading provider of technology-driven solutions that transform the patient experience and financial performance of healthcare providers, and Mednax, Inc., a national medical group specializing in prenatal, neonatal and pediatric services, have entered into an agreement that will make R1 the primary provider of enterprise revenue cycle …

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Patient Experience 2.0: A Shift in Priorities Defined by A Year of the Pandemic

Tim Dybvig, SVP of Patient Engagement at Experity The COVID-19 pandemic has upended the healthcare continuum within the past year, creating many roadblocks in the path towards high-quality care delivery. Amid these challenges, we have witnessed a significant shift in patient wants and needs, in addition to heightened demand for accessible, convenient clinical care. Notably, …

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Why the Digital Front Door is Critical to the Healthcare Revenue Cycle

Joel French, EVP of Patient Experience at R1 RCM, Inc. The COVID-19 crisis has upended many of our traditional business procedures and processes. However, because digital transformations were well underway before the pandemic, the shift to remote work and contactless consumer self-service was swift. In healthcare, digital strategies that were expected to take 10 years …

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Health2047 Spins Out Emergence Healthcare Group to Empower Independent Physician Practices

What You Should Know: – Health2047, the innovation arm of the American Medical Association, today announced the spinout of a new company, Emergence Healthcare Group, that offers the first turnkey practice solution designed to enable greater physician autonomy by relieving them of administrative burdens and financial pressures intrinsic to today’s private practice. – Emergence Healthcare Group provides …

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Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity

The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response.  Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated.  Over the course of the quarter, we observed $7 billion in private …

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Cardinal Health and Deep Lens Collaborate for AI-based Oncology Clinical Trial Matching

What You Should Know: – Today, Deep Lens and Cardinal Health announced a strategic collaboration that will integrate Deep Lens’ AI-based clinical trial matching solution, VIPER, into community-based oncology practices throughout the Cardinal network. VIPER will be a part of Cardinal Health’s new Navista advanced suite of technology solutions designed to help oncologists improve outcomes, …

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3 Barriers Stalling AI Adoption in Revenue Cycle Management

Kenya Smith, Healthcare Solution Marketing Manager at ABBYY 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 …

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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 …

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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 …

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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. …

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How to Optimize Your Healthcare Practice with Advanced Technology Solutions

Terrence D. Sims, President of Strategic Growth and Marketing, Raintree Systems 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 …

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11 Best Practices of a Successful Care Model Transformation Plan

Moha Desai, Principal, Healthcare Strategy & Transformation  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 …

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Vytalize Health Acquires Patient Financial Experience Platform MedPilot

What You Should Know: – Vytalize Health acquires 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 …

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Can AI Pave the Path to Reducing Physician Burnout?

Abboud Chaballout, Founder of Diagnoss 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 …

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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. …

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How Automation is Key to the Future of Healthcare Operations

Giri Rajaiah, Executive Leader, Vice President, Healthcare & Life Sciences, DISYS 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 …

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Medsphere Acquires Healthcare Relationship Management Platform Marketware

What You Should Know: – Medsphere, a provider of affordable clinical IT systems and support services announced it has acqauired healthcare relationship management and analytics company Marketware. Medsphere Systems Corporation today announced the acquisition of Marketware, Inc., a leading developer of robust software tools focused on managing healthcare relationships and analyzing a wide variety of …

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

Sean Barrett, Senior Vice President, Product and Digital Transformation, R1 RCM 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 …

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Cerner Leadership Changes, Other Key Executives Hires

Travis Dalton Dan Devers Cerner announced some leadership changes promoting long-time associates Travis Dalton to Chief Client & Services Officer and Dan Devers to Chief Legal Counsel. After long, respected, meaningful careers at Cerner, John Peterzalek and Randy Sims will be departing. Cognoa, the leading pediatric behavioral health company developing diagnostic and therapeutic solutions for children living with …

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4 Quick Tips for Getting COVID-19 Claims Paid Promptly

Lillian Phelps, Sr. Director of Product Management, Availity As the COVID-19 pandemic has gripped the world, many providers have adopted an all-hands-on-deck approach and mentality for treating COVID-19 patients, stretching their resources to the breaking point.  We have heard about the frontline heroes who have sacrificed their own health and safety to treat patients and, …

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UnitedHealth Group Acquires Change Healthcare to Combine with OptumInsight for $13B

What You Should Know: – UnitedHealth Group has reached an agreement to acquire Change Healthcare in a deal valued at more than $13 billion, marking the first major acquisition of 2021. – Change Healthcare will be combined with OptumInsight to advance a more modern, information, and technology-enabled healthcare platform. UnitedHealth Group’s has reached an agreement …

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2020’s Top 20 Digital Health M&A Deals Totaled $50B

Teladoc Health and Livongo Merge The combination of Teladoc Health and Livongo creates a global leader in consumer-centered virtual care. The combined company is positioned to execute quantified opportunities to drive revenue synergies of $100 million by the end of the second year following the close, reaching $500 million on a run-rate basis by 2025. …

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Elation Health Nabs $40M for Clinical-First Solution to Power Independent Primary Care

What You Should Know: – Elation Health, which provides an easy-to-use and affordable clinical technology platform for more than 7 million independent primary care clinicians serving 14M+ patients – including an EHR raises $40M in Series C funding from Al Gore’s sustainable investment firm, Generation Investment Management. – Elation’s API-enabled platform also allows organizations to …

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What is Revenue Cycle Management?

There is no question that providers’ bottom line has been hit hard this year, and a new surge in COVID-19 is bound to threaten hospital finances once again. As healthcare providers look to supercharge their payment velocity during these uncertain times, it’s worth taking a step back to examine the revenue cycle management process as …

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Healthcare M&A: DAS Health Acquires Randall Technology Services

What You Should Know: – DAS Health Ventures acquires healthcare and managed IT company Randall Technology Services (RandallTech). – This acquisition adds Allscripts® PM and EHR solutions to the DAS portfolio of supported products, and DAS Health has now added additional staff in Texas that will create opportunities for greater regional support of its entire …

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M&A: CompuGroup Medical Acquires eMDs for $240M

What You Should Know: – CompuGroup Medical (CGM) acquires eMDs, Inc. (eMDs), a leading provider of healthcare IT with a focus on doctors’ practices in the US, reaching an attractive size in the biggest healthcare market worldwide. – CGM is building an attractive platform for future growth through complementary product portfolios and the ability to …

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Hospital Sustainability Demands that Revenue Integrity Move Front and Center

Vasilios Nassiopoulos, VP of Platform Strategy and Innovation, Hayes 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 …

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M&A: Medsphere Systems Corporation Acquires Micro-Office Systems

What You Should Know: – Medsphere acquires Micro-Office Systems (MOS), developer of systems integration and communication tools. MOS will retain its name and will serve as a division of Medsphere moving forward. Medsphere Systems Corporation today announced the acquisition of Micro-Office Systems (MOS) in a move that will even further enhance the value and usability of Medsphere’s affordable …

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Nuance Sells Off Transcription and EHR-Go-Live Services Businesses to DeliverHealth

What You Should Know: –   Nuance announced that it’s planning to sell two sections of its healthcare business – Health Information Management (HIM) and Electronic Health Record (EHR) Go-Live Services – to a new independent company, called DeliverHealth, in early 2021. – Nuance will be a minority shareholder of DeliverHealth and continue to provide its …

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Providence Taps Nuance to Develop AI-Powered Integrated Clinical Intelligence

What You Should Know: – Nuance Communications, Inc. and one of the country’s largest health systems, Providence, announced a strategic collaboration, supported by Microsoft, dedicated to creating better patient experiences and ease clinician burden. – The collaboration centers around Providence harnessing Nuance’s AI-powered solutions to securely and automatically capture patient-clinician conversations. – As part of …

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M&A: RxVantage Acquires onPoint Oncology to Expand Offering to Oncology Practices

What You Should Know: – RxVantage has acquired onPoint Oncology to provide cancer care teams with on-demand access to educational resources, reimbursement data, and analytics. – The acquisition of onPoint Oncology builds on RxVantage’s rapidly expanding digital offerings for providers. In April, RxVantage launched Virtual Meetings to help providers reestablish access to life science experts amidst the disruptions caused …

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COVID-19 Underscores Need for Identity Governance Administration

Wes Wright, CTO at Imprivata If you work in healthcare, chances are that the COVID-19 pandemic forced you to quickly scale up or move staff around to manage the onslaught of patients. The demand for clinicians and support staff grew alongside the spread of the virus, making organizations add clinicians or reassign employees with new …

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5 Trends Driving The Future of Healthcare Real Estate in 2020 & Beyond

The COVID-19 pandemic has forever changed patient expectations for healthcare delivery, including offered services and health office operations. Although health systems have remained dynamic in adopting telehealth capabilities, their long-term capital, like real estate and supply chain management (SCM) protocols, have not adapted to match these expectations. Health systems must be aware of current trends …

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Getting Beyond the Telehealth ‘Stop-Gap’ Mentality

Roland Therriault, President, InSync Healthcare Solutions Since COVID-19 emerged as a major health threat, virtual care has taken off. As many as 46% of patients reported in late April that they had used telehealth to replace a canceled healthcare visit in 2020, while 48% of physicians said they had started using telehealth to treat patients.   …

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TrustHCS, Visionary RCM, T-System, RevCycle+ Merge to Form New Entity CorroHealth

What You Should Know: – CorroHealth – a newly-formed entity – combines the services and technologies of TrustHCS, Visionary RCM, T-System, and RevCycle+. – Under this new entity, CorroHealth is committed to helping clients navigate regulatory compliance complexities, ease physician burdens and improve financial outcomes. Today, four revenue cycle management services and technology organizations have …

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Report: Modern Revenue Integrity Solutions Driving Payment Performance

What You Should Know: – New Chilmark Research report on revenue integrity in healthcare reveals a transitional market making strides to address the new burdens of modern care economics. – The ongoing COVID-19 public health emergency underscores the imperative need for automation and reduced administrative costs even clearer. Revenue cycle has and continues to be one of …

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Waystar Acquires Medicare RCM Company eSolutions at $1.3B Valuation

What You Should Know: – Revenue cycle management provider Waystar acquires eSolutions, a provider of Medicare and Multi-Payer revenue cycle management, workflow automation, and data analytics tools at a $1.3B valuation. – The acquisition will create the first unified healthcare payments platform with both commercial and government payer connectivity, resulting in greater value for providers. …

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Top 5 RCM Challenges for Healthcare Executives in the COVID-19 Era and Beyond

Brian Robertson, CEO at VisiQuate, There have been many memorable “where were you?” events since the 21st century began. But few can match the COVID-19 pandemic, at least from a healthcare perspective.  The effect on healthcare (and healthcare executives) has been particularly profound since our industry is in the center of everything. From the search for …

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DAS Health Acquires Managed IT Services and CyberSecurity Company Technology Seed

– Both companies’ clients will gain an increased depth of IT and security support, and Technology Seed’s healthcare clients will now have a substantially improved value proposition DAS Health Ventures, Inc., a provider of health IT and management, announced today it completed the acquisition of Technology Seed, LLC, a managed IT and cybersecurity services company based in Salem, NH. …

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Banner Health to Implement Cerner Revenue Cycle Management Across Enterprise

What You Should Know: – Cerner and long-time client Banner Health announced a new deal to implement a comprehensive suite of revenue cycle management solutions as part of a long-standing strategic alignment to use health care technology to drive population health improvement. – The revenue cycle integration will take place across Banner Health’s entire system, including …

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4 Ways Healthcare Organizations Can Establish Partnerships to Drive Innovation

With public and private healthcare spending significantly outpacing that of other countries, U.S. hospitals face intense pressure to find new ways to capture greater value. More and more, organizations are finding that partnerships with existing vendors can help unlock next-level performance gains in a transformative environment. Take Nebraska Medicine, for example. In the early 2000s, …

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Allscripts, Microsoft Ink 5-Year Partnership to Support Cloud-based Sunrise EHR, Drive Co-Innovation

What You Should Know: – Allscripts and Microsoft sign a five-year partnership extension to support Allscripts’ cloud-based Sunrise electronic health record and drive co-innovation. – The alliance will enable Allscripts to harness the power of Microsoft’s platform and tools, including Microsoft Azure, Microsoft Teams, and Power BI, creating a more seamless and highly productive user …

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