It’s no secret that healthcare costs have continued to rise over the years. In fact, a staggering four in 10 Americans have skipped medical care due to financial concerns. The rise of high-deductible health plans means more financial responsibility has fallen directly on patients, as out-of-pocket costs have skyrocketed by 111% since 2010 and are projected to increase by 10% each year through 2026. But there’s good news. According to our own research and data, there is roughly $58
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
InComm Payments Acquires AI-Powered HSA Solution Zenda
What You Should Know: InComm Payments announced it has acquired Zenda, an AI-powered HSA and FSA solution. With aligned organizational goals of “helping more people better manage their health expenses and livelihoods,” the acquisition of Zenda allows InComm to enter into the employer health benefits category while also furthering the capabilities of its InComm Healthcare business unit which includes the Dual Network Benefit Card. AI-Powered HSA and FSA Solutions for
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M&A: Waystar Acquires Patient Payment Platform Healthpay24
What You Should Know: Waystar, a provider of healthcare payments software, today announced is has acquired enterprise patient payment platform HealthPay24. Financial details of the acquisition were not disclosed. This acquisition marks Waystar’s eighth since 2018, and will help augment Waystar’s existing expertise, furthering the company’s mission to simplify healthcare payments and make for a more seamless patient financial experience. HealthPay24 Background HealthPay24 is
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RCM: Cedar, Google Cloud Partner to Gen AI Tools to Improve Healthcare Billing for Patients
What You Should Know: Cedar, an enterprise financial engagement platform that improves the end-to-end journey for consumers announced a strategic collaboration with Google Cloud. As part of the collaboration, Cedar will be using Google Cloud’s generative AI tools, including Vertex AI, Generative AI App Builder and others to build solutions that will assist patients in understanding and resolving their healthcare bills. Generative AI Tools to Improve Patient Financial
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What to Look for in a True Enterprise Healthcare Scheduling Solution
Not all enterprise scheduling solutions are created equal. Before highlighting the features that every health system should include when implementing an enterprise scheduling solution, it makes sense to level set on the topic. Using the term “enterprise” to describe a scheduling solution means that the system must be designed to access all venues of care across the full spectrum of a patient’s healthcare journey. This means consumers will be presented with an integrated scheduling platform
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M&A: Ventra Health Acquires ArcMed
What You Should Know: - Ventra Health, a business solutions provider for hospital-based clinicians, announced today the acquisition of ArcMed, an India-based billing and automation services organization. This acquisition will strengthen Ventra Health’s service performance and quality, optimize operational efficiencies, and provide added scale for automation and growth. - Ventra Health's new operating model, predictive analytics platform, and intelligent process automation will enable
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Paytient Raises $7.5M in Venture Debt for Health Payment Platform
What You Should Know: Paytient, the Health Payment Account (HPA) that helps plan members access affordable health care, officially announced Silicon Valley Bank has finalized a $7.5M venture debt facility. To date, the company has raised $55.5M in equity from leading investors including Mercato, Bertelsmann Investments, Lightbank, Felicis Ventures, Box Group, Lachy Groom, Left Lane Capital, Commerce Bank, Crossbeam Ventures, Cultivation Capital, and Inspired
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Verifiable Lands $27M to Automate Healthcare Provider Credentialing
What You Should Know: Verifiable, an API-first innovator to the antiquated provider network management software category, has raised $27 million in Series B funding led by Craft Ventures to accelerate its next stage of growth and product innovation. Verifiable’s comprehensive suite of network management solutions and real-time verifications empowers healthcare organizations to expedite credentialing from multiple weeks to a matter of days. For customers, these efficiency gains can
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RCM: Average Length of Clinical Notes Continues to Increase
What You Should Know: In 2021, the Centers for Medicare and Medicaid Services (CMS) implemented changes to evaluation and management (E/M) CPT billing codes aimed to reduce the administrative documentation burden on providers.Epic Research just came out with a new study that shows the average length of clinical notes has continued to increase over the last three years. Understanding Why Clinical Notes Remain ‘Bloated’ The study evaluated 1.7 billion clinical notes written by 166,318
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Iodine Software, OpenAI Partner to Resolve Revenue Leakage
What You Should Know: Iodine Software, a pioneer in healthcare AI technology, today announced an expanded relationship withOpenAI, an AI research and development company.As part of this collaboration, Iodine will gain access to OpenAI’s cutting edge artificial intelligence technologies, including its powerful language model GPT-4. AI-Driven Clinical Automation Tools Iodine Software has a deep-rooted history in AI technology, having developed sophisticated, industry leading
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