Q4 2022 RCM Insights
Corp Advisory Solutions
FEBRUARY 10, 2023
The post Q4 2022 RCM Insights appeared first on Corporate Advisory Solutions.
JPM 2022: R1 RCM picks up AI software firm Cloudmed in $4.1B all-stock deal
FierceHealthIT
JANUARY 10, 2022
JPM 2022: R1 RCM picks up AI software firm Cloudmed in $4.1B Mon, 01/10/2022 - 10:48. all-stock deal.
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Q3 2022 Revenue Cycle Management (RCM) Insights
Corp Advisory Solutions
NOVEMBER 4, 2022
The post Q3 2022 Revenue Cycle Management (RCM) Insights appeared first on Corporate Advisory Solutions.
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Q2 2022 Revenue Cycle Management (RCM) Insights
Corp Advisory Solutions
JULY 30, 2022
The post Q2 2022 Revenue Cycle Management (RCM) Insights appeared first on Corporate Advisory Solutions.
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RCM: Fixing the Old and Adjusting to the New
Healthcare IT Today
JUNE 29, 2023
Revenue Cycle Management (RCM) is like a one of those huge Lego sculptures. Having a well executed RCM strategy is crucial to keep your organization running because it impacts everything. From the outside it looks one thing, but upon further inspection there are a million tiny little pieces that fit together to create the whole.
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Technology and Partnerships Needed to Address RCM Staffing Challenges
Healthcare IT Today
APRIL 15, 2022
Staffing continues to be the most significant challenge facing healthcare in 2022 – not just on the frontlines but in the back-office too. To fill the gap, they must adopt RCM technology and learn to partner with service providers. Healthcare […].
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2022 Predictions for Revenue Cycle Management (RCM)
Healthcare IT Today
JANUARY 20, 2022
As we head into 2022, we asked the Healthcare IT Today community to share some predictions for the new year. I always find it interesting to learn what people think is coming down the road. Be sure to check out all our Health IT Predictions. One of the hottest topics thanks to COVID is associated […].
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NextGen Healthcare eyes opportunities to build up RCM business amid tight healthcare labor market
FierceHealthIT
JANUARY 26, 2022
NextGen Healthcare eyes opportunities to build up RCM business amid tight healthcare labor market. Wed, 01/26/2022 - 12:04.
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JPM, Day 1: Teladoc 2021 revenue to hit $2B, R1 RCM picks up Cloudmed in deal valued at $4.1B and more
FierceHealthIT
JANUARY 9, 2022
JPM, Day 1: Teladoc 2021 revenue to hit $2B, R1 RCM picks up Cloudmed in deal valued at $4.1B Sun, 01/09/2022 - 16:35.
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AGS Health Recognized As An RCM Leader and Star Performer By Everest Group
Electronic Health Reporter
JUNE 29, 2022
has again been named a Leader and Star Performer in Revenue Cycle Management (RCM) Operations by Everest Group. The article AGS Health Recognized As An RCM Leader and Star Performer By Everest Group appeared first on electronichealthreporter.com. The […].
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Capital One Serves as Joint Lead Arranger on $2.3 Billion Financing for R1 RCM
Healthcare IT Today
SEPTEMBER 16, 2022
Capital One Commercial Bank , a full-service bank with middle market specialization in many industries, including over 40 healthcare sub-sectors, announced today it served as a joint lead arranger for an amended and restated credit facility for R1 RCM. R1 RCM used the facility, which increased its borrowing capacity from $1.2
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Turning Increased Ambulatory Volumes into Financial Strength: 4 Moves for RCM
Healthcare IT Today
OCTOBER 23, 2023
With outpatient volumes expected to grow 16% over the next decade—and ambulatory volumes projected to rise 25% by 2022—ambulatory providers can’t afford to leave patient financial engagement to chance. But finding the right approach is key.
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Weekly Roundup – October 29, 2022
Healthcare IT Today
OCTOBER 29, 2022
Read more… The Benefits of RCM as a Service. At the recent eClinicalWorks National Conference, John spoke to Todd Mallon of Advocare about the health system’s transition from in-house revenue cycle management to RCM as a service , due in part to staffing issues. Read more… The CIO’s Role in RCM.
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Weekly Roundup – December 24, 2022
Healthcare IT Today
DECEMBER 24, 2022
Two-thirds of health systems use AI for at least some RCM tasks. Helen Lamons at Advata pointed out that denials management is one of the most mature use cases for AI in RCM – and when used effectively it can help organizations improve collections with limited impact on billing staff.
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83 Weekly Roundup – October 15, 2022
Healthcare IT Today
OCTOBER 15, 2022
At MGMA’s 2022 Medical Practice Excellence: Leaders Conference, it was clear that providers face financial and operational pressure from staffing costs and their impact on revenue. Global EHR, ERP, and RCM service provider Nordic Consulting acquired Hygeian , which serves the United Kingdom and Middle East.
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Bonus Features – October 9, 2022 – Optum completes Change Healthcare acquisition, interest in flu shots is declining, and more
Healthcare IT Today
OCTOBER 9, 2022
Optum first announced its intention to acquire Change in January 2021, but the DOJ initially blocked the deal in February 2022 due to anti-competition concerns. RCM vendor FinThrive introduced automation functionality to its insurance discovery product. Department of Justice challenge of the deal.
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Weekly Roundup – July 2, 2022
Healthcare IT Today
JULY 2, 2022
In the latest Healthcare IT Today Interviews podcast, Colin Hung chats with Jess Stover at SimiTree and Derek Shaw at Invicta Health Solutions about the role of process automation and data analysis in improving revenue cycle management (RCM) and boosting cash flow at a time when many practices need it.
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Weekly Roundup – August 20, 2022
Healthcare IT Today
AUGUST 20, 2022
Earlier this month, the RCM vendor reported a data breach that may have impacted patients at five Texas-based providers. We hope this gives you a chance to catch up on anything you may have missed during the week. 5 Lessons from the Conifer Health Solutions Data Breach.
Misinformation, Trust, Charting, and Conferences – Fun Friday
Healthcare IT Today
OCTOBER 7, 2022
. — Rasu Shrestha MD MBA (@RasuShrestha) October 5, 2022. Great panel with @Fin_Thrive , @BannerHealth & @CenturaHealth on the future of #RCM. Olivia Schlabach (@livschlab) October 6, 2022. John Lynn (@techguy) October 6, 2022. Colin Hung (@Colin_Hung) October 5, 2022. Never underestimate the power of easy. “In
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Bonus Features – July 10, 2022 – Sequoia Project releases TECFA identity verification documentation, IBM Watson Health is now Merative, and more
Healthcare IT Today
JULY 10, 2022
More than 90% of respondents said providing routine healthcare post-COVID is putting a strain on their departments, with 90% of RCM departments experiencing a labor shortage. Illinois-based Midwest Orthopaedic Center went with eClinicalWorks for its patient engagement, cloud-based EHR, and RCM products.
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Weekly Roundup – November 12, 2022
Healthcare IT Today
NOVEMBER 12, 2022
Colin Hung spoke to Patrice Wolfe and Thomas Thatapudi at AGS Health about how process automation such as claims retrieval can ease the burden on RCM staff , bringing in more revenue with less manual work. With costs rising and revenue flat, health systems and physician practices are struggling with interoperability.
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Bonus Features – November 27, 2022 – 60% of hospitals use 50+ operations systems, CHIME names Theresa Meadows as CIO of the Year, and more
Healthcare IT Today
NOVEMBER 27, 2022
XIFIN announced HITRUST certification for XIFIN RPM 15 , the latest version of its RCM platform. Independent practice management software maker AdvancedMD announced its fall 2022 product update , which includes nearly three dozen new features. IoT platform vendor Iveda launched IvedaCare , an AI assistant for home-based senior care.
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Bonus Features – October 16, 2022 – Half of docs considering leaving their job, there’s little risk in sharing de-identified data, and more
Healthcare IT Today
OCTOBER 16, 2022
Nearly two-thirds of physicians surveyed (65%) said they are experiencing burnout, and 35% said their level of burnout has “significantly increased” in 2022. RCM firm Conifer Health added Patti Peets and James Muir to its sales executive leadership team, covering the South-Central Texas Region and West Coast regions, respectively.
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Bonus Features – May 28, 2023 – 20+ health systems pledge to use Epic to share info under TEFCA, 84x increase in telehealth for mental health from 2019 to 2022, and more
Healthcare IT Today
MAY 28, 2023
The latest report on mental health utilization trends from LexisNexis Risk Solutions shows an 84x increase in utilization of telehealth for mental health in 2022 compared to 2019. NorthShore University HealthSystem affiliate Northwest Community Healthcare chose Conifer for physician RCM.
Linden Announces Agreement to Acquire Majority Stake in Aspirion from Aquiline Capital Partners
Healthcare IT Today
JUNE 30, 2022
Linden Capital Partners (“Linden”), a Chicago -based private equity firm focused exclusively on the healthcare industry, today announced that it has signed a definitive agreement to make a majority investment in Aspirion (the “Company”), a leader in technology-enabled healthcare revenue cycle management (“RCM”).
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Bonus Features – November 13, 2022 – HCA extends 30-year relationship with MEDITECH, cost of care replaces pandemic as top reason to defer care, and more
Healthcare IT Today
NOVEMBER 13, 2022
More than 80% of all claims denials are associated with Medicare , according to the latest annual benchmark report from RCM and auditing software maker MDaudit. DirectTrust announced that more than 208 million messages were sent and received on the DirectTrust network in Q3 2022. healthcare system to keep them healthy.
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Weekly Roundup – October 28, 2023
Healthcare IT Today
OCTOBER 28, 2023
One strategy for building this strength is digitizing and streamlining RCM. Bonus Features for October 22, 2023: 57% of patients accessed portals or medical records in 2022, plus 21 orgs make Level 10 in the 2023 CHIME Digital Health Most Wired Survey. RCM vendor Alpha II acquired RCxRules , a revenue cycle automation vendor.
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Bonus Features – May 7, 2023 – Less than 1% of all medical claims include an ICD-10 Z code, 78% of consumers say virtual health is important when considering health plans, and more
Healthcare IT Today
MAY 7, 2023
News CMS has opened the Hardship Exception application period for eligible hospitals and critical access hospitals (CAHs) that participated in the Medicare Promoting Interoperability Program in 2022. Global venture capital funding was just $21 billion in April 2023 , a 56% drop from April 2022, according to Crunchbase.
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Bain & Company - KLAS Research 2023 HealthTech Report: Key Points for Providers, Vendors & Investors
Lloyd Price
SEPTEMBER 17, 2023
In a survey of 201 US healthcare provider executives conducted in June 2023, 56% of the respondents cited software and technology as one of their top three strategic priorities, compared with 34% in 2022. Providers are investing in RCM software to improve their efficiency and accuracy, and to reduce costs. This is up from 34% in 2022.
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64 Bonus Features – January 7, 2024 – New executives at CitiusTech, MultiPlan, and NextGen, plus 15 other stories
Healthcare IT Today
JANUARY 7, 2024
New England Orthopedic Surgeons (NEOS) is implementing athenaOne EHR, RCM, and patient engagement functionality. million in gross savings in 2022. Product and Company News VideaHealth received 510(k) clearance for Videa Dental Assist , which includes more than 30 AI algorithms to detect common dental diseases.
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LGI Healthcare Solutions Acquires Boston Software Systems
Healthcare IT Today
OCTOBER 19, 2023
A recognized leader in RPA solutions, BSS is proud to be a top performer in the 2021, 2022, and 2023 “Best in KLAS” report as well as the top ranking in two areas of Black Book’s 2023 Top Client-Rated Financial & RCM Solutions. Originally announced October 5th, 2023
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Bonus Features – December 4, 2022 – 34% of Americans take anti-anxiety meds during the holidays, hospital margins at -2% but show signs of hope, and more
Healthcare IT Today
DECEMBER 4, 2022
RCM consultancy MDaudit announced three leadership team appointments : Raj Joshi as CISO, Jaenna Babajane as Vice President of Customer Experience, and Nisheet Goenka as VP of Engineering. French cancer center Gustave Roussy Institute chose Synapse Medicine for clinical pharmacy and medication reconciliation services.
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CompuGroup Medical Confirms Market-Leading Position with Strategic Acquisition of Medicus LIS
Healthcare IT Today
DECEMBER 16, 2022
Adds additional technology and RCM services options for Medicus LIS customers. Originally announced December 7th, 2022. CompuGroup Medical acquires Medicus LIS. . Increases market-leading laboratory information systems install base in the US. .
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CloudMD Divests Non-Core U.S. Electronic Medical Records and Practice Management Business
Healthcare IT Today
JULY 25, 2023
-based Electronic Medical Records (EMR), Practice Management (PM), and Revenue Cycle Management (RCM) assets for approximately US$6.3 Harris Computer Corporation (Harris) and follows the sale of CloudMD’s Canadian EMR business in October 2022. The sale was pursuant to a definitive agreement with a subsidiary of N.
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Patient Square Capital to acquire SOC Telemed
Healthcare IT News - Telehealth
FEBRUARY 7, 2022
After the completion of the transaction, expected in the second quarter of 2022, Gallagher will continue to serve as SOC Telemed's CEO. Other recent deal announcements include Stryker's plans to buy Vocera Communications for $3 billion and R1 RCM's move to snap up Cloudmed. ON THE RECORD.
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Once Feared, AI Now Offers Relief for Healthcare Staffing Challenges
Healthcare IT Today
APRIL 21, 2022
There is little doubt that the top challenge facing healthcare in 2022 is staffing. Healthcare organizations around the country are feeling the effects of shortages and workforce instability with both frontline workers and administrative staff.
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Fathom Secures $46M Series B Financing
Healthcare IT Today
NOVEMBER 11, 2022
A report by Bain and Company , 2022 Healthcare Provider IT Report: Post-Pandemic Investment Priorities, found that clinician shortages and wage inflation are driving demand for solutions that improve productivity and alleviate labor needs. Originally announced November 9th, 2022.
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Bonus Features – August 6, 2023 – 83% of hospitals are collecting SDoH data, 46% of hospitals planning to use large language models in the call center, and more
Healthcare IT Today
AUGUST 6, 2023
Healthcare accounted for 36% of all enterprise data breaches in 2022 , according to the latest research from ForgeRock. The report also cited a 50% increase in breaches from 2022 as compared to 2021. EHR and RCM vendor ModMed appointed Denise Ceule as Chief Legal Officer.
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Insights and Perspectives from #HFMAAnnual Conference
Healthcare IT Today
JULY 1, 2022
John Lynn (@techguy) June 27, 2022. John Lynn (@techguy) June 29, 2022. John Lynn (@techguy) June 27, 2022. John Lynn (@techguy) June 29, 2022. John Lynn (@techguy) June 27, 2022. John Lynn (@techguy) June 28, 2022. John Lynn (@techguy) June 28, 2022. pic.twitter.com/6BRAuXlBqK.
Avoiding Red Flags: Finding the Right Productivity Balance
Healthcare IT Today
NOVEMBER 22, 2022
The following is a guest article by John Wallace, PT, OCS, Senior Vice President of RCM at WebPT. According to WebPT’s 2022 State of Rehab Therapy report , “Educational institutions and inpatient hospitals top the patient volume charts, with each of its providers seeing approximately 20 patients per day.” .
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94 WELL Health to Acquire EMR, Billing and Clinical Assets from CloudMD
Healthcare IT Today
OCTOBER 24, 2022
WELL has built an innovative practitioner enablement platform that includes comprehensive end to end practice management tools inclusive of virtual care and digital patient engagement capabilities as well as Electronic Medical Records (EMR), Revenue Cycle Management (RCM) and data protection services.
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Revenue and Workforce Challenges Top of Mind at #MPE22
Healthcare IT Today
OCTOBER 11, 2022
Two topics were top of mind for attendees at MGMA’s 2022 Medical Practice Excellence: Leaders Conference (#MPE22) – workforce challenges and revenue pressure. One large group practice (who wished to remain anonymous) shared with Healthcare IT Today that they went from $0 spent on staffing agencies in 2019 to over $3M so far in 2022.
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109 Bonus Features – January 29, 2023 – ONC says more than 70% of hospitals can use external data at the point of care, the 3 largest health info networks have indexed 90% of patients, and more
Healthcare IT Today
JANUARY 29, 2023
MEDITECH signed nine cloud-based Expanse clients in the fourth quarter of 2022. EHR, RCM, and practice management software vendor Greenway Health named Mark Goodwin as Senior Vice President of Revenue Services. In addition, Kansas City University (KCU) College of Dental Medicine is implementing eCW electronic dental record software.
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Volume-to-Value Shift Drives Surge in Demand for Revenue Cycle Management Outsourcing
Hinduja Global Solutions
MAY 1, 2019
According to a recent Black Book survey, the average hospital costs must fall by 24 percent by 2022 for organizations to break even. The survey also highlighted the increasing demand for revenue cycle outsourcing — 18 percent of hospitals implemented a full RCM outsourcing project in 2018, compared to 11 percent three years prior.
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