This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Revenue Cycle Management (RCM): The Strongest Use Case of GenAI in Healthcare The financial backbone of healthcare, RCM, entails everything from payments and pre-authorization before treatment to reimbursements, compliances, and interoperability with other systems. Such applications go beyond automating repetitive tasks.
We’re moving away from a world where people need to spend countless hours combing through medical documents to manually extract key information to put into a prior auth or other encounter. Ultimately, the integration of true AI and machine learning in RCM contributes to greater accuracy, reduced denials, and a better patient experience.
The Sequoia Project has released additional documentation support the implementation of TEFCA , the Trusted Exchange Framework and Common Agreement for health IT interoperability. Illinois-based Midwest Orthopaedic Center went with eClinicalWorks for its patient engagement, cloud-based EHR, and RCM products.
By adding Corridor to its portfolio, WellSky will expand its medical coding and revenue cycle management (RCM) offerings to help care providers increase efficiency and improve performance across clinical, financial, operational, and compliance areas. For more information visit corridorgroup.com.
Outsourcing will pivot to a more surgical, targeted strategy, focusing on high-impact, specialized areas like revenue integrity, underpayment recovery, and the more commonplace out-of-state Medicaid and small balance recovery work where RCM outsourcing supplements streamlined, automation-empowered teams instead of replacing them.
In the wrong hands, LLMs can generate false or exaggerated medical documentation in an instant. The limitations of interoperability has made value-based care more complex , said Ashay Thakurat Cedar Gate Technologies. RCM company CorroHealth finalized its acquisition of Xtend , Navient’s healthcare RCM business.
News HHS revealed disincentives for providers that commit information blocking , with organizations subject to lower scores and reduced reimbursements under the Medicare Promoting Interoperability Program and ineligible for MSSP participation for at least one year. RCM services vendor Savista launched Sophia , a patient-facing digital agent.
News and Studies The Sequoia Project released a bundle of TEFCA draft documents , including v2 drafts of the Common Agreement and QHIN Technical Framework. About half (49%) of healthcare professionals are likely to invest in new RCM technology in the next 18 months , according to Salucro’s Healthcare Provider Fintech Insights Report.
AI is becoming an essential tool in healthcare and is being leveraged to create new efficiencies this includes better documentation, streamlined data extraction, and predictive modeling that contribute to enhanced clinical efficiencies and higher-quality care. However, a strong foundation is crucial before leveraging such innovations.
Because many people don’t proclaim themselves as medical tourists on travel documents, reliable statistics on the prevalence of medical travel are scarce. This lack of code interoperability creates paperwork challenges for American hospitals seeking payment from other nations. But the U.S.
The market will see increased asks/attention for bots as they are critically needed in RCM to offset staff shortage, enhance staff retention, and accelerate tasks (ultimately cash flow). The World Health Organization estimates that up to 50% of all medical documentation mistakes result from administrative errors.
RCM outsourcing vendor Ensemble Health Partners expanded its partnership with Microsoft. Products Augmedix launched Augmedix Go , ambient AI medical documentation for the ED, and announced HCA Healthcare as a pilot user. Ambient AI documentation vendor DeepScribe added Dr. Miles Snowden to its advisory board.
Cybersecurity, privacy, and interoperability represent the biggest hurdles that vendors will need to overcome. Generative AI could support diagnosis and treatment of mental health conditions , and it can help document visits and track symptoms. RCM vendor Access Healthcare acquired Envera Health , a patient engagement vendor.
John connected with Angie Bass at Velatura to discuss why interoperability is about finding value in data and not just exchanging data. Also of note: Efforts to improve the speed of documentation and increased use of visual displays. RCM automation platform Candid Health announced $29 million in Series B funding.
Scott Sirdevan at Vorro explained how EiPaaS leads to low latency and better interoperability, all while improving security. RCM automation company Thoughtful AI raised $20 million in Series A funding. Read more… Enterprise Integration Platform as a Service Brings Scalability, Agility to Healthcare Operations.
News ASTP released a draft of United States Core Data for Interoperability v6 , with six new data elements. Luke’s Health System chose Ambience Healthcare for AI-powered documentation and saw a 40% decrease in documentation outside working hours. Idaho-based St.
Fern Cowan at DeepCura AI talked to John about applying lessons from hospitality to healthcare AI , as well as the benefits of deep EHR integration for clinical documentation. Read more… Harness Ambient Listening to Revolutionize Documentation. Read more… Marrying Ambient Clinical Voice and Clinical Automation.
Read more… 2024 Health IT Predictions: Interoperability, Data, and the Cloud. Our experts agreed that interoperability isn’t a goal unto itself but will continue to support efforts to provide clinicians with context at the point of care and make it easier for organizations to advance their cloud strategies.
Providers are saving more than two hours daily on clinical documentation, improving efficiency and the quality of notes. AI medical scribes have transformed patient visits by silently working in the background, turning patient-provider conversations into draft clinical documentation, and drastically helping alleviate burnout.
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. EHR and RCM vendor for therapy and rehab practices Raintree released Raintree Payments.
RCM optimization vendor Iodine Software launched Appeals Management Workspace to support denials management. Document exchange and interoperability vendor Concord Technologies launched Concord Connect , which routes patient records to the appropriate system.
A bad UI can leave physicians distracted and frustrated, which takes theis attention away from the patient in the room and can lead to errors in documentation or prescribing. Read more… Interoperability’s Role in Value-Based Drug Pricing. Read more… A Healthcare Security Reality Check.
Hospital interoperability platform Olinqua is partnering with FiveP , maker of a a role-based messaging app for Microsoft Teams called Baret. Partnerships Augmedix and HCA Healthcare are jointly developing ambient documentation products for the acute care setting; HCA is also making a financial investment in Augmedix.
Read more… EMR and RCM in the Cloud Providing Value to HealthNet. Document exchange and interoperability vendor Concord Technologies acquired Opero , which develops business process improvement applications for Salesforce. Real-time location systems vendor Cognosos acquired Cox Prosight , an RTLS platform for hospitals.
This frees up staff to focus on more complex and strategic aspects of RCM. Bill Charnetski, EVP, Health System Solutions and Government Affairs at PointClickCare HIT incentives and staying consistent with federal interoperability standards will be key in solving the nation-wide staffing crisis.
ONC released the Draft United States Core Data for Interoperability (USCDI) v4 and its accompanying Standards Bulletin. IoT data analytics company CenTrak launched Workflow , a platform for automating clinical documentation and reporting. EHR, RCM, and practice management vendor ModMed appointed Jody Beaverson as Chief People Officer.
Involving revenue cycle management (RCM) is necessary for any comprehensive SDoH/health equity strategy. These metrics are a vital part of a patient’s SDoH story when this information is documented in the patient’s chart. One of CMS’ most important SDoH tenets is data collection and reporting.
We organize all of the trending information in your field so you don't have to. Join 48,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content