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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Healthcare IT Today

NOVEMBER 24, 2024

The latest quarterly trends report from Strata Decision Technology found a 5.2% Thoughtful AI launched six specialized AI agents for RCM workflows. Pennsylvania-based Independence Health System chose Ensemble as the RCM provider for four of its facilities.

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Healthcare IT News - Telehealth

MAY 12, 2021

"These numbers are not surprising, as RCM is still relatively new," said Kristin Stitt, chief clinical officer at Vector, in a statement. That said, RCM technology is still maturing. The report also flagged a potential mismatch between the administrative burden of RCM on staff and the awareness of said burden on physicians.

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Healthcare IT Today

AUGUST 12, 2024

Andy Adams, Managing Director, Performance Improvement and Advisory Services at Nordic Consulting The transition to value-based care (VBC) requires a fundamental shift in RCM practices to align with new payment models that prioritize patient outcomes and quality over volume.

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Healthcare IT Today

JANUARY 11, 2025

The Healthcare IT Today community expects automation will continue transforming RCM in 2025 , with a primary focus on eliminating waste and reducing inefficiency. But does everyone agrees that outsourcing RCM will continue ? Read more… 2025 Predictions: Revenue Cycle Management. AI was part of many expert predictions.

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Healthcare IT Today

AUGUST 7, 2024

Making well-informed decisions is very important in the healthcare space, especially for areas that are necessary for your organization to function, like revenue cycle management (RCM). Here’s how: Unmasking Hidden Trends: Data analytics can analyze vast amounts of RCM data to identify trends and patterns invisible to the naked eye.

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Healthcare IT Today

OCTOBER 23, 2023

The ideal partner will demonstrate an upward trend in cash collections over time while protecting the patient’s financial experience, knowing how important both aspects are in protecting your organization’s ability to provide high-quality care and service.

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Healthcare IT Today

AUGUST 9, 2024

Ultimately, the integration of true AI and machine learning in RCM contributes to greater accuracy, reduced denials, and a better patient experience. The best RCM work is eliminating the work itself, and if the work cannot be eliminated then it’s about automating the work through AI and machine learning models.

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Healthcare IT Today

FEBRUARY 7, 2025

Whether its about reducing human errors or enhancing efficiency, AI-powered tools have already laid a transformative effect on healthcare RCM. Final Thoughts AI is not just a trend but a transformative force in medical billing. One area that has specifically benefited from AI integration is medical billing.

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Healthcare IT Today

SEPTEMBER 25, 2023

For example, 51% of patients say they would pay their bills faster if they received a payment reminder text, according to Salucro’s 2023 Trends in Patient Payment Communications Report. For that, RCM firms and providers need to leverage CCM platforms to also customize the content of their patient financial communications.

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Healthcare IT Today

AUGUST 7, 2024

Arnab Sen, Chief Strategy Officer at Omega Healthcare Increasingly, forward-thinking healthcare organizations are leveraging RCM solutions that incorporate artificial intelligence (AI), machine learning, natural language processing, and automation.

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Healthcare IT Today

DECEMBER 20, 2024

AI-powered revenue cycle management (RCM) systems streamline billing and coding processes, reduce claim denials, and optimize revenue capture. Machine learning algorithms can also analyze large datasets to detect patterns, assist with predictive analytics, and improve medical coding accuracy.

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Healthcare IT Today

DECEMBER 10, 2023

Clinician shortages, virtual care partnerships, and weight loss medications are the major trends that will shape the healthcare landscape in 2024 , according to a report from SteadyMD. News and Studies ONC announced the launch of the USCDI+ Platform , the single place where datasets for all USCDI+ domains will be located.

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Healthcare IT Today

DECEMBER 22, 2022

As a business, it makes sense to embrace AI in revenue cycle management (RCM) fully. AI can help predict claim denials by analyzing past denial trends and alert staff of the potential denial prior to billing. One of the largest areas with AI-enabled products and functions for RCM is denials management. About Helen Lamons.

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Healthcare IT Today

AUGUST 10, 2024

Read more… The Evolution of the RCM Technology Adoption Model. Read more… Improving RCM With True AI and Machine Learning. We asked the Healthcare IT Today community a series of questions about improving RCM. Read more… How Data Analytics and BI Support Proactive RCM Decision-Making.

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Healthcare IT News - Telehealth

OCTOBER 20, 2020

They said they were looking for ways to increase the efficiency of RCM processes and workflows. THE LARGER TREND. Although technologies such as predictive analytics and AI were viewed as one solution, many leaders felt it wasn't the answer to the need for greater price transparency.

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Healthcare IT Today

JUNE 30, 2022

The upside of adopting technology for RCM can be significant: A drop in DSO (days sales outstanding). One technology in particular is proving to be very effective for RCM improvement – data analytics. Why communication from leaders remains key to RCM improvement. How executives can make work-from-home for RCM staff work.

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Healthcare IT Today

APRIL 9, 2023

A study from CWH Advisors and Synchrony found that 63% of providers have RCM staffing shortages , and 61% expect to work with third parties for help. The latest monthly trends report from Syntellis showed a -0.9% Further compounding the problem: 59% of providers rate patient health literacy as poor despite their education efforts.

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Healthcare IT Today

JUNE 8, 2023

The following is a guest article by Eric Demers, CEO at Madaket Health The recent CWH Advisors’ 2022 Patient Pay study unearthed some troubling trends in the administration of RCM. The dearth of healthcare professionals impacting the entire healthcare industry is only adding fuel to the fire.

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Healthcare IT Today

DECEMBER 23, 2024

RCM will be managed by AI-powered agents every step of the way, including generating appeals letters, submitting appeals to payers, and converting paper EOBs to ERAs. In 2025, we predict that using AI-powered agents will reduce the cost of Revenue Cycle Management (RCM) by 70%, helping streamline the end-to-end billing process.

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Lloyd Price

FEBRUARY 23, 2025

in 2023, and this trend is spilling into HealthTech. billion R1 RCM take-private, thrives on snapping up undervalued assetsdistressed HealthTech fits the bill. HealthTech M&A market trends have settled into 3 distinct categories: High Quality, Medium Quality and Distressed companies.

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Healthcare IT News - Telehealth

FEBRUARY 7, 2022

THE LARGER TREND. Other recent deal announcements include Stryker's plans to buy Vocera Communications for $3 billion and R1 RCM's move to snap up Cloudmed. The acquisition marks yet another notable healthcare deal this season, following the announcements of Oracle's plans to buy Cerner for a whopping $28.3 ON THE RECORD.

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Healthcare IT Today

NOVEMBER 4, 2024

Begin by keeping communication channels open with payer representatives, fostering regular discussions about claim trends and cybersecurity concerns to build strong, collaborative relationships. Analyzing patterns and trends can help you identify bottlenecks and areas for process improvement.

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Healthcare IT Today

MARCH 29, 2022

Healthcare IT Today recently partnered with CorroHealth on an e-Book called The Road to 2025: 5 RCM Trends that Are Shaping the Future of Healthcare. The e-Book is full of great insights into how the world of revenue cycle management (RCM) is changing and what healthcare organizations need to know to be prepared for this […].

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Healthcare IT Today

OCTOBER 6, 2024

A Trilliant Health report, 2024 Trends Shaping the Health Economy , indicated behavioral health represents more than 72% of telehealth volume, while cardiology is the specialty with the greatest use of clinical AI. Clinically integrated network Southern New England Healthcare chose ​​​​​​athenaOne for EHR, RCM, and patient engagement.

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BHM Healthcare Solutions

OCTOBER 3, 2023

In the complex world of healthcare, efficient revenue cycle management (RCM) is the linchpin that ensures a healthcare organization’s financial health. The Significance of Effective RCM For healthcare organizations, mastering revenue cycle management is not merely a matter of administrative efficiency; it’s a financial imperative.

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Healthcare IT Today

JUNE 30, 2024

Studies An industry trends report from Auvik found 56% of healthcare organizations face a shortage of IT talent. RCM services vendor Savista launched Sophia , a patient-facing digital agent. RCM vendor SYNERGEN Health appointed Jolene Varney to its Advisory Board. The public comment period runs through the end of August.

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Healthcare IT Today

JUNE 24, 2023

Read more… One Health System’s Roller Coaster Journey to Improved RCM. That turned out to be a blessing in disguise, interim CEO and CMO Dr. Brian Stratta, told Colin Hung, as it required reviewing and streamlining the RCM process, which cut claims denial from 45% to 17% and made real-time RCM reports possible.

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Healthcare IT Today

MARCH 16, 2024

Read more… Price Transparency Trends Shifting Responsibility to Employers. Read more… Unlocking the Power of Interop for More Effective RCM. Read more… Bonus Features for March 13, 2024: HIMSS Edition. AI news from AWS, Google, Innovaccer, Microsoft, and Oracle Health, plus 18 more stories.

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Healthcare IT Today

AUGUST 26, 2023

Read more… What Trend in RCM Are You Keeping Your Eye on Right Now and Why? Members of the Healthcare IT Today Community share what trends in RCM they are looking out for and why. John and Colin wrote down a list of ten topics and rolled a d10 to pick which topics they would discuss in this episode.

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Healthcare IT Today

OCTOBER 9, 2022

RCM vendor FinThrive introduced automation functionality to its insurance discovery product. Inovalon announced the launch of RCM Intelligence to help practices monitor payment trends and cash flow projections. Analytics software company Advata released Advata Smart AR , an accounts receivable process automation tool.

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Healthcare IT Today

JUNE 26, 2024

Reversing this troubling trend calls for new tech-enabled billing and payment approaches that deliver personalized and increasingly digital patient financial experiences and remove other engagement and payment hurdles. Equipping consumers with self-service tools encourages them to take control of their financial healthcare journey.

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Healthcare IT Today

NOVEMBER 30, 2021

A new survey looking at billing trends found that respondents hope to see better reporting functionality from their medical billing software.

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Healthcare IT Today

DECEMBER 30, 2023

John Lynn and Colin recap the year that was, offering their take on the biggest trends, best conferences, and favorite interviews of 2023. Read more… Bonus Features for December 24, 2023: 74% of orgs automating RCM operations, plus per-physician revenue exceeding expenses at U.S.

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Healthcare IT News - Telehealth

MAY 6, 2020

The final Zio report gives physicians a comprehensive look into their patient’s heart rhythm data including: daily and total atrial fibrillation burden, daily and total ectopy burden, symptom/rhythm correlation, most relevant heart rhythm strips, heart rate trends, preliminary interpretation and key findings, and PVC burden and morphologies.

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Healthcare IT Today

AUGUST 19, 2023

Read more… Moving the Industry Forward With an RCM Adoption Model. Healthcare has many models, but until recently RCM has been missing. Jeff Becker and John Yount at FinThrive described their roadmap for RCM implementation and realizing value as an organization.

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Lloyd Price

SEPTEMBER 17, 2023

The report also finds that providers are prioritizing their IT investments in certain key areas, such as: Revenue cycle management (RCM) : RCM is the process of managing the financial aspects of patient care, from billing and coding to collections and denials.

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