PatientRightsAdvocate.org sued the American Medical Association this week, arguing the trade group has no valid copyright over the CPT codes that providers must use to bill for care. It follows a public letter Senator Bill Cassidy sent to the AMA last year accusing it of "abus[ing] [its] government-backed monopoly by charging exorbitant fees to anyone using the CPT code set."
The between a code that satisfies a payer and the information a physician needs to treat a person, is what nearly every healthcare AI tool is racing past. As we push these systems toward precision medicine and genomics, that gap stops being an annoyance and becomes a patient safety issue.
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Medical billing is a tedious administrative task, but outsourcing it may be the key to increased revenue. Explore the top medical billing outsourcing companies and the benefits of partnering with one.
Riverside Health is reporting an increase in revenue and net margins as a result of adopting Abridge’s ambient AI technology. The tool listens to doctor-patient interactions and generates clinical notes — which not only alleviates physicians’ burnout, but also improves their documentation accuracy. The Virginia-based health system saw a 14% increase in HCC diagnoses documented per encounter.
Autonomous coding startup Nym raised $47 million. The New York City-based company has 21 provider customers, including Geisinger and Ochsner Health.
Some of the most difficult processes for digital health startups to navigate are those related to reimbursement and coding. Startups will often need to create entirely new codes for their products, so they should start thinking about this sooner rather than later, experts said at a recent conference.
Healthcare payments are no longer about transactions. It’s about controlling the revenue cycle. And increasingly, that control is not sitting with ISOs.
Cedar, a startup developing billing software for health systems and physician groups, raised $77 million in venture capital and $25 million in debt.
Olive AI, a startup that uses AI to automate error-prone administrative tasks, raised $51 million in funding. The company has experienced a recent growth spurt, expanding to more than 500 hospitals across the U.S.
Despite our best efforts as a wound care community, wound healing is not going away. In fact, the opposite is happening. Demand for our services as a wound care company have been increasing over the years. Hospitals can no longer go without a wound care strategy for their patient population. Creating a wound care strategy […]