The 5 Best Medical Billing Outsourcing Companies
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.
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.
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