To remain resilient amid the volatility, skilled nursing facilities need to stay on top of what’s impacting operations and consider strategic opportunities. Here are important trends to watch.
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.
At a time when AI is reshaping pharma, Reverba Global CEO Cheryl Lubbert explained in an interview why empathy, context, and ethics still require a human touch.
Finding the best analytics tools for health care revenue management can revolutionize operational processes. Compare the leading software options to discover helpful team resources.
For community hospitals, it’s a sign of the need for a different approach to patient financial communication and payment — one that meets patients where they are and protects their dignity while avoiding undue stress on the organization’s bottom line.
While AI has the potential to streamline processes, its current use in the revenue cycle is resulting in more claim denials, payment delays, and a greater need for appeals, particularly because payers often use AI to retroactively review medical necessity determinations.
Sluggish margins and high costs have created a challenging environment for provider organizations. With the number of denied claims increasing significantly over the past few years, so has the time and resources needed to manage those denials.
The home care industry is booming. As Baby Boomers age and more families seek in-home solutions for loved ones, demand for home care services is at an all-time high.
Three ways healthcare organizations can benefit from leveraging qualified revenue integrity professionals to enhance CDM technology and drive additional ROI
Hospitals’ operating margins and patient volumes dropped slightly in March. While hospitals were doing relatively well financially during the first quarter of the year, this new data could suggest more financial challenges ahead for hospitals. But right now, it’s unclear whether the recent declines in hospitals’ margins and volumes will be short- or long-term.
Improving encounter processing and reporting can safeguard and maximize revenue and operating margins providing the financial resources for payers to continue providing members with quality, life-enhancing healthcare.
A new study from Bessemer Venture Partners analyzed more than 100 venture-backed healthcare companies to determine the best strategies to scale to $100 million in annual recurring revenue. The report laid out a few main lessons health tech companies should know, such as the importance of nurturing relationships with early customers and making sure efficiency metrics are paid close attention.
Break down the silos. Take control of your provider data.
The company, which provides revenue cycle management solutions for providers, is filing for the IPO less than two years after Bon Secours Mercy Health sold its majority stake in Ensemble to private equity firm Golden Gate Capital. Per the filing, the company aims to raise $100 million, but that is likely a placeholder figure.
Hospital revenues and volumes are on an upswing, but growing expenses are still offsetting gains in these areas, especially as cases caused by the Delta Covid-19 variant continue to rise.
Though there has been a slew of failed merger plans in recent months, providers' interest in consolidation has not ebbed. Midwest-based Beaumont Health and Spectrum Health announced they are exploring a merger, as did Rush Health Systems and Ochsner Health, which are located in the South.
Bright Health has filed preliminary paperwork for an IPO, joining its rivals in the insurance technology space in going public. Though there are few confirmed details at the moment, Bright Health is reportedly looking to raise $1 billion through the offering.
According to a survey conducted by Catalyst @ Health 2.0, a whopping 41% of digital health companies said their revenue was above expectations last year. Despite reporting longer sales cycles, most companies still were optimistic about their business prospects going into 2021.