What You Should Know: Cedar, an enterprise financial engagement platform that improves the end-to-end journey for consumers announced a strategic collaboration with Google Cloud. As part of the collaboration, Cedar will be using Google Cloud’s generative AI tools, including Vertex AI, Generative AI App Builder and others to build solutions that will assist patients in understanding and resolving their healthcare bills. Generative AI Tools to Improve Patient Financial
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Medical Billing | Revenue Cycle | Patient Financial Experience | News, Analysis, Insights - HIT Consultant
Inbox Health Raises $22.5M for Patient Billing Communications Platform
What You Should Know: Inbox Health, a New Haven, CT-based patient billing communications platform raises $22.5M in a Series B financing round, led by fintech-focused Ten Coves Capital. The Series B announcement follows news that Inbox Health's billing technology was awarded a patent by the U.S. Patent and Trademark Office in April 2023. The new growth capital will further accelerate Inbox Health’s strategic growth as it continues to improve and modernize the billing, support, and payment
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New Medical Billing Codes You Should Know About
Physicians need to keep their billing and coding right to ensure seamless reimbursements from payers. Similarly, they should stay updated with the latest coding changes to keep their revenue cycle intact. In addition, running a successful medical practice is a daunting task as the providers need to stay updated with the industry guidelines. The year 2023 is bringing changes in medical codes to help providers reduce their burden and streamline patient care. So, providers need to stay focused on
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Half of the Patients With High-Deductible Health Plans Have Received Surprise Medical Bills
What You Should Know: - AKASA™, the leading developer of AI for healthcare operations, released findings from a survey conducted on its behalf by YouGov. - The findings highlight how patients with high-deductible health plans (HDHPs) suffer the downstream effects of a complex medical billing process, including surprise medical bills, inaccuThe findings highlight how patients with high-deductible health plans (HDHPs) suffer the downstream effects of a complex medical billing process,
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43% of Consumers Spend Up To A Month Correcting Billing Errors
What You Should Know: - In the online survey administered to 800 U.S. consumers who had found at least one medical billing error in the last five years, 41% of the consumers are significantly frustrated trying to address billing errors. - Zelis, a company modernizing the business of healthcare, announced findings from a new study on consumer billing conducted in partnership with Hanover Research, an independent research firm. The full results and insights are featured in the
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Patient Financial Experience: 40% of Americans Confused by Medical Bills
What You Should Know: - AKASA™, a developer of AI for healthcare operations, released findings from a new survey conducted on its behalf by YouGov. - The survey findings highlight uncertainty looms among patients about what is included in a bill and if they can pay - two factors that drive the most confusion on medical bills. However, there are strategies healthcare organizations can take to be proactive and prevent billing surprises from trickling down to patients. Understanding
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AdvancedMD to Roll Out 35+ Updates in Major Product Release
What You Should Know: - AdvancedMD announced its 2022 Fall product release that includes 35 new features added to its suite of all-in-one medical office and remote care cloud software. This marks one of the largest product release updates in AdvancedMD history, reflecting the robust nature of the leading cloud-based platform used by more than 40,000 practitioners across 13,000 practices, and 850 medical billing companies. - AdvancedMD’s fall release ensures more unified and smoother
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WELL Health Acquires EMR, Billing, Clinical Assets from CloudMD for $5.75M
What You Should Know: - WELL Health is acquiring CloudMD's Cloud Practice entity which includes OSCAR1 based Juno EMR and ClinicAid billing Software applications as well as three primary care clinics located in the province of British Columbia. - The combined entities serve more than 2,500 healthcare practitioners across Canada and represent WELL's entrance in the Alberta and Saskatchewan markets for its EMR and billing products. Leveraging Technology to Empower Healthcare
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Modernizing Medical Payments: Why Providers Must Enrich the Patient Financial Experience
Medical billing issues cause many consumers to shop for different providers. Customers expect a simple, automated billing experience. Insider Intelligence’s recent Spotlight on Modernizing Medical Payments looks at what drives consumers away from their medical providers, and what providers can do to modernize their billing processes. Incorrect or Confusing Bill Cause Patients to Leave Their Doctors According to a December 2021 report on Patient Payment Technology, 64% of respondents
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Top 9 Most In-Demand Medical Billing/Revenue Cycle Positions
A new AKASA survey highlights the vacant roles healthcare CFOs and financial leaders most need talent for to sustain daily operations within medical billing and the revenue cycle. The back office of healthcare is essential to keeping the doors of hospitals open by making sure the bills are paid. Yet, these teams are facing labor shortages like never before. The survey of more than 400 healthcare financial leaders ranked the following as the roles where
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