Financial/Revenue Cycle Management

Michael Ramey, managing principal of Strategic & Transaction Solutions at PYA, explains how FTC's new premerger notification rules require organizations to share more data about their proposed transactions.

After the Change Healthcare breach, healthcare organizations are diversifying their buying strategies and asking about vendors' cybersecurity policies, says Karly Rowe, interim president of Inovalon's provider business unit.  

But Vik Bajaj, cofounder and CEO of Foresite Labs, says the NIH and associated research-focused programs in the U.S. will always remain a leading funding vehicle for biomedical innovation and training worldwide.

Business school professor Joe Peppard penned a Wall Street Journal op-ed recently, making the case that many companies shouldn't necessarily be investing in AI – because many aren't well-positioned to succeed with it. What about healthcare providers?

Healthcare organizations need to increase revenue while cutting expenses and find ways to personalize the patient experience.

Almost 20% of healthcare workers polled recently said they spend more than 20 hours per month correcting billing errors. Artificial intelligence can help, but adding automation to billing systems is no easy task.

Researchers and developers have announced artificial intelligence tools that aim to shrink the time mental health providers spend on administrative tasks, provide faster triage, support clinical decision-making and improve patient access. 

According to RevCycle Intelligence, more than 36,000 practices were sold to hospitals and corporations between 2019 and 2021. As the costs and challenges of running an independent practice rise and Medicare physician payments drop, it’s becoming more difficult to maintain autonomy.

Collecting patient payments over the phone required multiple billing employees to make calls and was a labor-intensive, slow process. In addition, patients’ parents were often reluctant to share credit card information over the phone.