Revenue Cycle / Finance Archives - HIT Leaders and News

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Revenue Cycle/Finance

Clinic Staffing Costs Growing Despite Some Stabilization

In AMGA’s new 2023 Clinic Staffing Survey, medical groups and health systems reported a median of 10% increase in staffing costs from 2022 to 2023 and that they continue to struggle with staffing levels.

Hospitals Experiencing Effects of Inflation and End of Public Health Emergency

Hospital finances broke even in April amid a continuing trend of high expenses and the unwinding of the Medicaid continuous coverage requirement of the COVID-19 public health emergency (PHE), according to the latest National Hospital Flash Report from Kaufman Hall.

Inbox Health Raises $22.5 Million Series B

Inbox Health, a leading patient billing communications platform, announced today that it has completed a $22.5 million Series B financing round, bringing total capital raised to more than $43 million since inception.

CodaMetrix Closes $55M Series A to Autonomously Power Medical Coding, Boost Health System Revenue Cycles

CodaMetrix, an AI technology platform transforming healthcare revenue cycle management, announced that it closed a $55 million Series A round led by SignalFire. Frist Cressey Ventures (FCV), Martin Ventures, Yale Medicine, University of Colorado Healthcare Innovation Fund, and Mass General Brigham (MGB) physician organizations also participated in the round. Chris Scoggins, Partner at SignalFire, will join the CodaMetrix Board of Directors.

Alabama Medical Billing Company Pays to Resolve False Claims Allegations

Vanessa Roberts Avery, United States Attorney for the District of Connecticut, and Phillip Coyne, Special Agent in Charge for the U.S. Department of Health and Human Services, Office of the Inspector General, and Jean Pierre Njock, Acting Special Agent in Charge of the New Haven Division of the Federal Bureau of Investigation, today announced that AMVIK SOLUTIONS, LLC (“Amvik”) has entered into a civil settlement agreement with the federal government and has paid $153,300 to resolve allegations that it submitted false claims for payment to the Connecticut Medicaid program for applied behavior analysis (“ABA”) services.

Northern Light Health and Optum Launch Strategic Relationship

Northern Light Health and Optum announced a strategic relationship to enhance the healthcare experience for patients and providers throughout Maine. As part of this relationship, select Northern Light Health employees will become part of Optum, providing them with new opportunities for growth and career advancement while they continue to support Northern Light Health.

Premier Issues Statement on the Extension of Bundled Payments for Care Improvement (BPCI) Advanced

Premier has been a long advocate for the movement from volume to value and supportive of alternate payment models that incentivize this movement. Today’s announcement from the Centers for Medicare & Medicaid Services Innovation Center (CMMI) extending the Bundled Payments for Care Improvement (BPCI) Advanced model for an additional two years is a welcome move that will allow current participants to continue in the program and new healthcare providers to join. Strong partnerships between health systems and specialists facilitate a team-based, coordinated model of care delivery that supports the continued movement to value-based care. By providing an ongoing means to engage specialists in population-based efforts, the BPCI Advanced model will continue to align incentives to innovate the care delivery process, reduce costs, and improve quality and patient satisfaction.

Medicare Shared Savings Program Saves Medicare More Than $1.6 Billion in 2021 and Continues to Deliver High-quality Care

The Centers for Medicare & Medicaid Services (CMS) announced that the Medicare Shared Savings Program, through its work with Accountable Care Organizations (ACOs) – groups of doctors, hospitals and other health care providers — saved Medicare money while continuing to deliver high-quality care. Specifically, the program saved Medicare $1.66 billion in 2021 compared to spending targets. This marks the fifth consecutive year the program has generated overall savings and high-quality performance results.

COVID-Related Challenges Resulted in Increased Adoption of Electronic Business Processes and Greater Opportunities for Future Savings

CAQH released the ninth annual report measuring the progress healthcare payers and providers are making to use electronic business processes. The 2021 CAQH Index found that adoption of electronic administrative transactions increased on average by 2.3 percentage points across the medical and dental industries. This shift was driven, in part, by the challenges of virtual work environments during the pandemic.

Advanced Pain Care Selects athenahealth to Optimize Operations and Support Growth

athenahealth and Advanced Pain Care announced a partnership that will support APC’s mission to deliver comprehensive, focused patient care while enabling the organization to drive operational and financial improvements across APC’s growing footprint.

2021 State of Healthcare Performance Improvement Report

The COVID-19 pandemic continues to undermine performance improvement efforts at hospitals and health systems across the country. Supply chain disruptions and shortages have driven up prices and forced a return to the costs of carrying larger inventories of needed supplies.

SSM Health and Optum Launch Innovative Collaboration to Make Quality Care More Accessible and Affordable

SSM Health and Optum, a subsidiary of UnitedHealth Group, announced an innovative collaboration focused on making quality care more accessible and affordable for people across the Midwest.

Making revenue cycle data actionable

When describing the amount of revenue cycle data available to healthcare organizations, many providers use words like “massive” and “daunting.” The reality is that providers have access to more data than ever before, yet they often don’t know what to do with it. There are literally hundreds of revenue cycle metrics that healthcare organizations can […]

How patient relationship management software cultivates sustained practice success

As with any business dependent on recurring revenue, healthcare practices are encouraged to engage with their patients and build relationships with them. As patients are becoming more responsible for the cost of their care, providing a high-quality patient experience is more important than ever. With so many methods to connect and engage with patients — […]

MACRA considerations for physicians in 2017

Written by: Joncé Smith Entering 2017 brings a huge degree of uncertainty amid major healthcare industry changes. In particular, the Medicare Access and CHIP Reauthorization Act (MACRA) holds several options for Medicare physician payment paths as healthcare providers interpret implications and exemption possibilities. MACRA replaces the old sustainable growth-rate (SGR) formula for physician payment, shifting […]

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