HFMA Aligns with FinThrive to Introduce the Industry’s First Revenue Cycle Management Technology Adoption Model for Health Systems
The Healthcare Financial Management Association (HFMA) announces a strategic alliance with FinThrive, Inc., a healthcare revenue cycle management software-as-a-service (SaaS) provider, to co-launch a peer-reviewed, five-stage Revenue Cycle Management Technology Adoption Model (RCMTAM) designed to help health systems leverage industry benchmarks to assess their current state of RCM technology maturity and build best-practice plans to optimize revenue cycle outcomes.
Report: U.S. Hospitals Face Diminished Reserves, Mounting Reimbursement Challenges
Payment denials by Medicare Advantage plans jumped 56% for the median health system between January 2022 and June 2023, contributing to a 28% decline in median cash reserves, according to the latest analysis of data from over 1,300 hospitals and health systems by Syntellis Performance Solutions and the AHA.
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.
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.