OrboNation Newsletter: Healthcare Payments Edition – January 2022
Aetna Announces Transition to Fully Electronic EOBs in 2022
In the complicated world of healthcare payments and remits, the desire to achieve a straight-through posting process is at the forefront -- and eliminating paper is a priority. The elimination of paper can be achieved via full electronic payment adoption, paper digitation, and/or paper electronification.
In a move to eliminate paper EOBs, Aetna -- one of the largest health insurance corporations and payers in the USA -- recently announced that it will transition to an all-electronic payment and remittance process, according to a California Medical Association news post.
The payor said it plans to transition to the exclusive use of electronic remittance advices (ERA), electronic funds transfer (EFT) and electronic explanation of benefit (EOB) statements for all participating and non-participating providers by September 2022.
Turning Heads: R1 RCM Acquires CloudMed for $4.1B
Big news in the healthcare RCM industry comes to us via a joint press release: R1 RCM has agreed to acquire Cloudmed.
The details of the agreement are outlined in the press release: R1 RCM Inc. today announced that it has entered into a definitive agreement to acquire Cloudmed, an all-stock transaction. The transaction values Cloudmed at approximately $4.1 billion...
2022: Seven Predictions for Healthcare
With the final days of 2021 winding down, Fierce Healthcare has interviewed more than two dozen healthcare stakeholders to get their 7 predictions for healthcare in 2022.
A common theme throughout these predictions is the prominence of technology. Let's take a deeper dive into the predictions...
Kaufman Hall Research Reports 75% of Providers Experience Rev Cycle Issues
Kaufman Hall management consulting recently released their report entitled 2021 State of Healthcare Performance Improvement Report: COVID Creates a Challenging Environment. The report takes a look at many of the struggles that hospitals are facing, along with providing actionable items for hospitals and healthcare systems to consider to ensure that they are able to weather the storm...
Did Hospital Operating Margins Fall 80% Below Pre-Pandemic Levels in Q4?
As the healthcare industry is in the midst of recovery, Healthcare IT News spoke to Diana Allen, CEO of the SSI Group, which markets a revenue cycle management solution for providers and payers, for her expertise on how the pandemic has altered healthcare operations.
One of the primary topics covered was the impact the pandemic...
OrboGraph Recognized as 2021’s Top 10 Healthcare Interoperability Solution Company
As 2022 begins, we are proud to be included in Healthcare Tech Outlook's list of Top 10 Healthcare Interoperability Solution Companies for 2021.
As we've noted in both Modernizing RCM with AI and the OrboNation Healthcare Payments blogs, Interoperability continues to be a point of emphasis in the healthcare...
Out of Network COVID-19 Hospitalizations Can Cost Over $100K
Adding to the various burdens that COVID-19 has placed on world economies and the population in general, RevCycleIntelligence reports that, when delivered outside of a patient’s network, COVID-19 hospitalizations can cost hundreds of thousands of dollars depending on where a patient is a treated...