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Payments

“Lack of Urgency” Lags Healthcare Payments

February 22, 2019

A newly released research report from Business Insider Intelligence makes the case that, compared to other industries, the United State Healthcare industry has been slow to embrace new payment systems and processes. They point out, for instance, that approximately 77% of healthcare providers still use paper-based patient billing methods, according to an MGMA and Navicure…

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HIMSS19: The Year of Artificial Intelligence

February 15, 2019

This year’s education schedule at the HIMSS Conference, held this week at the Orange County Convention Center in Orlando, is awash in AI-related material, notes HealthCare Innovation in a post this week. To name a few: Session MLAI03, “Keynote: Synergies Between Man and Machine”; Session MLAI04, “State of the Industry: Machine Learning and Artificial Intelligence…

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The 2019 JP Morgan Healthcare Conference: “It’s the Platform, Stupid!”

January 18, 2019

As is his tradition, Dan Michelson, CEO of Strata Decision Technology, took his best shot at condensing the presentations he’d seen at the JP Morgan Healthcare Conference (last week in San Francisco). Over 40,000 players were in town from every corner of the healthcare ecosystem. However, if you want to hear the heartbeat of what’s happening at…

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Venmo Fraud Spike Strikes PayPal at Exactly the Wrong Time

January 15, 2019

The Wall Street Journal recently reported that Venmo sustained a transaction loss rate of 0.40% in March, up from 0.25% in January, according to internal PayPal documents they reviewed. As reported in Digital Transactions: The losses sent Venmo’s first-quarter operating loss to approximately $40 million, a 40% increase over what PayPal had expected, the documents revealed.…

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Survey: 26% of Hospitals Without Effective Revenue Cycle Management System

December 13, 2018

You read that right: About a quarter of all US hospitals — 26% — do not have an effective healthcare revenue cycle management solution in place, according to a new Black Book survey. According to RevCycle Intelligence, Black Book surveyed over 4,640 individuals from 522 hospitals and healthcare delivery networks regarding their use of 165 revenue…

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Patient Leakage Represents a 10% Revenue Loss to Healthcare Facilities

December 6, 2018

RevCycle Intelligence reports on a new survey that healthcare organizations are losing revenue because they are failing to properly manage referrals and patient leakage. Some of the report’s findings: There’s a gap between priority and action. Some 87% of healthcare executives say patient leakage is a high priority, but 23% don’t track leakage and 20% don’t…

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Syncing Revenue Cycle & Patient Experience

November 13, 2018

In today’s “retail medical market” with heightened RCM patient focus, improving a patient’s financial experience is a key to healthcare revenue cycle management success, according to the Senior Regional Director of Revenue Cycle at Ascension Healthcare. RevCycleIntelligence.com reports that the ability to implement self-service technology and give accurate price estimates is key to improving the patient experience…

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EHR Data: Protect and Serve!

October 26, 2018

Results of a recent a recent JAMA study as reported in EHR Intelligence reveal that a disturbing amount of hospitals fail to comply with federal and state regulations for patient EHR and paper health records requests. This is especially damaging in today’s healthcare retail climate, where patients understandably want to know what their costs are. Researchers made…

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Study: Almost One-Third of Hospitals Lack Revenue Cycle Tech or Automated Remittance Posting

October 18, 2018

A study from Eliciting Insights shows that, while adoption of revenue cycle technology is brisk, some medical facilities are hesitant to adopt automated remittance posting in spite of its proven ability to solidify the bottom line in challenging times. Based on survey responses from 179 hospital revenue cycle executives, here are some takeaways as reported on Becker’s Hospital CFO…

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Check Fraud: The Corporate World Provides a Big Target

October 16, 2018

While the consumer “civilian” world has pretty much learned and accepted the “don’t take checks from strangers” rule, the corporate world is both slow to adopt that guideline — and often unable to. This is due to the fact that suppliers like the “float” advantage they enjoy with check payments. (“We paid you on Tuesday…

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