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Stanford University’s 2021 AI Index Report is now available, and it goes into significant detail regarding Computer Vision, which is integral to the sorts of recognition tasks important in fraud detection and EOB processing.
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A recent article from RevCycleIntelligence.com focuses on a new report published by Deloitte — and the predictions are a stark contrast to the current business model for healthcare. In a new report, experts estimated that healthcare spending will be $83 trillion by 2040, about $3.5 trillion less than what CMS actuaries estimate using their own methodology.
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Key4Women, an organization dedicated to supporting the financial progress and empowerment of business women, presented a terrific, highly useful discussion of the latest in fraud threats and how to protect yourself at home and in the office with best practices shared from industry experts.
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Hindsight is 20/20, but it turns out that many medical practices and providers didn’t put into motion much digital preparation pre-pandemic, and that places them in a current payments predicament. This is according to Colin Mellon, senior vice president of Healthcare and Insurance Solutions at Fiserv. During a PYMNTS TV Trend Talk, Mellon noted that “the pandemic…
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Trade Finance is recognized as a vital tool to fuel global growth and support the world economy, but, as pymnts.com notes, it is far from a perfect instrument. For decades, trade finance has been caught in a web of paper-based documents, creating bottlenecks and friction at nearly every point of the process, from onboarding to financing payouts. As the industry pushes to modernize, it’s also facing scrutiny over its relationship with credit risk. Critics argue that some trade financing products have actually encouraged large corporates to pay their vendors late or force those suppliers into expensive financing arrangements. At the same time, as witnessed in the ongoing Greensill Capital saga, the success of trade finance largely relies upon insurers’ ability to cover for losses in the case of non-payment.
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In a story from The Boston Globe, we learn about a counterfeit check scheme involving recruitment (and intimidation) of homeless and transient people from Providence to commit fraud in Maine, Massachusetts, Rhode Island, and Connecticut. This was not a pandemic-related scheme; the four suspects began their scam in the fall of 2018, cashing or attempting to cash 450 counterfeit checks amounting to an estimated $450,000, according to an affidavit filed in U.S. District Court in Providence.
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For healthcare providers, the decision of whether to handle revenue cycle management internally vs. outsourcing the function is not something be taken lightly. While there are pros and cons for each choice, the COVID-19 pandemic has complicated the decision even further. Medical Economics features an in-depth conversation with Anurag Mehta, president and co-founder of Omega Healthcare, about various impacts of COVID and how medical practices should adapt and rise to the challenge.
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Forbes took a look at new research from Cornerstone Advisors and found that that more than three-quarters of Americans who have a smartphone are now mobile banking users. Mobile banking adoption is approaching ubiquity among Gen Zers and Millennials (ages 21 to 40) with 88% of each of the two generations accessing their bank accounts using a mobile device. The adoption rate dips just a bit to 78% among Gen Xers (41 to 55 years old), and then drops to 57% of Baby Boomers and 41% of smartphone-owning Seniors.
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“Wonder when I’ll get my stimulus check? Unfortunately, some Washington state residents are out of luck for a while. They are being warned to be diligent about monitoring mailboxes after police found more than 100 pieces of stolen mail — including some stimulus checks — in a vehicle in Olympic National Park.
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BusinessWire.com notes that what was once simply good, forward-looking policy and practice has now become essential in the age of COVID-19 — “adoption of digital and accelerating the existing trend among providers and payers seeking to enhance operations, cut costs and better engage with stakeholders,” according to a new report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm (Customized versions of the report are available from NTT DATA, Persistent Systems and UST.)
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