OrboNation Newsletter: Healthcare Payments Edition – Apri 2022
2021 CAQH Index Report Reveals Progress in Adoption of Electronic
The Council for Affordable Quality Healthcare, Inc. (CAQH) recently released their 2021 CAQH Index Report, and it predictably reported that electronic claims management adoption increased in 2020 as healthcare providers shifted, whenever possible, to remote work environments in the face of COVID.
RevCycle Intelligence reported, however, that the Index shows healthcare providers still leaving billions of dollars on the table in potential savings.
Adoption of electronic transactions increased by 2.3 percentage points across the medical and dental industries in 2020, the ninth annual CAQH Index revealed. For the medical industry, those transactions included eligibility and benefit verification, prior authorization, claim submission, attachments, acknowledgements, coordination of benefits, claim status inquiry, claim payment, and remittance advice.
Avaneer Health CEO Stuart Hanson Talks Challenges and Trends of Blockchain in Healthcare
How serious is blockchain adoption in the healthcare industry? Consider this: $50 million in seed funding has been committed to the Avaneer Health network, funds which come from from several blue chip healthcare organizations.
As reported in Healthcare IT News, the new funding comes from founding network participants that include Aetna, Anthem, Cleveland Clinic, Health Care Service Corporation...
Industry Experts: Healthcare RCM M&A Trend Will Stretch Into 2022-2023
Over the past five years, mergers and acquisitions (M&A) within healthcare RCM have made headlines across news outlets. In fact, Justin Bentley, Managing Director–M&A and Head of Healthcare Technology at Citizens Bank, describes healthcare RCM M&A as a "white-hot sector" during the recent Healthcare Revenue Cycle Industry Brief & Opportunity Analysis Webinar...
58% of Healthcare CFOs Expect Increase in Adoption of Payments Digitization
Corcentric CEO Matt Clark talked to PYMNTS about moving healthcare, insurance, and financial services into the digital age.
The conversation came against a backdrop in which 71% of surveyed chief financial officers (CFOs) at finance and insurance companies and 58% of healthcare and medical company CFOs said they expect the digitization of their payments processes to speed up communication with customers.
Mergers & Acquisitions in Healthcare – What to Expect in 2022
According to a recent Kaufman Hall report, although overall hospital M&A dropped from 2020 to 2021, healthcare technology -- particularly RCM vendors -- saw a flurry of major, high-profile mergers & acquisitions.
In an article from healthleaders.com, two leading experts predict this trend of major mergers & acquisitions will continue.
"I would say that merger activity—call it merger mania if you want to— has kind of run its course [on the healthcare delivery side]," Michael Abrams, MA, managing partner at Numerof & Associates, told HealthLeaders. "[Last year] we saw fewer but larger deals, and we may see more of these in '22."
Experian Health: Healthcare Payments Overhaul in 2022 — Focus on the Patient
“Healthcare is one of the only industries where we go get a service and don’t know what our cost is going to be until sometimes months after that service has been delivered,” Jason Considine, senior vice president of Experian Health, told PYMNTS in a recent article examining the healthcare payments overhaul that we're seeing...
HIMSS TV Digital Check Up: Community Care Networks, AI and Blockchain Boost Value-Based Care
Bill Siwicki, feature editor for Healthcare IT News, spoke to Lynn Carroll, COO at HSBLOX, about the roles of blockchain, AI, and machine learning in value-based care.
Mr. Carroll noted that "20% of people can represent 80% of expenses." Therefor, you try to understand where areas are within your population that you might be able to address in terms of chronic disease - things that will keep people in their home and manage their chronic disease...