In an era where digital progress is transforming every facet of the economy, healthcare is no different. Breakthroughs, particularly in telehealth and e-visits, offer the potential to make healthcare more accessible than ever. While these advancements bring significant promise, they also bring about fresh challenges, particularly in the realm of billing. A growing number of […]
Interoperability standards and AI wield significant influence over the revenue cycle, holding the potential to transform the financial landscape of healthcare establishments. In the constantly evolving realm of healthcare, the infusion of artificial intelligence (AI) has emerged as a game-changing force, promising to revolutionize patient care, diagnoses, and treatments. However, to fully harness the power […]
The adoption of workflow automation in the healthcare sector is on the rise for valid reasons. By alleviating healthcare providers from the burden of documentation and repetitive tasks, it allows them to focus on critical responsibilities that demand expertise and strategic thinking. Recent studies indicate that a significant portion of healthcare professionals spend between 26-41% […]
From the inception to the conclusion of the Revenue Cycle Management (RCM) pipeline, it is imperative for practices to implement enhanced analytics and streamlined workflows. Healthcare providers have grappled with the challenge of receiving proper compensation for their services, and the current reimbursement landscape presents even greater obstacles compared to previous years. Payors are persistently […]
In the ever-changing realm of healthcare coding, it is imperative for professionals to stay updated on the latest developments within the International Classification of Diseases, 10th Revision, Clinical Modification (ICD-10-CM). This dynamic coding system plays a pivotal role in recording diagnoses, conditions, and other vital health-related information. With the advent of artificial intelligence (AI) technologies […]
The principal of a healthtech venture capital firm asserts that the most promising AI innovation from an investment standpoint involves rendering business models feasible. Investment focus has now shifted towards AI for a healthtech and medtech venture capital firm, which administers a capital pool exceeding $800 million earmarked for healthcare and technology startups. The healthtech […]
In the coming decade, physicians and patients will grapple with intertwined challenges. A mounting need for physicians, projected to face a shortage of up to 124,000 professionals, coincides with evolving patient expectations favoring seamless digital interactions. How can medical practices navigate heightened patient demands amidst a diminishing workforce? Drawing from my experience collaborating with numerous […]
As the healthcare industry continues to evolve, healthcare revenue cycle management (RCM) has become increasingly important. In order to ensure financial stability and success, healthcare providers must stay up-to-date with the latest revenue cycle management tips and best practices. 6 Tips for Healthcare Revenue Cycle Management 2024 1. Embrace Technology Advancements in technology have revolutionized […]
Physicians are currently facing challenging times. The existing shortage of doctors, compounded by the pandemic, has exacerbated the patient-to-physician ratio. With an increase in patients, there’s a corresponding surge in administrative tasks for doctors. Consequently, this diminishes the time available for patient care and heightens stress levels among physicians. Furthermore, this situation often leads to […]
Implementing HIPAA Compliance Demands Multiple Measures from IT, with Added Complexity Due to Mobile Devices. Adhere to These Crucial Steps for Ensuring Mobile HIPAA Compliance Adhering to HIPAA necessitates a vigilant approach from IT administrators, and the presence of mobile devices can amplify this challenge further. HIPAA stands as an encompassing federal statute that defines […]