Latest news and helpful tips for topics including automation, AI, reporting and analytics in medical billing, revenue cycle management, and solutions for patients.
RadNav, ImagineSoftware’s radiology workflow automation solution, is on a mission to reduce the number of referrals that go unnoticed and illnesses that go undiagnosed due to missed appointments – having a huge impact on both patients and healthcare providers.
"The reason this exists is because we saw a problem in health care, not just in radiology, but really across all of health care. One out of every two patients today are not receiving appropriate follow-up care. That's 50% of patients that are given a recommendation to do something by their doctor who are not doing it for one reason or another."
Rising health insurance deductibles and out-of-pocket costs are prompting more and more patients to realize they’re the new payer. According to Healthcare IT News, “The balance of billing revenue has shifted significantly, with patients now accounting for 30 percent of healthcare revenue on the back end.”
In turn, healthcare providers are increasingly focusing on strategies and tools to promote patient payments/engagement. There’s not a one-size-fits-all method for achieving this, but there are ways to humanize patient engagement to ensure these individuals don’t feel like just a number
The Centers for Medicare and Medicaid Services (CMS) recently published the Calendar Year (CY) 2024 Medicare Physician Fee Schedule (PFS) proposed rule on July 13, 2023. Stakeholders can comment and provide feedback within a 60-day window, with the proposed rule scheduled to be finalized by November 1, 2023, after review of submitted comments by CMS.
Futuristic technology is taking the world by storm, especially within the healthcare industry, from ChatGPT writing your next speech to Artificial Intelligence-based algorithms identifying early diagnosis of patients. (Disclaimer: ChatGPT was not used to write this blog.) The medical billing industry is no different, undergoing a major shift from manual tasks to adopting automation software and artificial intelligence (AI), creating an array of opportunities for healthcare providers to optimize their revenue cycle
Today’s healthcare professionals face traditional point-solution technologies for billing tasks, such as claims processing, denial management, and patient payments. However, as Bain & Company notes in their latest Healthcare Provider IT Report, the “tech stack” of poorly integrated software solutions is driving many organizations to refocus on “all-in-one" systems.