A number of speakers at this year's Healthcare Financial Management Association's conference urged health system financial executives to set aside their reservations and more fully embrace value-based purchasing.
Patient balance after insurance rose from 8% of the total bill responsibility in the first quarter of 2012 to 12.2% in the first quarter of 2017, which is inflating providers' bad debt.
The growing availability of personalized estimator tools makes it harder for hospitals to argue they shouldn't be required to publish prices, as the CMS wants.
Providers aren't using the standardized metrics and tech solutions needed to transition behavioral health into value-based pay models.
The venture aims to leverage machine learning and artificial intelligence to boost revenue and cash flow while lowering the cost of bill collecting. It's slated to launch this summer.
Outside of small contracts, R1 RCM hasn't announced major revenue-cycle clients it didn't already have ties with since its 2011 partnership with Intermountain Healthcare. Investors will closely watch Friday's financial release for signs the company, formerly Accretive Health, is on the rebound.
R1 RCM is acquiring fellow revenue cycle management company Intermedix Corp. in a deal worth $460 million.
Presence Health plans to partner with R1 RCM, a company affiliated with its probable future owner, for its revenue cycle operations. Under the pending deal, approximately 1,000 Presence employees will transfer to R1's payroll.
Bitcoin futures recently launched on a mainstream exchange. But the healthcare industry has been slow to adopt the cryptocurrency for anything more than paying ransom for breached data.
Sanford Health has set up kiosks in its clinics that estimate patients' out-of-pocket costs, a practice that has significantly increased upfront collections. Delayed payments have taken a toll on many health systems' bottom lines.
Not-for-profit providers' expense growth will likely continue to eclipse their revenue increases, as rising costs and downward pressure on reimbursement levels have a compounding effect over the years.
Story updated July 7, 2017.ORLANDO, Fla.—The rise of high-deductible health plans is driving one Missouri hospital to completely revamp patient registration, billing and collection.