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Change Healthcare Closes the Revenue Cycle Analytics Gap with New Patient Access Capability

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"When it comes to optimizing the revenue cycle, you can't resolve issues that you're not aware of," said Marcy Tatsch, senior vice president and general manager, Reimbursement and Analytics Solutions, Change Healthcare. "Most providers are not getting the complete picture from their analytics tools. We've invested in a new version of Acuity Revenue Cycle Analytics, now with critical patient access capabilities, including eligibility, estimation, pre-authorization, and medical necessity, to help our customers analyze the entire revenue cycle continuum, and let them reconcile back-end financial outcomes with front-end processes." One reason why revenue cycle managers struggle to optimize their processes is because they lack the ability to analyze how revenue flows through every phase of the cycle and what is slowing it down. That's because most providers have insufficient analytics or may only be able to analyze siloed segments of the revenue cycle.



Change Healthcare expands revenue cycle analytics with new platform

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Change Healthcare has unveiled a new version of its Acuity Revenue Cycle Analytics that will will enable users to track and gather data across the revenue cycle continuum. Change's move to boost revenue cycle solution comes at a time when such products are in high demand, as hospitals strive to grab every dollar and either maintain or grow margins and footprints. Healthcare organizations are poised to spend more than $90 billion worldwide by 2022, an outlook spike from about $51 billion in 2017, according to a recent Research and Markets report. So it's not surprising that startups such as Recondo and Payformance introduced new rev cycle tools earlier this year while bigger players such as Cognizant bought Bolder Healthcare Solutions to round out its RCM portfolio earlier this year. Hospitals use such tools to optimize collections, cut insurance claims denials, expedite the explanation of benefits and improve the quality of information sent to patients.


Artificial Intelligence (AI) - A Boost To Better Manage Healthcare Revenue Cycles

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The global pandemic resulted in numerous changes in healthcare, both in terms of practice and behind-the-scenes procedures. As we head into the new normal where technology has become the way of life, healthcare organizations are rethinking their strategies, thus making artificial intelligence (AI) in healthcare and revenue cycle management a hot topic. It is no mystery that revenue cycle management has gotten more challenging. Increased patient financial responsibility, convoluted payer contracts, and the shift to value-based payments are just a few of the factors that make RCM more difficult. AI is no longer just a buzzword in the revenue cycle; it is a strategy leveraged to enhance the efficiency of RCM and the associated outcomes.


5 ways to modernize the revenue cycle: The healthcare revenue cycle has become even more complex in recent years for several reasons, including increased patient financial responsibility, more complicated payer contracts and greater regulatory demands. As a result, providers across the nation have been forced to change their approaches to revenue cycle management.

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The healthcare revenue cycle has become even more complex in recent years for several reasons, including increased patient financial responsibility, more complicated payer contracts and greater regulatory demands. As a result, providers across the nation have been forced to change their approaches to revenue cycle management. Despite attempts to modernize the revenue cycle to meet these new demands through strategies like adding bolt-on technologies or hiring new talent, many healthcare organizations still struggle with outdated processes in the revenue cycle which creates expense, waste, risk and inefficiencies, according to Carrie Moneymaker, MBA, vice president of solution design at Zotec Partners. "It doesn't matter what organization … the revenue cycle is outdated in some way, shape or form," Ms. Moneymaker said during a presentation at Becker's Hospital Review's 5th Annual Health IT Revenue Cycle Conference in Chicago Oct. 11. "You don't want these processes to be outdated as it costs money, it is risky, it breeds chaos, and it doesn't make your patients happy. Building patient loyalty is critical in this consumer driven digital age. Now is the time to evaluate your revenue cycle."