Sub Industry: Healthcare Providers
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Aspen Valley Hospital increases cash on hand by 6X
The challenge: Pressing need to optimize the revenue cycle Aspen Valley Hospital (AVH), a 25-bed community hospital, caters to the healthcare needs of the local population in a remote area. With nearly 45K outpatient registrations and nearly 8K emergency visits, the hospital generates $102M in annual revenues. Because of its
3 ways to prioritize pre-service through digital patient engagement
Patient out-of-pocket costs have been trending upward for several years now. High-Deductible Health Plans (HDHP) account for 51% of the US workforce today. Now throw the global health crisis into the mix. A year after the initial outbreak, unemployment levels remain stubbornly elevated and one in four adults say they
3 ways automation can optimize small balance collections
Rising deductibles are shifting medical costs to patients, making it harder for patients to meet their out-of-pocket expenses, and in turn, putting Healthcare Providers at financial risk. According to the Kaiser Family Foundation research, the average annual deductible among covered workers has increased 36% over the last five years and
Automate remittance posting: Crank up your revenues
As the pandemic further compresses margins, Providers are increasingly asking the question: how can we improve the efficiency of Revenue Cycle Management (RCM) operations using technology? One clear possibility is automating Remittance Posting. According to the 2019 CAQH Index, the medical industry spent $6 billion on remittance advice (RA) processing,
Driving impact at scale with Intelligent Automation
Hospitals do everything they can to address the spike in healthcare demand and maintain their levels of service quality. But the reality is they continue to grapple with staffing shortages, supply chain interruptions, and communication/monitoring issues. Healthcare Providers are already constrained by tightening cash flows and shrinking revenues due to
Digital solutions that provide business continuity for hospital RCM during the pandemic and beyond
COVID-19 has changed how businesses operate as people are compelled to work from home.
Using digital patient engagement solutions to collect balances and improve customer satisfaction
The last decade has seen a seismic shift in the healthcare industry
Smart operations for the next wave of healthcare
Current economic challenges pose  a substantial burden on the healthcare industry already struggling with multi-faceted challenges — changing patient expectations, shifts in financial responsibility, increasing ecosystem complexity, and growing demands for robust health infrastructure. All key industry players — Hospitals, Physician groups, Health Plans and Health Services — must prepare
Reduce claims cost and risk with provider data management & credentialing
Cost-effectively and consistently improve your provider data accuracy with Firstsource, and reduce the cost, risk and complexity across departments and systems. Enhance member and provider satisfaction, and grow claims auto-adjudication rates.
Automating physician credentialing: Accelerating turnaround while minimizing costs, errors, and non-compliance
The traditional physician credentialing process is long and arduous, taking anywhere between 60 to 90 days, given the level of diligence required when appointing front-line healthcare service providers. Reviewing lengthy applications, conducting background checks, validating licenses and certifications, cross-checking peer references – all of it takes time but is critical
