What You Should Know: - CodaMetrix, a provider of artificial intelligence (AI) solutions for healthcare revenue cycle management, has announced the successful closing of its $40 million Series B funding round led by Transformation Capital with participation from existing investors SignalFire, Series A lead, and Frist Cressey Ventures. - The Series B funding round will fuel further development of CodaMetrix's AI-powered platform, designed to streamline medical coding, improve data quality,
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Revenue Cycle Management | News, Analysis, Insights - HIT Consultant
Frazier Healthcare Acquires RevSpring to Bolster Payment Solutions in Healthcare
What You Should Know: - Frazier Healthcare Partners, a leading healthcare investment firm, announced today the successful acquisition of RevSpring. - RevSpring, a provider of end-to-end communication and payment solutions for healthcare and financial services companies, will join Frazier's portfolio. Frazier's Investment Fuels RevSpring's Future The acquisition brings together RevSpring's established presence in the communication and payment solutions market with Frazier's deep
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R1 RCM Forms Special Committee to Evaluate $5.8B PE Firm Buy-Out Offer
What You Should Know: - R1 RCM Inc. (NASDAQ: RCM), a provider of healthcare revenue cycle management solutions, announced the formation of a special committee comprised solely of independent directors. - The new committee will evaluate strategic options for the company in response to a recent $5.8B buy-out offer from private equity firm New Mountain Capital. Responding to New Mountain Capital On February 26, 2024, New Mountain Capital filed a Schedule 13D/A with the Securities and
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Change Healthcare Attack: UHG Announces Restoration Timeline & Provider Relief
What You Should Know: - UnitedHealth Group (UHG) announced today significant progress in restoring Change Healthcare systems following a cyberattack that disrupted healthcare claims and payment processes nationwide. - UHG urges all payers to adopt similar funding programs to address the critical short-term cash flow needs of healthcare providers. Restoration Timeline Pharmacy Services: Electronic prescribing, claim submission, and payment transmission are fully operational as of
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DeepScribe and AWS Partner to Advance AI-Powered Medical Documentation
What You Should Know: - DeepScribe, a pioneer in AI-powered medical documentation, today announced a collaboration with Amazon Web Services (AWS) aimed at accelerating the secure scaling of large language models (LLMs) within the healthcare sector. - The strategic partnership will integrate AWS HealthScribe into DeepScribe's platform, fueling the development of even more advanced AI-assisted clinical documentation solutions. Scale Generative AI in Healthcare DeepScribe utilizes a
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CPSI Rebrands as TruBridge, Unifying Solutions for a Streamlined Future in Healthcare
What You Should Know: - CPSI (NASDAQ: CPSI) announced a strategic rebranding, transitioning to TruBridge, Inc. ("TruBridge") effective March 4, 2024. - The rebrand reflects a commitment to streamlining its offerings, strengthening its market presence, and driving future growth by creating a unified identity. A Unified Vision for Healthcare Solutions The new name, TruBridge, reflects the company's commitment to building a bridge between efficient financial management and quality
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Maverick AI and ImagineSoftware Partner to Automate Medical Coding with Gen AI
What You Should Know: - Maverick Medical AI ("Maverick"), a provider of an autonomous AI-powered medical coding platform, today announced a strategic partnership with ImagineSoftware, a provider of revenue cycle management (RCM) technology in the United States. - The strategic partnership aims to automate the coding process, maximize revenue recovery, and optimize workflows for healthcare providers nationwide. The Challenge: Manual Coding in a Digital Age The healthcare industry
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Anatomy Launches AI-Powered Financial Automation for Healthcare Orgs
What You Should Know: Anatomy Financial announces the launch of their AI-powered financial automation solutions for medical, dental, digital health, and healthcare billing companies.Anatomy has raised $7.6M in funding to build a financial operating system for healthcare from Lightspeed, Meridian Street Capital, Live Oak Ventures, Cambrian Ventures, Peterson Ventures, and angel investors with expertise across healthcare and fintech. Streamlining Healthcare Finance: Anatomy's Automated
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RapidClaims Emerges from Stealth with $3.1M to Tackle Healthcare Claim Denials with AI
What You Should Know: - RapidClaims, a healthcare technology startup focused on automating medical coding and reducing claim denials, has officially exited stealth mode after securing a $3.1M seed funding round. The seed round was led by Together Fund, a $250 million global SaaS fund, with participation from Better Capital, Neon Fund, Peercheque, DeVC with angels and advisors coming from prominent US healthcare organizations including Oscar Benavidez (Executive Director, Mass General), Ankit
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2024: The Year of Smarter Automation and AI in Healthcare Revenue Cycle
Artificial intelligence (AI) dominated the headlines in 2023. It was the topic of countless articles, reports and even court cases. Some may be fatigued by it, or even afraid of it, but the reality is AI is here to stay in 2024. The best thing we can all do is learn how to leverage it to make our jobs easier. In fact, after decades of slogging through manual processes, healthcare organizations are joining the movement and implementing automation and AI solutions to improve revenue cycle
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