COVID-19 has prompted health care executives to analyze their spending more carefully to ensure a healthy profitability. 78% of executives plan to transform current manual processes to more digital and automated processes, allowing for the strategic use of human capital Read more…
MIT Principal Research Scientist, George Westerman, states “digital transformation marks a radical rethinking of how an organization uses technology, people, and processes to fundamentally change business performance.” During a presentation for HIMSS20 Digital, Cheryl Rodenfels, CTO of Americas Healthcare at Read more…
Medical group and health system executives believe it will take at least a full year to recover from the revenue losses due to COVID-19, according to a survey conducted by the American Medical Group Association (AMGA). The survey of 95 Read more…
Key Performance Indicators (KPIs) are used to measure how an organization or department is performing. Companies often evaluate and analyze their business processes against industry standards to see if there is room for improvement. With the help of industry leaders, Read more…
The financial impact of COVID-19 on hospitals and health systems has caused healthcare executives to rethink the way they handle their hospital’s financials. A recent survey conducted by Black Book found that although all of the healthcare CFOs surveyed acknowledge Read more…
Improved medical claim management has been a necessity in the healthcare industry for some time. According to an article in Becker’s Hospital Review, a study showed that 62% of the healthcare executives interviewed noted declining reimbursements to be the most Read more…
There is no doubt COVID-19 has brought uncertainty across all areas of life. From a rising unemployment rate to extended stay-at-home orders, American citizens are wondering how to prepare for the “new normal.” Hospitals and health systems are at the Read more…
What is Artificial Intelligence? Artificial Intelligence (AI) is defined as computers imitating “intellectual processes characteristic of humans, such as the ability to reason, discover meaning, generalize, or learn from past experience” with the ability to achieve goals. AI in healthcare Read more…
Healthcare providers have access to the Department of Health and Human Services (HHS)’s Providers Relief Fund, of approximately $100 billion, through the Coronavirus Aid, Relief, and Economic Security (CARES) Act (PL 116-136). The Providers Relief Fund assists healthcare providers with Read more…
Medical coding is a standardized method to assign alphanumeric codes for medical diagnostics, surgical and external procedures to generate billing for an episode of care. Medical coding professionals translate the medical records and providers’ notes to create a claim to Read more…