The Meduit Innovation Lab Blog

Meduit RCM

Recent Posts

Achieving the Right Balance of Technology for Maximum Financial Health

Posted by Meduit RCM on Nov 19, 2021 6:11:43 PM

With high deductible health plans taking a greater share of the health insurance market, it’s no surprise that patients are shouldering more of the financial burden for their medical care.

As a result, hospitals, health systems and physician groups are only collecting a portion of what patients owe on their medical bills. In fact, statistics show that providers are only collecting 20% to 55% of these revenues (Source: PitchBook).

That is exactly why Meduit is dedicated to developing and delivering revolutionary digital revenue cycle solutions. We have published a new digital checklist – Achieving the Right Balance of Technology for Maximum Financial Health – to help hospital, health system and physician group decision-makers identify the right digital technologies to turn accounts receivable into cash faster and maximize ROI.

We invite you to:

Read More

WRAL TechWire publishes Meduit story

Posted by Meduit RCM on Nov 5, 2021 1:51:14 PM

WRAL TechWire published an in-depth article about Meduit on Friday, November 5, sparked by Modern Healthcare naming Meduit one of the top three revenue cycle management companies in the country.

The article covers the arc of Meduit’s history from our beginnings with just a few hundred employees to today with over 1,600. We continue to enjoy strong organic growth plus expansion via acquisitions of seven quality RCM companies that are now part of the Meduit family, providing comprehensive revenue cycle solutions to hospitals, health systems and physician groups across the U.S.

For almost two decades, WRAL TechWire has covered technology-specific news of companies in the Carolinas – from start-up to multi-national organizations.

Read the full article here.

Contact:
Chris Cooney
407-921-6932
chris@wilmarkgroup.com

Read More

Charlotte-based Employer Meduit Named in Top Three Healthcare RCM Companies

Posted by Meduit RCM on Nov 2, 2021 10:00:00 AM

Charlotte, NC – Meduit, one of the country’s leading healthcare revenue cycle management (RCM) solutions companies, announced today that Modern Healthcare has named Meduit in the top three U.S. healthcare revenue cycle companies for 2021.

Every year, Modern Healthcare publishes its annual By the Numbers list of the top healthcare revenue cycle firms based on surveys of these firms. Modern Healthcare published its rankings list online on September 6.

“This recognition of Meduit’s growing size and strength reflects the company’s commitment to providing revenue cycle solutions to hospitals, health systems and physicians that ensure their financial health,” said Jeff Nieman, CEO. “We are honored to again be included in Modern Healthcare’s list of leading revenue cycle firms.”

Headquartered in Charlotte, NC, Meduit is a rapidly growing revenue cycle solutions leader with fourteen offices across the country with more than 1,600 employees. Meduit serves over 850 hospital, health system and physician group clients and manages over $56 billion in accounts receivable.

As healthcare providers across the country face financial issues exacerbated by the COVID-19 pandemic, Meduit has continued to raise the bar with its commitment to delivering efficient and effective revenue cycle solutions that lead to measurable, high-performing results.

Over the last year, Meduit has developed and launched digital solutions that leverage artificial intelligence and robotic process automation to advance efficiency, reduce cost and accelerate cash to the healthcare provider’s bottom line. Helping clients achieve financial resilience ensures that providers have the resources to continue delivering excellence in patient care.

About Meduit

Meduit is one of the nation’s leading revenue cycle solutions companies with decades of experience in the RCM arena, serving more than 850 hospitals and physician practices in 47 states. Meduit combines a state-of-the-art accounts receivable management model with advanced technologies and an experienced people-focused team that takes a compassionate and supportive approach to working with patients. Meduit significantly improves financial, operational and clinical performance, ensuring that healthcare organizations can dedicate their resources to providing more quality healthcare services to more patients. For more information, please visit www.meduitrcm.com.

Contact:
Chris Cooney
407-921-6932
chris@wilmarkgroup.com

Read More

Outsourcing for Effective Hospital Client Solutions, A Best Practices Guide for Healthcare Consultants

Posted by Meduit RCM on Oct 26, 2021 8:34:03 AM

Hospitals, health systems and physician groups are facing unprecedented financial challenges due to the impact of COVID-19. Healthcare consultants are in a key position to help these providers with strategies and solutions that empower them to recover financially and build a sustainable model for the future.

The right revenue cycle management (RCM) solutions and tools are central to a provider’s financial health. This is where Meduit can help. We provide consultants with a full suite of outsourced healthcare RCM solutions that are just right for hospital and health system clients.

Meduit has just published a new issue brief, Healthcare Consultants and Revenue Cycle Management: A Guide to Building Effective Hospital Client Solutions, to help consultants deliver state-of-the-art sustainable results. The issue brief includes in-depth strategies and real-world examples such as the one illustrated below to help consultants provide the best direction to clients.

One hospital improved its collections from 13% to 20% by leveraging AI tools that were easily integrated into the existing RCM operation. A patient financing program was also activated, delivering zero- to low-interest plans that drive patient payments.

In the example above, the healthcare consulting partner realized account relationship and financial upside across the successful implementation of this multi-product solution.

Click here to download our new issue brief and learn more about how partnering with Meduit can help you drive your clients’ success.

Read More

October 2021 edition of Meduit’s digital RCM magazine Cycle Up

Posted by Meduit RCM on Oct 21, 2021 11:58:29 AM

Throughout the pandemic, Meduit has been pounding the drum of artificial intelligence (AI) and robotic process automation (RPA) innovations combined with our tried-and-true revenue cycle solutions as ways to help healthcare providers of all types and sizes survive financially and position themselves for post-pandemic prosperity.

Read More

Don’t Write Off Bad Debt

Posted by Meduit RCM on Sep 23, 2021 8:00:00 AM

Meduit One is a virtual collection agency that resolves accounts and drives cash to the bottom lines of physician and specialist practices, dentist and veterinarians.

Read More

Topics: bad debt

Don’t Write Off Bad Debt

Posted by Meduit RCM on Sep 23, 2021 8:00:00 AM

Meduit One is a virtual collection agency that resolves accounts and drives cash to the bottom lines of physician and specialist practices, dentists and veterinarians.

By leveraging Meduit One, a 15-bed, short-term, acute care hospital in the Southwest reduced the average age of its unresolved accounts and expedited resolution of those accounts.

The hospital achieved:

Read More

The Challenges of Collecting on the Patient Portion of Medical Bills

Posted by Meduit RCM on Sep 15, 2021 8:00:00 AM

Meduit analyzed results driven by self-service-only technologies compared to a blend of self-service and human-based customer service/call center collections. A case study at a multiple-hospital health system revealed that after one year of self-service technology deployment, total patient cash increased by 13%. BUT there’s a catch.

Read More

Benefits of Meduit One’s Client Access Web

Posted by Meduit RCM on Aug 26, 2021 8:00:00 AM

Meduit One Full

 

Read More

Topics: Meduit One

The Challenges of Collecting on the Patient Portion of Medical Bills

Posted by Meduit RCM on Aug 11, 2021 8:00:00 AM

Meduit analyzed results driven by self-service-only technologies compared to a blend of self-service and human-based customer service/call center collections. A case study at a multiple-hospital health system revealed that after one year of self-service technology deployment, total patient cash increased by 13%.

Read More

Topics: AI