The Federal Consumer Financial Protection Bureau (CFPB) has announced changes to regulations that govern debt collection activities, including healthcare bad debt, which become effective November 30, 2021.
Now that a variety of COVID-19 vaccines have arrived and are slowly making their way into patient arms, it seems like the right time to begin strategizing on recovery as providers are looking to ways to build financially by increasing cash and lowering costs.
The coronavirus pandemic has challenged the healthcare industry in unanticipated and frankly unimaginable ways this year. As providers continue to stabilize their organizations, it is pretty clear that there is no going back to a pre-pandemic normal in terms of how they approach revenue cycle management.
To help providers develop and implement effective financial strategies, the AAHAM Fall Journal has published an article entitled Conquering Pandemic Losses with Artificial Intelligence for Revenue Cycle Management, authored by Jeff Nieman, CEO of Meduit.
Bronson Healthcare System has contracted with Meduit for revenue cycle management solutions that leverage artificial intelligence (AI) to resolve outstanding claims, determine eligibility and deliver documentation.
Meduit’s Market Share and National Footprint Continue to Grow
An estimated 5.4 million Americans lost their health insurance between February and May 2020 because of job losses due to the pandemic. This downturn in patient coverage occurred in spite of the fact that more patient encounters qualify for reimbursement than ever before due to the passage of the Affordable Care Act (ACA).
Artificial intelligence (AI) is a game-changer for the healthcare revenue cycle process. By leveraging solutions that incorporate AI, hospitals, health systems and physician practices can resolve accounts efficiently, accelerate revenue, reduce costs and stabilize finances.
Meduit has launched Meduit One – an automated, online, virtual collection agency specifically designed to meet the needs of physicians, dentists and veterinary clinics.
Topics: Meduit One
Meduit’s 2021 Net Promoter® Score (NPS) results are in from our clients with a rating of 50, which is considered excellent. To put this into context, Apple rated 47, Toyota 33, Microsoft 45, Nike 0, Disney -7, and American Express 29. (Source: Customer Guru, accessed 01.07.2021).