From a Tennessee hospital reporting a RCM vendor data breach, to Olive AI announcing it is unloading its business line to focus on health system RCM, here are 10 revenue cycle management headlines from February to know:
1. Private equity firms took a "significant interest" in revenue cycle management companies in 2022, according to a report from the Private Equity Stakeholder Project.
2. Healthcare artificial intelligence company Olive is cutting its utilization management service line and will focus on health system revenue cycle management.
3. Memphis, Tenn.-based Regional One Health notified patients that some of their confidential information may have been compromised in a data breach that affected its revenue cycle management vendor, Reventics.
4. R1 RCM CEO Lee Rivas said the company is investing in three primary goals to advance its technology in 2023.
5. R1 RCM saw revenues of $1.8 billion in 2022 but a net loss of $57.6 million.
6. KLAS Research named its "Best in KLAS" revenue cycle services and RCM tools for 2023.
7. Tenet Healthcare CEO Saum Sutaria, MD, took a moment during the company's fourth-quarter earnings call to recognize retiring Conifer Health Solutions CEO Roger Davis as a "selfless leader," as the revenue cycle management company will remain a subsidiary of the Dallas-based health system.
8. Conifer Health Solutions saw revenues if $1.32 billion in 2022, up from $1.27 billion in 2021.
9. Cleveland Clinic's interim CFO Tony Helton will return to his role as executive director of revenue when new CFO Dennis Laraway comes onboard March 13.
10. Norman (Okla.) Regional Health System will implement VisiQuate's artificial intelligence-powered Denials Management Analytics and Revenue Management Analytics.