From R1 RCM's latest acquisition to KLAS Research naming Waystar the highest-rated platform of 2023, here are seven revenue cycle management headlines from December to know:
1. Waystar is the most highly-rated healthcare RCM platform in terms of overall performance, according to a new report from KLAS Research.
2. Most hospitals and health systems (74%) are actively automating some portion of their revenue cycle operations with 46% of organizations using some form of artificial intelligence, according to a report from Akasa.
3. Adrienne Moore, DrPH, revenue cycle vice president at Phoenix-based Banner Health, spoke to Becker's about her proudest accomplishment in 2023.
4. The Healthcare Financial Management Association and healthcare technology firm Xsolis are creating an executive revenue integrity council.
5. Initial claims denials are up more than 18% since 2020, according to a revenue cycle benchmarking report from Kodiak Solutions, formerly Crowe.
6. R1 RCM is acquiring revenue cycle management company Acclara from Renton, Wash.-based Providence.
7. R1 RCM completed the restatement of previously issued financial statements after it previously identified "errors related to the accounting for certain acquiree compensation costs (e.g., transaction bonuses and accelerated equity award vesting) incurred as a result of historical acquisitions."