From a hospital delaying its Epic installation due to an RCM change to what three health system leaders see as the biggest challenges right now, here are eight revenue cycle management headlines Becker's reported in August:
1. Prior authorization, government regulations and payer relationships are among the challenges three Healthcare Financial Management Association MAP-award-winning revenue cycle leaders told Becker's they are facing right now.
2. Automation, machine learning and generative AI are among the things three revenue cycle leaders told Becker's they are most excited about right now.
3. More than one-third of health system executives are planning to automate two or more revenue cycle management or financial functions in 2024, according to a survey by the Healthcare Financial Management Association and Eliciting Insights.
4. Olive AI is being sued by a state economic development arm over allegations the healthcare tech company missed hiring goals it was supposed to meet in exchange for incentives.
5. Becker's published a list of 30 revenue cycle and health IT up-and-comers rising into leadership roles that affect their organizations' growth, financial operations and outcomes.
6. Epic's RCM software has the highest number of hospital installations, according to an Aug. 1 report from the data analytics company Definitive Healthcare.
7. Gillette, Wyo.-based Campbell County Health is delaying the implementation of its Epic EHR system as it ends its contract with its RCM provider, Ensemble Health Partners. The decision to transition end-to-end revenue cycle managed services back to CCH was mutually agreed upon by both parties.
8. R1 RCM posted revenues of $560.7 million in the second quarter of 2023, up $168.8 million — or 43.1 percent — over the same period last year, according to the revenue cycle firm's Aug. 2 financial report.