What We’re Reading: April 2023
Noteworthy news and analysis selected by Cloudmed RCM experts
Stop, Drop and Reenroll: How Medicaid Redeterminations, Renewals, and Disenrollment Can Affect the Revenue Cycle
MedCity News | April 3, 2023
A new study from the Nonpartisan and Objective Research Organization (NORC) at the University of Chicago found that in Florida alone, 1.4 million current enrollees are expected to lose Medicaid coverage during redeterminations this year. About a quarter of those are expected to become uninsured, significantly increasing the percentage of self-pay patients. Conversely, the study projects half of those dropped from Medicaid will get insurance through an employer, with another ten percent getting individual coverage through an exchange. The result may actually turn out to benefit providers for some interesting reasons. But that doesn’t mean the overall trend is promising by any means.
Will AI Help Companies With Compliance?
Forbes | March 28, 2023
AI used by a compliance team for things like checking for system errors can be especially advantageous for financial leaders. Financial organizations have a number of use cases for AI that could radically and positively change the entire industry. Back-office support functions such as trading efforts and portfolio analysis have all been given over to AI in many offices, freeing up financial professionals to do the work only humans can do. Leveraging AI, compliance managers and organizational leaders can achieve extra security, a series of very efficient checks and balances for compliance issues, and a complement to the human team of professionals.
Medical Coding Market to Reach $15.3B by 2033, Report Finds
HIT Consultant | April 3, 2023
The medical coding market will likely receive a $6.7B valuation in 2023, with continuing growth expected, reflecting the continued advancement of the country’s healthcare infrastructure and an impressive increase in demand for high-tech data management, automation, and coding solutions. The increasing availability of a large number of medical coding service providers and the rising adoption rate of electronic health records (EHRs), revenue cycle management (RCM) software, and mobile health apps in routine hospital operations is driving medical coding market growth. North America is expected to dominate the medical coding market due to the increased prevalence of various diseases and presence of key market players in the region.
ViVE Brings Together the C-Suite to Tackle Healthcare’s Challenges
HealthLeaders | March 31, 2023
Workforce issues, from staffing and provider shortages to burnout and stress reduction, as well as security, revenue cycle development, and business automation, were on everyone’s agenda. Telehealth, remote patient monitoring, digital health tools, AI, and solutions specifically designed to help nurses were also top of mind. Among the platforms gaining the most interest were virtual nursing programs, acute care and Hospital at Home, AI services for back-end operations and programs to address staff stress and burnout. Find out what everybody was talking about at one of the newest must attend events for innovative healthcare leaders.