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Change Healthcare's study reveals that AI will significantly reshape revenue cycle management in healthcare over the next three years. Currently, 65% of hospitals use AI in revenue cycle management (RCM), with expectations that 98% will adopt it widely by 2023. However, disparities in AI familiarity exist among executives, with only 12% seeing their AI initiatives as mature. Concerns around budget, security, and accuracy still hinder adoption, highlighting the need for strategic alignment among healthcare leaders to harness AI’s full potential.
Change Healthcare (Nasdaq: CHNG) introduced two new solutions aimed at assisting healthcare providers in meeting CMS price transparency requirements. The Shop Book and Pay™ module allows patients to access pricing for various healthcare services, while the Clearance Estimator Patient Direct offers financial estimates for out-of-pocket costs. With strict regulations in place, including penalties for noncompliance, these tools aim to enhance patient experience and provide healthcare systems with a competitive edge. The company emphasizes the importance of price transparency in empowering consumer choices.
Optum and Change Healthcare have announced a merger aimed at enhancing health care connectivity through advanced technology and analytics. The agreement involves acquiring Change Healthcare’s shares for $25.75 each, pending shareholder and regulatory approvals. The merger is expected to benefit UnitedHealth Group’s earnings per share significantly in 2022 and beyond. Key advantages include improved clinical decision-making, reduced administrative waste, and faster payment systems. Change Healthcare’s CEO, Neil de Crescenzo, will lead the merged entity, OptumInsight.
Change Healthcare (Nasdaq: CHNG) has launched its first suite of cloud-based medical tools for radiologists, enabling enhanced access to patient imaging data and aiding in accurate diagnoses. The new capabilities utilize AI technology and facilitate secure delivery across devices. The suite includes features such as centralized data access, browser-based upgrades, and improved image-sharing capabilities, thereby increasing workflow efficiency. The launch aligns with the growing demand for cloud solutions in healthcare, accelerated by the pandemic.
Change Healthcare (Nasdaq: CHNG) has partnered with Carnegie Mellon University's Delphi Research Group to enhance the COVIDcast platform with de-identified COVID-19 claims data. This collaboration aims to provide real-time, county-level indicators of COVID-19 symptoms and trends. Delphi, utilizing diverse data sources, will gain crucial insights to aid public health understanding and response. The integration of claims data is expected to enhance forecasting and community-level health analyses.
Change Healthcare (Nasdaq: CHNG) announced the sale of its Capacity Management business to HealthStream, reinforcing its commitment to focus on core business areas. This transaction aims to enhance growth and innovation through the Change Healthcare platform. The Capacity Management business, known for its nurse staffing and patient flow solutions, will benefit from HealthStream's expertise. The sale is subject to customary closing conditions and is expected to finalize soon, with William Blair acting as financial advisor to Change Healthcare.
Change Healthcare has been awarded the 2020 North American Customer Value Leadership Award by Frost & Sullivan, recognizing its Enterprise Imaging Network™ (EIN) platform. The EIN platform facilitates a volume-to-value transformation in healthcare by utilizing advanced digital technologies like machine learning and natural language processing, enhancing patient outcomes. It also offers solutions like EIN Archive and EIN Analytics, ensuring top-tier security. This award highlights Change Healthcare's commitment to improving customer value and operational efficiencies in the healthcare sector.
Change Healthcare (Nasdaq: CHNG), a top independent healthcare technology firm, will engage in two virtual fireside chats. The first chat is for the Piper Sandler 32nd Annual Virtual Healthcare Conference, with a pre-recorded session available on November 23, 2020. The second event is the Guggenheim Digital Health Virtual Summit, scheduled for December 8, 2020, at 1:15 p.m. Eastern Time. Webcasts and recordings can be accessed on their Events and Presentations page for 90 days after each conference. Change Healthcare aims to enhance the U.S. healthcare system through data-driven solutions.
Change Healthcare (NASDAQ: CHNG) has launched a new national data resource called Social Determinants of Health (SDoH) Analytics, connecting life circumstances to healthcare outcomes. This innovative solution targets barriers like food security and housing, which influence 80% of health outcomes. The SDoH Analytics provides healthcare organizations valuable insights into patient outcomes by linking deidentified claims data with socio-economic factors. This comprehensive tool aims to reduce healthcare costs and improve patient care across diverse populations.
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