WELL';s CRH Medical Continues Digitization Progress with Strategic Investment in Graphium Health
WELL Health Technologies Corp.'s subsidiary, CRH Medical, has made a strategic investment in Graphium Health, a leading EMR provider for anesthesia practices. This investment is part of CRH's ongoing efforts to digitize and modernize its billing and back-office processes. A recent pilot project with Graphium demonstrated significant improvements, including a 58% reduction in time to capture billable charges and a 24% reduction in overall accounts receivable balance at pilot sites.
CRH plans to expand this initiative to at least 54 additional ambulatory surgical centers over the next three years. The investment aligns with WELL's original thesis for acquiring CRH, emphasizing the realization of digitization benefits across the CRH Medical platform. This strategic move is expected to drive improved collections and enhance data mining capabilities for better analytics across the platform.
La filiale di WELL Health Technologies Corp., CRH Medical, ha effettuato un investimento strategico in Graphium Health, un fornitore leader di EMR per le pratiche di anestesia. Questo investimento fa parte degli sforzi continui di CRH per digitalizzare e modernizzare i suoi processi di fatturazione e back-office. Un recente progetto pilota con Graphium ha dimostrato miglioramenti significativi, tra cui una riduzione del 58% nel tempo necessario per catturare le spese imponibili e una riduzione del 24% nel saldo complessivo dei crediti presso i siti pilota.
CRH prevede di espandere questa iniziativa a almeno 54 centri chirurgici ambulatoriali aggiuntivi nei prossimi tre anni. L'investimento è in linea con la tesi originale di WELL per acquisire CRH, enfatizzando la realizzazione dei benefici della digitalizzazione sulla piattaforma di CRH Medical. Questa mossa strategica è destinata a migliorare le raccolte e potenziare le capacità di data mining per una migliore analisi attraverso la piattaforma.
La subsidiaria de WELL Health Technologies Corp., CRH Medical, ha realizado una inversión estratégica en Graphium Health, un proveedor líder de EMR para prácticas de anestesia. Esta inversión forma parte de los esfuerzos continuos de CRH para digitalizar y modernizar sus procesos de facturación y administrativas. Un reciente proyecto piloto con Graphium demostró mejoras significativas, incluyendo una reducción del 58% en el tiempo para capturar cargos facturables y una reducción del 24% en el saldo total de cuentas por cobrar en los sitios piloto.
CRH planea expandir esta iniciativa a al menos 54 centros quirúrgicos ambulatorios adicionales en los próximos tres años. La inversión está alineada con la tesis original de WELL para adquirir CRH, enfatizando la realización de beneficios de digitalización en la plataforma de CRH Medical. Este movimiento estratégico se espera que impulse la mejora de las cobranzas y potencie las capacidades de minería de datos para obtener mejores análisis a través de la plataforma.
WELL Health Technologies Corp.의 자회사인 CRH Medical은 Graphium Health에 대한 전략적 투자를 진행했습니다. Graphium Health는 마취 관행을 위한 선도적인 EMR 제공업체입니다. 이 투자는 CRH가 청구 및 백오피스 프로세스를 디지털화하고 현대화하기 위한 지속적인 노력의 일환입니다. Graphium과 함께한 최근의 파일럿 프로젝트는 청구 가능한 수수료를 포착하는 데 걸리는 시간의 58% 감소와 파일럿 사이트의 전체 미수금 잔액의 24% 감소를 포함하여 상당한 개선을 보여주었습니다.
CRH는 향후 3년 동안 이 이니셔티브를 최소 54개의 추가 외래 수술 센터로 확장할 계획입니다. 이 투자는 WELL이 CRH를 인수하기 위한 원래의 주제와 일치하며, CRH Medical 플랫폼 전반에 걸쳐 디지털화의 이점을 실현하는 데 중점을 두고 있습니다. 이 전략적 조치는 개선된 수금과 더 나은 분석을 위한 데이터 마이닝 능력 강화를 주도할 것으로 예상됩니다.
La filiale de WELL Health Technologies Corp., CRH Medical, a réalisé un investissement stratégique dans Graphium Health, un fournisseur EMR de premier plan pour les pratiques d'anesthésie. Cet investissement fait partie des efforts continus de CRH pour numériser et moderniser ses processus de facturation et de back-office. Un récent projet pilote avec Graphium a démontré des améliorations significatives, notamment une réduction de 58 % du temps nécessaire pour capturer les charges facturables et une réduction de 24 % du solde global des comptes à recevoir sur les sites pilotes.
CRH prévoit de développer cette initiative à au moins 54 centres chirurgicaux ambulatoires supplémentaires au cours des trois prochaines années. Cet investissement est en phase avec la thèse initiale de WELL pour l'acquisition de CRH, mettant l'accent sur la réalisation des avantages de la numérisation au sein de la plateforme CRH Medical. Ce mouvement stratégique devrait faciliter les recouvrements et améliorer les capacités d'exploration des données pour une meilleure analyse sur la plateforme.
Die Tochtergesellschaft von WELL Health Technologies Corp., CRH Medical, hat eine strategische Investition in Graphium Health getätigt, einen führenden EMR-Anbieter für Anästhesiepraxen. Diese Investition ist Teil der fortlaufenden Bemühungen von CRH, seine Abrechnungs- und Backoffice-Prozesse zu digitalisieren und zu modernisieren. Ein kürzlich durchgeführtes Pilotprojekt mit Graphium zeigte signifikante Verbesserungen, einschließlich einer Reduzierung der Zeit zur Erfassung abrechenbarer Gebühren um 58% und einer Reduzierung des gesamten Forderungsbestands um 24% an den Pilotstandorten.
CRH plant, dieses Vorhaben in den nächsten drei Jahren auf mindestens 54 weitere ambulante chirurgische Zentren auszuweiten. Die Investition steht im Einklang mit der ursprünglichen These von WELL zur Akquisition von CRH und betont die Realisierung der Vorteile der Digitalisierung auf der Plattform von CRH Medical. Diese strategische Initiative soll die Eintreibung verbessern und die Datenanalysefähigkeiten für bessere Analysen auf der Plattform erhöhen.
- Strategic investment in Graphium Health to digitize and modernize billing processes
- 58% reduction in time to capture billable charges (5.6 days improvement)
- 24% reduction in overall accounts receivable balance at pilot project sites
- Plans to expand initiative to 54+ additional ambulatory surgical centers over 3 years
- Expected improvements in collections and data mining capabilities
- Nearly one-third of CRH Anesthesia's sites currently operate without an EMR, relying on paper-based systems
- CRH Medical has made a strategic investment in Graphium Health a leading EMR or Electronic Medical Records company focused on Anesthesia Practices. The investment is part of a Strategic Alliance designed to further digitize and modernize CRH's billing and back-office processes.
- Based on a recent pilot project with Graphium Health, CRH has demonstrated that it improved its time to capture billable charges by
58% or 5.6 days and reduced its overall accounts receivable (AR) balance at the pilot project sites by24% . - CRH has made numerous advancements to digitize its business since its acquisition by WELL more than two years ago resulting in several tangible business improvements including improving insurance and patient accounts receivable recovery, enhancing denial management performance, and expediting charge capture reconciliation.
CRH Medical, a subsidiary of WELL Health Technologies, announces a significant milestone in its pursuit of enhancing digitization across the CRH platform with the recent strategic investment in Graphium Health LP ("Graphium"). This investment marks a pivotal moment in CRH's history as it continues to prioritize technology enablement to deliver performance enhancement and improved patient experiences. In the fourth quarter of 2021, CRH embarked on a journey to transition its RCM service partners, aiming to modernize and optimize its overall RCM performance. This process revealed opportunities for CRH to leverage technologically enabled point solutions, including artificial intelligence (AI), process automation, data analytics, and patient-focused data science. Through these innovations, CRH is well on its way to transforming its RCM capabilities and disseminating these advancements throughout the broader WELL Health Technologies ecosystem.
To capitalize on these opportunities, CRH has recently made a strategic investment in Graphium Health LP, a leading provider of electronic medical record (EMR) solutions primarily serving anesthesia practices in both inpatient and outpatient settings across
Notably, nearly one-third of CRH Anesthesia's sites currently operate without an EMR, relying solely on paper-based systems. By implementing Graphium's software in these ASCs, CRH will achieve full EMR digitization across its entire platform, ensuring seamless integration and streamlined operations. CRH has made numerous advancements to digitize its business since its acquisition by WELL more than two years ago, resulting in several tangible business improvements, including improving insurance and patient accounts receivable recovery, enhancing denial management performance, and expediting charge capture reconciliation.
"We are thrilled to announce our strategic investment in Graphium Health. This transition to advanced technology solutions aligns perfectly with our commitment to improving performance and enhancing the provider and partner experience," said Jay Kreger, CEO of CRH. "By harnessing the power of artificial intelligence, process automation, and data analytics, we are empowering our team to deliver more accurate billing information, expedite charge capture reconciliation, and drive improved collections. This investment reinforces our dedication to digitization and innovation in healthcare technology."
The investment in Graphium Health aligns with WELL Health Technologies' original thesis for acquiring CRH Medical, emphasizing the realization of digitization benefits across the CRH Medical platform and helping "tech enable" care providers and their support personnel. Preliminary findings from the implementation of Graphium's software have demonstrated the potential for significant RCM improvements, including quicker and more accurate billing information. After broader implementation across CRH's ASCs, Graphium's software is expected to holistically drive improved collections and enhanced data mining capabilities to deliver better analytics across the platform.
WELL Health Technologies remains committed to driving digitization efforts at CRH Medical, empowering healthcare providers to deliver better and more efficient care to their patients. Through ongoing innovation and strategic investments, WELL, through CRH, further establishes itself as a leader in healthcare technology solutions.
For more information on CRH Medical, please visit: https://investors.crhsystem.com/
For more information on Graphium Health, please visit: https://graphiumhealth.com/
WELL HEALTH TECHNOLOGIES CORP.
Per: "Hamed Shahbazi"
Hamed Shahbazi
Chief Executive Officer, Chairman and Director
WELL is a practitioner-focused digital healthcare company. WELL's overarching mission is to positively impact health outcomes by leveraging technology to empower healthcare practitioners and their patients globally. WELL exists to enable healthcare practitioners with best-in-class technology and services. WELL has built the most comprehensive end-to-end healthcare system across
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SOURCE WELL Health Technologies Corp.
FAQ
What is the strategic investment made by CRH Medical, a subsidiary of WELL Health Technologies (WHTCF)?
What improvements did CRH Medical (WHTCF) demonstrate in their pilot project with Graphium Health?
How many additional ambulatory surgical centers (ASCs) does CRH Medical (WHTCF) plan to expand this initiative to?
What percentage of CRH Anesthesia's sites currently operate without an EMR system?
