A few decades ago, healthcare lagged well behind banking, retail and other industries when it came to digital transformation. Passage of the Health Information Technology for Economic and Clinical Health (HITECH) Act in 2010 put healthcare providers on the path for adoption and meaningful use of health IT. According to the Office of the National Coordinator for Health Information Technology (ONC), only 9% of non-federal acute care hospitals and 17% of office-based physicians had adopted EHRs in 2008. By 2021, those numbers hit 96% and 78% respectively. The journey has not been easy. When healthcare providers began making the switch… Read entire article here
December 1, 2022
Why Prior Authorization Software Is the Revenue Stream Multiplier You Want
by Susan Lawson-Dawson | Healthcare Technology
As a Software as a Service (SaaS) provider, you’re probably quite familiar with the Rule of 40. As McKinsey & Company explains, the Rule of 40—that a company’s growth rate plus free cash flow rate should equal 40% or more—is a “... favorite of SaaS industry watchers, including boards and management teams, because it neatly distills a company’s operating performance into one number.” Unfortunately, McKinsey research also suggests that only 33 percent of SaaS organizations hit that mark and even fewer sustain it long term. Exceeding the 40% mark is even more rare, with only 16% going above and beyond.… Read entire article here
November 21, 2022
Talking Turkey: How Prior Authorization Software Satisfies Everyone at the Table
by Susan Lawson-Dawson | Prior Authorization
Traditions reign supreme this week. Sharing Thanksgiving dinner with family and friends. Shopping your way through Black Friday, Small Business Saturday, and Cyber Monday. Volunteering and donating on Giving Tuesday. But in healthcare, there’s a tradition in desperate need of an update: manual prior authorization. No need to go through the laundry list of prior auth problems. After all, you experience them every day. Instead, let’s look at how prior authorization software automates the process and how it benefits providers, payers, and patients alike. Prior Auth Software Handles the Heavy Lifting Compare the typical prior authorization process with an automated… Read entire article here
“Rising demand for centralization and streamlining of healthcare administration is also anticipated to drive the market for electronic health records,” writes Grand View Research in its market analysis on EHR solutions. Healthcare revenue cycle providers face a similarly rosy picture for market growth. But the potential for growth also means increased competition. Integrating prior authorization software in your platform could be a force multiplier for your business. Why? Take a look in our eBook: The Build vs. Buy Decision or read on for a sneak peak at some of the topics covered. . Your Customers Want & Need It Prior… Read entire article here
