Candler st joseph hospital

Dive Brief: Providence St. Joseph Health has acquired Lumedic, a blockchain-enabled revenue cycle management platform based in Seattle, for an undisclosed sum. Lumedic's next-generation platform uses distributed ledger technology, smart contracts and machine learning with the aim of selling to providers and payers looking to increase efficiencies and reduce costs. The deal makes Providence St. Joseph the first integrated provider-payer system with a scalable blockchain tool for RCM, the nonprofit system said Monday at HIMSS 2019 in Orlando, Florida. Dive Insight: RCM is an important area to providers, and a number of vendors are seeking to capitalize on it.  In a Connance survey, 70% of providers claimed it took more than a month to collect from patients. A 2017 Advisory Board analysis found the average 350-bed hospital lost up to $22 million due to revenue cycle issues. Respondents in a recent Billing Tree survey ranked collecting on patient bills the No. 1 payment … [Read more...] about Providence St. Joseph snaps up blockchain-powered RCM platform Lumedic

Dive Brief: Providence St. Joseph Health on Monday announced a new for-profit population health management company called Ayin Health Solutions. The health system is the third largest non-profit system in the country, including 51 hospitals across seven states.  Providence St. Joseph said Ayin will provide expertise and tools for payers, providers, employers and government departments looking to cut costs, improve care and transition into population health. Ayin will provide capabilities like a pharmacy benefits management program that partners pharmacists and physicians in a coordinated care model and a risk evaluation tool. Dive Insight: Providence St. Joseph is the latest in a growing trend toward population health management. Another example is Intermountain Healthcare, which is investing $12 million in hopes of improving social determinants of health (SDOH) issues in Utah. The Utah Alliance for the Determinants of Health is working with SelectHealth … [Read more...] about Providence St. Joseph launches for-profit population health management company

Dive Brief: Providence St. Joseph has a new CIO in Microsoft artificial intelligence and commerce executive B.J. Moore. Moore, who spent nearly 20 years at Microsoft, will start at the Renton, Washington-based health system in late January. Moore is the third Silicon Valley exec to head to the health system in recent years. He'll join Chief Digital Officer Aaron Martin, who left Amazon for Providence in 2014, and Chief Financial Officer Venkat Bhamidipati, who worked with Moore at Microsoft until heading to the health system last year. Moore will report to Bhamidipati. The healthcare industry's executive talent pipeline has been completely rerouted by Silicon Valley, with tech behemoths like Amazon and Google continuing to snag execs from health systems and payers alike. Providence St. Joseph, which has been ramping up its digital health efforts, has made a point of reversing that trend by scooping up tech talent like Moore.  Dive Insight: Hospitals and payers have … [Read more...] about Twisting the trend, Providence St. Joseph snags another tech exec